Investors in Dubai real estate notched up record profits to the tune of $16.33 billion (AED 60 billion) from the re-sale market last year, an industry report said.
This represented 32 per cent of the city’s all-time high total re-sale value of AED 188.1 billion last year, the report by fäm Properties said.
The report said data from DXBinteract covering 136 areas across the emirate revealed that the highest amount of capital gain, AED 6.48 billion, was achieved on Palm Jumeirah.
Prominent residential areas like Dubai Marina, Dubai Hills Estate, Downtown Dubai and Business Bay also featured in the top ten for annual capital gain.
Firas Al Msaddi, CEO of fäm Properties, said the substantial capital gains realised by investors underscores the market’s dynamism and the effectiveness of the regulatory framework.
“Our expectation is that these profits will encourage reinvestment and attract new capital, as investors recognise the long-term resilience and potential of our market,” he said.
Record total re-sale figures for 2024, up 21 per cent in value and 14 per cent in volume, reflected buyers shifting to ready homes, investors attracted by high rental yields, and infrastructure upgrades increasing the appeal of properties, the report said.
As per the report, apartment sales in Dubai’s property market posted a 42 per cent annual growth in volume-terms, notching up AED 260.6 billion, while villa sales increased by 21.1 per cent to 30,938 units worth AED 164.1 billion.
Commercial property transactions were up 10.1 per cent in volume to 4,304 units at AED 9.7 billion, while 4,352 plots sold for AED 86.5 billion, a 2.6 per cent increase, it said.
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