UAE Luxury Residential Real Estate Market Aiming for USD 52.32 Billion Milestone by 2030

The UAE Residential Real Estate Market is undergoing significant transformation and growth, projected to expand at a CAGR of around 8.4% during the forecast period from 2024 to 2030. This growth comes after previous downturns driven by low oil prices and concerns over market oversupply. The market is characterized by evolving lifestyle demands, strategic government initiatives, and an increasing preference for sustainable living. Below is a comprehensive overview of the market dynamics, key players, trends, challenges, and forecasts.

UAE Residential Real Estate Market Overview

Market Size: The UAE Residential Real Estate Market is expected to recover strongly, reflecting a shift toward larger homes with outdoor spaces, largely due to the rise in remote working and online learning.

Key Drivers:

• Initiative programs such as the 10-year golden visaand residency permits for retirees and remote workers.
• Increased investor confidence bolstered by government policies aimed at making the real estate market more accessible.

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UAE Residential Real Estate Sector Segmentation and Geography

By Type

• Apartments and Condominiums
• Villas and Landed Houses

The apartments and condominiums segment is projected to hold the largest market share, driven by their strategic locations, convenience, and amenities that cater to young professionals and expatriates.

By Region

• Abu Dhabi & Al Ain
• Dubai
• Sharjah & Northern Emirates

Dubai dominates the market, showcasing considerable demand across various property types, particularly in developments like Arabian Ranches 3 and Dubai Marina.

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Key Trends in the UAE Residential Real Estate Market

Increasing Focus on Affordable Housing in the UAE Residential Real Estate Market – In response to increasing demand from a diverse population of middle-income earners, young professionals, and expatriates, the UAE Residential Real Estate Market is experiencing a noticeable shift toward developing affordable housing. This trend is significantly influenced by changing economic conditions and evolving demographics, which have prompted both the government and developers to adjust their focus from luxury properties to more economically accessible options.

Government initiatives, including eased mortgage regulations and financial incentives for affordable housing projects, are actively supporting this shift. These policies aim to enhance homeownership among lower and middle-income groups and stimulate sustainable community development. As a result, new projects are emerging that offer high-quality, affordable living spaces well connected to urban amenities, thereby widening the market’s reach and fostering a more inclusive approach to residential real estate development in the UAE. This strategic shift not only meets an urgent market need but also opens up new avenues for investment and growth within the sector.

Industry Recent Developments

• In 2023, Emaar Properties entered into a deal to sell a prime beachfront plot to the Al Bilad Tourism Fund, reinforcing the strategic alignment with growing tourism in the region.
• Dubai Holding completed the acquisition of The Westin Paris - Vendôme, aiming to expand its portfolio and presence in key international markets.

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UAE Residential Real Estate Industry Key Players

Prominent firms leading the UAE Residential Real Estate Market include:

• Emaar Properties PJSC
• DAMAC Properties
• Aldar Properties
• Dubai Holding LLC
• Majid Al Futtaim Properties and more…

These companies are engaged in strategic development initiatives to capture market share and elevate the quality of residential offerings.

Browse More Residential Real Estate Market Report:

• Oman Residential Real Estate Market – View Report
• UAE Luxury Residential Real Estate Market – View Report

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