Dubai Real Estate Sector Strategy 2033 to transform property investment market

Dubai has unveiled its Real Estate Sector Strategy 2033, a comprehensive plan designed to propel the emirate’s record-breaking property investment market to even greater heights.

The new initiative, which was officially launched by government officials in October, seeks to double the sector’s contribution to Dubai’s GDP, increase property transaction volumes by 70% over today’s levels, and boost the market’s overall value to AED 1 trillion (US$270bn).

The roadmap reflects Dubai’s ambition to establish itself as one of the world’s leading property investment destinations.

The city’s real estate market has continued to surpass all previous performance benchmarks in 2024. In the first nine months of the year, more than 163,000 property transactions were recorded, with a total value exceeding AED 544 billion.

In October alone, the city saw 23,791 transactions worth AED 54.6 billion (US$14.9bn), up 69% year on year (YoY) and 55% YoY respectively.

Speaking at the launch of the Strategy, Marwan Ahmed bin Ghalita, Director General of Dubai Land Department (DLD), said the initiative reflected Dubai’s vision to establish itself “as a global leader in sustainable urban development”.

“We aim to create a real estate sector that not only contributes to economic growth but also enhances the quality of life of residents and investors alike.”

Ambitious goals for economic growth

The Real Estate Sector Strategy 2033 sets out clear objectives for market growth backed by key performance indicators. By 2033, it aims to double the sector’s contribution to GDP to AED 73 billion; raise home ownership rates to 33% of the emirate’s total population; grow the combined value of real estate portfolios to AED 20 billion – a twentyfold increase – and boost the value of annual transactions by 70% compared to today.

These goals also reflect Dubai’s broader economic vision under the Dubai Economic Agenda, D33 – which aims to double the size of the emirate’s economy by 2033 – and the Dubai 2040 Urban Master Plan. The strategy is designed to ensure long-term growth while boosting overall innovation, market transparency, and sustainability.

Leveraging technology to boost transparency and sustainability

In line with this, the DLD has launched several tech-driven initiatives to streamline processes, enhance customer experiences, and boost operational efficiencies.

One of its flagship programmes is the Real Estate Evolution Space (REES), which aims to position Dubai as a leader in real estate technology and artificial intelligence (AI). REES fosters collaboration between industry leaders and tech innovators to develop cutting-edge solutions for the sector.

From AI-driven data analysis to digital platforms for real-time property management, technology is set to play a pivotal role in shaping the future of Dubai’s real estate market. These advancements will not only make the property lifecycle – from search to purchase – more seamless but also drive cost efficiencies in construction and operations.

This focus on innovation also extends to leveraging advanced data insights to bolster governance frameworks. Initiatives such as the Transparency and Global Marketing Programme aim to provide investors with clearer insights into market trends and opportunities.

Sustainability is another key focus. The Affordable Housing and Real Estate Sustainability Programme will promote the development of energy-efficient, sustainable communities. By integrating sustainability into its urban planning, Dubai aims to attract investment from markets increasingly focused on environmental, social, and governance (ESG) factors.

Building a resilient and diverse market

The strategy is also designed to dissuade all forms of property speculation that could lead to rapid price inflation. While Dubai’s property sector has seen record growth, speculation has remained largely under control, with levels staying below 20%, according to government data. This stability is a testament to the city’s sound regulatory framework, which balances growth with risk management.

By 2033, Dubai hopes to attract a broader range of property investors, including those from emerging markets. The strategy highlights the importance of flexible urban planning to accommodate diverse needs, from luxury developments to affordable housing.

Ultimately, the strategy provides a roadmap for Dubai’s property market to play an increasingly important role in meeting the emirate’s broader economic ambitions, driving investment and enhancing the city’s reputation as a premier global destination.