In mid-March, Dubai was once again recognized as the top destination for foreign capital investment, with new foreign investment projects reaching an impressive 52.3 billion AED (14.24 billion USD) in 2024. This marks the fourth consecutive year that Dubai has claimed the top spot, reflecting a 33.2% increase from 39.26 billion AED (10.69 billion USD) in 2023, the highest since 2020. Alongside this, both property transactions and values in Dubai reached record-breaking levels, driven by investors from around the world, including a significant surge in Chinese investments.
In 2024, the Dubai real estate market saw a total of 180,900 transactions, with a combined value of 142.4 billion USD, representing a 36% increase in volume and a 27% rise in value compared to the previous year. Both new developments and resale properties experienced substantial growth, with new build transaction values rising by 30% year-on-year to 91.1 billion USD. The average price per square foot also increased by 10%, reaching 435 USD. The resale market also flourished, buoyed by new payment plans and incentives for settlement, with its total value reaching 51.2 billion USD, a 21% increase from 2023.
Another key trend in 2024 was the rise of Chinese investors, who jumped to 4th place in Dubai’s real estate investment rankings, up from 9th in 2023. Chinese capital accounted for about 8% of all real estate transactions in Dubai, highlighting the growing influence of Chinese buyers in the market.
Despite several years of property market growth, Dubai continues to attract international investors, including those from China, as both sale prices and rents continue to rise, offering strong returns for earlier buyers. The UK also saw a surge of buyers in 2024, seeking better returns, while investors from neighboring Middle Eastern countries sought the stability Dubai offers. Early 2025 data shows that prices in the market have started to stabilize, further solidifying Dubai’s status as a premier investment destination.
