Five promising locations for investing in Dubai residential real estate in 2024.
The real estate segment under development in Dubai has demonstrated impressive growth over the past few years, thanks to increased interest from local residents, domestic, and foreign investors. The construction sector continues to be a key element of the market economy, showing notable growth. Demand for off-plan real estate is expected to continue to grow this year, reaching double-digit figures.
The construction sector continues to be a key element of the market economy, showing significant growth. It is forecasted that this year, the demand for off-plan real estate will continue to grow, reaching double digits. For more detailed information on the factors influencing the market, you can find in our article "Overview of the Dubai and UAE Real Estate Market for 2024-2025."
The sustainable development of Dubai's infrastructure, with active participation from recognized developers such as Emaar, Nakheel, Meraas, Damac, contributes to creating favorable conditions for investors. The expansion of the metro, construction of new highways, and launch of the Etihad railway line foretell further growth and prosperity for the Dubai real estate market.
The five key areas for off-plan real estate investment in Dubai in 2024 are:
Palm Jebel Ali: Twice the size of Palm Jumeirah, it offers a unique lifestyle with more than 80 hotels and resorts running on renewable energy sources. The 109-kilometer coastline development offers a world-class golf course, yacht marina, theme parks, and more, creating ideal living and leisure conditions. This place will be the perfect choice for those seeking waterfront living with quick access to Dubai Marina and Sheikh Zayed Road.
Dubai Islands: After Palm Jebel Ali, Nakheel presents a new project for villas and mansions on the water with access to the sea and golf courses. With the development of infrastructure, including shopping centers, 5-star hotels, and open beaches, Dubai Islands promises to be a gem for investors. The starting price for townhouses is from 4 million dirhams.
Dubai Hills: An area with a strategic location and world-class amenities offers lucrative opportunities for residential and commercial real estate development. The average selling price is 1.6 million dirhams.
Dubai Creek Harbour: With the future Dubai Square Mall, this project promises to become a new symbol of luxury, offering a scenic waterfront and a variety of amenities. This place will be attractive to investors thanks to maritime transport, facilitating access to other parts of the city.
Rashid Yachts and Marina: One of the most exciting and prestigious areas of Dubai, offering elite housing and unparalleled conditions for lovers of marine life and yachting. Known for its luxurious marinas and exclusive residential complexes, this area offers residents access to the water and incredible views of the Persian Gulf and cityscape. With competitive prices among coastal communities, it offers the opportunity to invest in projects from Emaar. With a wide range of amenities, including retail, cafes, and restaurants, this area promises high investment returns.
As Dubai strengthens its status as a global business and tourist hub, demand for both residential and commercial properties is expected to rise. This will lead to an increase in property values and rental income, providing investors who invest in construction-stage projects with significant profits upon completion.
The team of professional specialists at Major Real Estate is ready to assist you in selecting real estate. Contact us, and we will quickly find the perfect property that will not just be an investment, but a place where dreams come to life.
