Economic and Market Benefits
The good economic foundations of the UAE really help to boost its real estate market. Driven by a huge portfolio including tourism, trade, beautiful buildings and technology in the big cities, the UAE's economy has shown good benefits despite economic doubts in the world. Showing a fantastic recovery from the world economic shocks caused by the COVID-19 epidemic, the UAE's GDP is expected to rise by 4.2% by mid-2024.
The Dubai Land Department (DLD) shows that, in Q1 2024, the Dubai real estate market alone saw transactions totalling AED 34.8 billion ($9.5 billion), a 12% rise over the same period in 2023. This increase highlights a more normal requirement in the housing market towards trust and popularity.