The government of Dubai has published the Real Estate Sector Strategy 2033, outlining a focused roadmap to elevate the sector’s economic impact on the emirate.
Dubai’s real estate sector has grown significantly over the past year, recording over 163,000 transactions worth Dh544 billion in the first nine months of 2024. Investments have surged past Dh376 billion, driven by advanced infrastructure and a strong regulatory framework. While the market grows, property speculation remains stable, not exceeding 20%, indicating sustainable investment trends.
Building on this growth, HE Engineer Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, has announced the new strategy, which aligns with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, focusing on sustainability and leadership.
The document sets ambitious targets. including doubling the real estate sector’s GDP contribution to Dh73 billion, boosting home ownership to 33%, increasing transactions by 70%, raising the market value to Dh1 trillion and expanding real estate portfolios to Dh20 billion.
The roadmap emphasises creating sustainable communities and attracting international investments, particularly from emerging markets. It also focuses on leveraging technology to enhance the investor and end-user experience.
Included in the strategy are ten-year programmes like the Transparency and Global Marketing Programme and the Real Estate Investment Funds Programme. The Dubai Real Estate Brokers Programme specifically empowers Emiratis in real estate brokerage through advanced training.
Public-private partnerships are encouraged to foster innovation and reshape Dubai’s urban landscape, supporting solutions that enhance competitiveness and sustainability. The REES initiative seeks to improve operational efficiency and customer satisfaction, bolstering the global competitiveness of PropTech companies within the Dubai Chambers network.
