The UAE’s construction market was valued at $94 billion in 2023 and is expected to grow at an annual growth rate of 3% through 2028
Dubai, UAE – 27 March 2024: DHG Properties, a renowned Swiss real estate developer with a legacy of over three decades of excellence, cites that the UAE’s construction market was valued at $94 billion in 2023 and it is expected to grow at an annual average growth rate of 3% through 2028; the upwards trajectory is attributed to the increase in investments in transport and renewable energy infrastructure.
This growth is expected to be sustained in the current calendar year, supported by the launch of quality infrastructure projects and investments by the government, as well as the private sector. With residential construction holding the largest share of the UAE’s construction market last year, DHG’s recently launched Helvetia Residences – a 430-unit, JVC-situated project which entails world-class architecture – is set to contribute to the region’s promising outlook ahead.
Following a slight 0.2% increase in January, Dubai’s real estate market saw a notable uptick in February 2024, with property prices rising by 0.83% from the previous month. At the same time, sales transaction volumes surged by 30.4% year over year in February 2024, reaching previously unheard-of heights. The remarkable surge in sales transaction volumes, which has reached unprecedented levels, indicates robust activity and increased interest from buyers and investors alike. This positive momentum indicates that Dubai remains as appealing as ever as a real estate destination, thanks to its world-class infrastructure and dynamic economy.
Miloš Antić, Vice Chairman of DHG Holding & Founder of DHG Properties: “Dubai’s real estate market never fails to attract investors. This notion is reinforced by the explosive growth we are witnessing in the construction sector through price appreciation, robust sales transactions, and ongoing real estate development. This is especially true in the residential sector as transactions constituted 92.1% of total sales in February with apartments, townhouses, and villas accounting for 10,966 transactions out of a total of 11,913. To contribute to the city’s progress, we look forward to duplicating 30 years of proven success and consistent growth in Europe to enhance the overall real estate landscape in the UAE – Helvetia is only the first piece of this puzzle.”
