Dubai's Real Estate Market Set for Peak Growth: 90,000 New Homes by 2026
The real estate market in Dubai is getting ready for another big peak in 2024. Over the next two years, 90,000 new homes are expected to be built. fäm Properties says that the next few years will see a record number of new homes being built. In 2025, 41,800 units will be released, and in 2026, another 48,400 units will be released. This rise shows that people still want to buy homes in one of the most active real estate markets in the world.
At the moment, 1,034 projects are being built in Dubai, which adds up to an amazing 288,020 units. This ongoing project shows that the city is serious about meeting the needs of both local and foreign buyers as well as its growing population.
Firas Al Msaddi, CEO of fäm Properties, talked about how the market is strong enough to handle rising demand. He said that the real estate market is still doing well, even though developers are having trouble with operations and getting materials. "We are seeing a robust pipeline of new units, which reflects the ongoing attractiveness of Dubai as a global real estate destination," Msaddi said.
The number of new units coming out in 2024 is already getting close to the record number of 101,654 set last year, which is a good sign. At this point, the count is 99,779, which shows that there is a lot of energy going into the new year. Several things are causing this trend, such as the city's good business climate, tax breaks, and the continued flow of expats and foreign investors drawn to Dubai's way of life and business chances.
The Game Changers - Dubai Real Estate Summit will take place on October 24 at the Coca-Cola Arena. It will give people in the real estate business a chance to learn more about the present state and future of Dubai's market. Expert speakers and thought leaders will share their thoughts on how the market is changing, and the event promises to give attendees useful information and strategies for navigating the competitive field.
As the real estate market changes, it will be important for everyone involved to understand market trends, customer tastes, and the effects of the global economy. The summit will be mainly about coming up with new ideas and plans to deal with problems and take advantage of market possibilities.
In the past, Dubai's real estate market has grown quickly and been very unstable. However, the present trend points to a more stable and long-term phase of growth. Analysts think that these new units will not only meet the living needs of the people who live there, but they will also bring more investment into the emirate.
Also, the focus on high-quality developments and high-end living is expected to keep driving demand. Since the global economy is changing and more people want to move to places like Dubai, the market is ready to serve a wealthy group of people who want high-end living experiences.
Therefore, Dubai's real estate market is about to grow a lot, as a lot of new homes will be coming on the market over the next few years. The upcoming Game Changers - Dubai Real Estate Summit is expected to give workers in the field important information that will help them work through this exciting but difficult environment. Dubai is still a major player on the world stage because of its real estate market, which is expected to grow as producers work to meet demand and solve problems with logistics.
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