During the October–December 2024 quarter, Dubai’s residential market recorded 33,110 registered transactions, representing a 55 per cent year-on-year (Y-o-Y) increase compared to the 21,405 transactions recorded during the same period in 2023. This growth in annual activity demonstrates strong buyer interest, while the minor quarterly adjustment indicates a steady, healthy market. The registered home sales value (GTV) for the quarter reached AED 65.23 billion, marking a 44 per cent Y-o-Y increase over the AED 45.45 billion reported in October–December 2023. Average registered home sales value also adjusted slightly, coming in at AED 1.97 million, dropping marginally by 7 per cent. Rabiah Shaikh, Chief Business Officer & Principal Partner - Global Markets, Square Yards said, Dubai’s residential real estate market continues its upward trajectory, driven by a strong regulatory framework, investor-friendly policies, and a maturing investment landscape. The latest figures reaffirm the city’s appeal, with double-digit growth in both residential transaction volume and value. Competitive advantages such as streamlined property acquisition, favourable visa and mortgage frameworks, tax incentives, and attractive rental yields have reinforced the emirate’s position as a global property investment hub. Looking ahead, we see a clear roadmap for sustained growth, supported by strategic initiatives like the Dubai Real Estate Sector Strategy 2033. The ambition to double the sector’s contribution to GDP, enhance homeownership, and push market value past AED 1 trillion underscores confidence in the long-term potential of Dubai’s real estate market, with the residential segment at its core. Market leaders and key projects In the December quarter of 2024, Sobha Realty led the market with 1,960 registered residential transactions, driven largely by its flagship project, Sobha Orbis. Azizi Developments followed with 1,158 transactions, with Azizi Venice being a standout performer. Damac Properties ranked third with 1,050 transactions, bolstered by its Damac ELO project. Binghatti Developers came in fourth, recording 700 transactions, with Binghatti Hills as its flagship development. When it comes to registered home sales value, Sobha Realty again topped the list with AED 4,297 million, thanks to the strong performance of Sobha Orbis. Emaar Properties was second, recording AED 1,965 million, largely attributed to Emaar Marina Cove. Damac Properties secured the third spot with AED 1,464 million, supported by Damac Lagoon Views, while Azizi Developments ranked fourth with AED 1,370 million, backed by Azizi Venice.