Executive Summary
Real estate in UAE is witnessing strong growth. UAE property prices have continued to rise in 2023 despite macroeconomic headwinds. Flexible visa policies, the increase in the number of trade licenses being issued in Dubai and favorable tax laws bode well for the UAE real estate sector. The residential, office and hospitality real estate segments are poised for continued high growth in H1 2024 owing to elevated demand from ultra-high net worth individuals and limited projects in the pipeline.
Based on assessment of key macro factors that would impact UAE property market, real estate sector in UAE is expected to accelerate in the first half of 2024, albeit at a slower pace than the robust growth witnessed in 2023.
