His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, attended a presentation on the performance of the Dubai Land Department in line with the achievement of the emirate’s vision for economic and investment development. This assessment was carried out in line with the goals of Her Highness Sheikh Mohammed bin Rashid Al Maktoum, who has introduced this city as an important global economic center and the best investment destination in the Dubai real estate sector.
Sheikh Hamdan stressed that rapid development and attractiveness of Dubai to the whole world, especially among investors and huge companies, means the structural growth of the emirate’s real estate sector. He also pointed out that opening new projects in the real estate sector helps to stabilize economic growth and opens more opportunities for local and foreign investors. It is this very investment environment, with a basis on stable laws and regulations that protects investors’ rights, which Dubai pursues, and that ensures such unprecedented growth of this segment.
During a meeting held at the Dubai Executive Office, Marwan Ahmed bin Ghalita, Director General of the Land Department, presented a report on projects and initiatives undertaken to achieve the goals of the Dubai Economic Agenda D33. The D33 agenda focuses on integrating real estate support systems, adopting advanced technologies, and enhancing data centralization to elevate Dubai as one of the world’s top three urban economies.
The session was attended by Omar bin Sultan Al Olama, Director General of the Crown Prince’s Office and Minister of State for Artificial Intelligence and the Digital Economy, underscoring the meeting’s significance. Sheikh Hamdan reiterated the critical role of the real estate market in Dubai’s economic development, emphasizing that this sector supports comprehensive progress across other industries. The Land Department introduced the Real Estate Strategy 2033, focusing on innovation and technology that further cemented Dubai’s position as a leading global hub for real estate investment.
Marwan Ahmed bin Ghalita highlighted the department’s efforts to promote innovation, strengthen public-private partnerships, and develop sustainable and competitive solutions in the real estate industry. He stressed the importance of adopting artificial intelligence technologies and advanced systems to enhance customer satisfaction and improve service quality within the sector. Statistics show that the volume of real estate transactions reached 188,000 as of November 2024, with their total value hitting AED 625 billion, representing a 38% increase in transaction volume and a 23% rise in value.
For the first time, real estate sales have crossed AED 437 billion, recording a 33% increase compared to the same period last year. The big strides taken in the real estate sector have been an enabler for Dubai to consolidate its position as one of the world’s top investment destinations, based on sustainable development and innovation.
On the basis of reviews undertaken by the Crown Prince of Dubai, the performance of the Land Department has been viewed as very positive in regard to accomplishing the economic vision of Dubai. Focusing on innovation and creating diverse investment opportunities in the UAE, including in the real estate sector, Dubai is rapidly attracting international investors.
The remarkable increase in both the number and value of transactions, combined with the long-term strategy of the Land Department, signifies the sustainability and prosperity of this sector in the future. This success was brought about by comprehensive government support and the creation of a secure and attractive environment for investors. It seems that Dubai is well on track to becoming one of the world’s top three urban economies, backed by its talent and resources.
Source: https://www.propertynews.ae
