Dubai’s real estate sector is experiencing remarkable growth, driven by the ambitious Dubai Real Estate Sector Strategy 2033. This comprehensive roadmap envisions elevating the emirate’s real estate sector to global prominence, significantly boosting transaction volumes and attracting international investors.

Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, emphasized that the strategy will catalyze a transformative shift in Dubai’s real estate sector. By prioritizing sustainability and innovation, Dubai aims to solidify its position as a global leader in real estate.

The strategy sets ambitious targets, including doubling the sector’s contribution to Dubai’s GDP to approximately $20 billion, increasing homeownership rates, and growing real estate transactions by 70%. It also aims to raise the market value to $272 billion and expand the value of Dubai’s real estate portfolios to $5.4 billion.

To achieve these goals, the strategy focuses on several key areas which focus on developing high-quality, sustainable communities that meet the evolving needs of residents and attracting international investment, particularly from emerging markets, by showcasing high-value real estate assets, harnessing the power of technology, including AI and data analytics, to enhance operational efficiency, improve customer experiences, and drive innovation, empowering Emirati professionals through initiatives like the Dubai Real Estate Brokers Programme, fostering innovation and strengthening Emirati identity within the industry.

One of the key initiatives under the strategy is the Real Estate Evolution Space (REES). This platform aims to drive technological advancements in the sector, fostering collaboration among industry leaders and experts to reshape Dubai’s urban landscape. By leveraging AI and digital solutions, REES aims to improve operational efficiency, enhance customer experiences, and attract global PropTech companies.

Dubai’s real estate sector is poised for continued growth and innovation. By implementing the strategies outlined in the 2033 plan, Dubai aims to solidify its position as a global real estate hub and a preferred destination for investors and residents alike.