Dubai Land Department has launched the Real Estate Sector Strategy 2033, targeting a doubling of the sector’s GDP contribution to AED 73 billion and pushing the market value to AED 1 trillion.
At a media gathering at the Government of Dubai Media Office, Director-General Marwan Ahmed bin Ghalita presented the strategy, which follows the vision of His HighnessSheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The plan aligns with the Dubai Economic Agenda D33, Dubai Social Agenda 33, and the Dubai 2040 Urban Master Plan, incorporating AI-driven analysis and digital solutions for property management.
“The strategy aims to inspire a transformative shift in Dubai’s real estate sector by fostering sustainability and solidifying Dubai’s role as a regional and global leader in real estate. Investing in Dubai extends beyond property acquisition; it offers a high-quality lifestyle, further enhancing market appeal and attracting long-term investment,” the Emirates News Agency (WAM) said in a statement.
The strategy launch comes as Dubai’s property market recorded 163,000 transactions worth AED 544 billion in the first nine months of 2024, with investments reaching AED 376 billion. Property speculation remains under 20 per cent, indicating market stability.
The plan aims to increase homeownership to 33 per cent, grow transactions by 70 per cent, and expand Dubai’s property portfolios to AED 20 billion – twenty times the current value.
The strategy introduces six ten-year programmes, including initiatives for transparency, data governance, urban planning, investment funds, affordable housing, and Emirati competitiveness in the sector.
A key component is the Dubai Real Estate Brokers Programme, designed to boost Emiratisation in the sector through specialised training.
The strategy emphasises technology integration through the Real Estate Evolution Space (REES) initiative, aimed at “cementing Dubai’s leadership in real estate technology and Artificial Intelligence,” the statement added.
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