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Dubai’s Real Estate Sector Attracts 110,000 New Investors, Transactions Reach AED526 Billion In 2024

by THEFUTURE.TEAM

January 27, 2025

Dubai’s real estate sector experienced a significant milestone in 2024, with 110,000 new investors joining the market, marking a 55% year-on-year increase. This surge in investments underscores Dubai’s global leadership in fostering a world-class investment environment that appeals to investors from around the globe and supports the sustainable development of its real estate sector.

The emirate achieved notable success in 2024, recording 217,000 investments valued at AED526 billion, reflecting impressive growth rates of 38% in the number of investments and 27% in value compared to the previous year.

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Marwan Ahmed bin Ghalita, director-general of Dubai Land Department, attributed this success to the resilience and adaptability of Dubai’s real estate market. “These results reflect the city’s ambitious vision and efforts to enhance its attractiveness under the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies in the world,” he stated.

Real Estate Transactions Hit AED761 Billion

Dubai’s real estate sector also reached a historic high in 2024, recording a total of 2.78 million transactions, the highest number in its history. This includes both real estate transactions and rental agreements, marking a 17% increase from 2023.

Real estate transactions alone reached 226,000, with a combined value of AED761 billion, a 36% growth in volume and 20% growth in value year-on-year.

“The exceptional results achieved in 2024 reflect the strength and resilience of Dubai’s economy. The Dubai Economic Agenda D33 has played a crucial role in raising the city’s profile as a hub for investment, trade, and innovation, enhancing its appeal as both a lifestyle and investment destination,” said H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

Dubai Real Estate Strategy 2033 Drives Sector Growth

The Dubai Real Estate Strategy 2033 continues to elevate the sector, setting new benchmarks for transparency, return on investment, and investor confidence. The strategy has also focused on addressing the diverse needs of the market and fostering growth through innovation and technology.

“The strategy enhances transparency, balances supply and demand, and aims to attract investments from emerging markets. It’s a key factor in Dubai’s efforts to become a leading global real estate hub,” added bin Ghalita.

The Dubai Real Estate Strategy 2033 is also contributing to the broader objectives of the Dubai Economic Agenda D33, with a focus on doubling the city’s GDP by 2033 and increasing the real estate sector’s contribution to this goal.

Dubai: A Global Destination For Real Estate Investment

Dubai continues to strengthen its position as a leading global destination for real estate investment, driven by its vision for sustainable development and innovative technologies. The city’s strategic collaboration between the public and private sectors has set new standards in economic excellence.

“The influx of 110,000 new investors is a clear indication of the growing global confidence in Dubai’s real estate market,” said bin Ghalita. “Our efforts to develop an advanced, technology-driven real estate environment, incorporating artificial intelligence and proptech solutions, are key to boosting operational efficiency and ensuring stakeholder satisfaction.”

Dubai Land Department remains committed to collaborating with both public and private sector partners to reach further milestones, contributing to Dubai’s long-term strategic objectives.

The Future Forbes Realty Global Properties

Cyprus Tech Sector Propels Economic Growth and Reshapes Talent Landscape

by THEFUTURE.TEAM

May 17, 2025

Robust Economic Expansion

At the recent TechIsland Summit, Christophoros Anayiotos, Head of Deal Advisory at KPMG Cyprus, delivered a compelling assessment of the island’s burgeoning tech ecosystem. The 2024 report highlights that the technology sector now contributes 16% of Cyprus’ total Gross Value Added (GVA), up from 12.6% in the previous year. Overall, the sector’s economic impact is estimated at €8.5 billion, with direct contributions of €4.7 billion and an additional €3.8 billion generated indirectly.

Sectoral Contributions and Productivity

Using the Leontief Input-Output Model, the study covers key areas including ICT, professional scientific and technical activities, as well as tech-driven financial and insurance services. Notably, the ICT segment itself delivers €3.4 billion in direct GVA, while professional services and financial operations contribute €840 million and €505 million respectively. This horizontal spread of technological influence underscores the industry’s pivotal role in driving multifaceted business growth.

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Resilience During Economic Downturns

Even amid challenging economic conditions, the tech sector has demonstrated remarkable resilience. In the pandemic-stricken year of 2020, while the broader Cypriot economy contracted by 3%, the ICT sector experienced a robust growth rate of 21%. This momentum accelerated further to a striking 38% growth in 2021, reinforcing technology’s role as a stabilizing economic force.

Divergent Trends in Employment

Anayiotos’ analysis reveals that the tech sector now sustains over 62,000 full-time equivalent jobs in Cyprus, with 45,900 direct and 16,300 indirect roles. For every €1 million in increased sector revenue, approximately 13 jobs are generated. Despite the overall employment surge, there has been a significant shift in workforce composition. In 2015, Cypriot nationals comprised 88% of ICT employees; by 2024, this figure dropped to 50%, with non-EU nationals accounting for 42% and other EU citizens 8% of the workforce.

Cyprus as an EU Leader in ICT

Cyprus now holds a prominent place in the EU, ranking second in the EU27 for ICT’s share of national GVA at 11.4%, a notable rise from 9.4% in 2023. Furthermore, the island leads the bloc in ICT GVA growth, posting a remarkable 347% increase between 2015 and 2024. With a top-five ranking in GVA per ICT employee—whereby each contributes approximately €130,000, compared to the EU average of €116,000—the country’s technology workforce has expanded at an annual growth rate of 12.1%, from 9,300 in 2015 to 26,000 in 2024.

Strategic Imperatives for Future Growth

Anayiotos emphasizes the need for strategic enhancements to sustain this expansion. Key recommendations include improving air connectivity, joining the Schengen Area to boost mobility, and attracting more international banking institutions. Additionally, introducing tax incentives designed to favor stock options is considered crucial in luring and retaining skilled talent. Addressing the limited capacity in private education is also vital to accommodating professionals relocating with families.

Investing in Talent and Digital Transformation

Looking forward, investments in education and digital upskilling remain paramount. There is a clear call for a national initiative aimed at promoting STEM careers, elevating the digital skills of both students and educators, and accelerating the digital transformation of public services. Moreover, streamlining legal procedures will be critical to improving the overall business climate and competitiveness.