Dubai’s real estate market has reached AED100 billion ($27.2 billion) in sales faster than ever before, marking a historic milestone in the sector. This record was achieved by March 4, significantly earlier than last year’s milestone, which was reached on April 11, 2023.

The first two months of 2024 saw real estate sales totaling AED94.8 billion ($25.8 billion) across more than 30,000 transactions, reflecting a 32% year-on-year increase, according to data from the Dubai Land Department (DLD). Total market transactions during this period amounted to approximately AED127.4 billion ($34.7 billion).

Experts predict that real estate sales during Ramadan will also set new records, continuing the upward trajectory of Dubai’s property market. Last year, Ramadan sales exceeded AED36 billion ($9.8 billion), while the year before saw transactions worth AED30 billion ($8.2 billion).

Dubai’s real estate sector continues to thrive due to a combination of factors, including economic growth, increased foreign investment, and attractive residency options. The emirate’s political and economic stability has played a key role in sustaining this momentum, making it a preferred destination for investors and high-net-worth individuals worldwide.

With a world-class infrastructure, a strong regulatory framework, and a dynamic economic landscape, Dubai remains one of the most attractive real estate markets globally.

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