GCC real estate transactions passed $383bn in 2024, according to Sakan’s first-ever residential market report.
Abdullah Al Saleh, CEO of Sakan, said: “We are delighted to unveil the launch of our first residential property report for the Gulf region, highlighting key trends and events affecting the GCC’s real estate sector.
“With more than $383bn in transactions, the GCC real estate market is on an unprecedented growth trajectory. PropTech is no longer an option; it is a necessity. At Sakan, we are committed to bridging the gap between buyers, investors, and real estate opportunities, ensuring transparency and accessibility for all.”
GCC real estate
In 2024, the GCC region reported over $383bn worth of real estate transactions, according to preliminary results.
Approximately $207bn was recorded in Dubai (54 per cent of total) and $75.7bn in Saudi Arabia (14 per cent).
Significant growth rates in yearly transactions were seen in Saudi Arabia (+47 per cent), Sharjah (+47 per cent), Kuwait (+33 per cent), and Oman (+30 per cent).
Overall, the region’s transactions grew by an estimated 25 per cent in 2024.
Apartment yields in the GCC region remained at a healthy range of 5-8 per cent.
Yields averaged 7.9 per cent in Bahrain and Kuwait, 6.1 per cent in Oman, 6.4 per cent in Qatar, 7.8 per cent in Saudi Arabia, and 5.8 per cent in the UAE, suggesting the generally strong investment returns on residential apartments in the region.
GCC apartment yields
- Bahrain: 7.9 per cent
- Kuwait: 7.9 per cent
- Saudi Arabia: 7.8 per cent
- Qatar: 6.4 per cent
- Oman: 6.1 per cent
- UAE: 5.8 per cent
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