Dubai Real Estate Caps 2024 Strong, Strengthening Global Leadership
Q4 results showcase Dubai's continued appeal to investors with robust growth in off-plan and luxury property sectors

Dubai’s Exceptional Real Estate Performance in 2024 Highlights its Global Leadership
In 2024, Dubai’s real estate sector ended with a remarkable achievement, cementing its position as a global leader in innovation, luxury and investment. According to Springfield Properties’ fourth quarter 2024 market report, gross sales transactions reached AED 116.5 billion, representing an increase of 31.1% year-on-year, with transaction volume increasing by 51.8% to 46,844 closed deals.
This growth was mainly due to Dubai’s dynamic unplanned market, which handled more than half of the total transaction value. In addition to this, Dubai’s luxury property market continued to attract high net worth individuals (HNWIs) and institutional investors, particularly in prestigious areas such as Palm Jumeirah, Downtown Dubai and Dubai Marina. Combining lifestyle appeal and long-term investment potential, these areas remained desirable.
“Dubai’s real estate market exemplifies strength and global appeal, driven by visionary developments and investor confidence,” said Farooq Syed, CEO of Springfield Properties, who voiced his faith in the city’s continued prosperity. Our efforts to meet evolving client demands and set new standards for sustainability, creativity, and quality have led to this expansion.
A closer look at the market reveals that the off-plan segment—which saw 30,388 transactions in Q4 alone—is very important. The sector’s appeal stems from flexible payment plans and a strong investor appetite for assets that are future-ready. The upscale off-plan buildings in Palm Jumeirah and Dubai Hills Estate enthralled a worldwide audience, while Dubai South and Jumeirah Village Circle became important destinations for mid-income buyers.
The luxury property segment, particularly on Palm Jumeirah, further cemented its role as the market leader, with the average selling price reaching AED 4,600 per sq ft. This continues to position Dubai as a top destination for the world’s most affluent buyers, offering a seamless combination of luxury living, security and strategic value.
As the city’s population nears 4 million in 2025, the demand for properties across all segments continues to surge. Areas like Dubai South, which emphasize inclusivity and strategic infrastructure, are poised to complement the sustained strength of luxury destinations. Dubai’s alignment with the Dubai 2040 Urban Master Plan signals the city’s commitment to sustainability and innovation, further enhancing its appeal to both international investors and local end-users.
Syed came to the following conclusion: “Dubai has solidified its position as a worldwide leader through its innovative approach to real estate development and its ongoing adaptation to market circumstances. The emphasis will continue to be on developing value-driven projects that blend exclusivity and inclusivity as we approach 2025, establishing the benchmark for urban living for many years to come.”
The remarkable Q4 2024 results demonstrate Dubai’s flexibility, tenacity, and capacity to draw in foreign interest, setting the city up for future expansion and dominance in the world real estate market.