Dubai's Booming Real Estate Market Steals the Spotlight at the Property Show

The International Property Show (IPS), in collaboration with the Dubai Land Department (DLD), is preparing for its 20th edition in 2024, which will be held at the Dubai World Trade Center on February 27 and 29. IPS 2024 will provide attendees with an exclusive look at the dynamic property landscape of Dubai, showcasing the city’s thriving real estate industry.

Dubai is still making waves as one of the top places to invest in real estate. Since the beginning of 2023, the Dubai real estate market has experienced significant growth, and experts predict that this positive trend will continue into 2024. Aligned with this trajectory of sustainable growth, IPS 2024 has been deliberately crafted to showcase the thriving real estate industry in the Emirate. To its esteemed guests and participants, this prestigious event will provide a platform for showcasing the most promising investment opportunities within the sector and the construction industry. The main goal is to strengthen and solidify the real estate industry’s crucial position in the American economy.

Dubai’s persistent interest in real estate is due to several important factors that will likely influence the market in 2024. Its thriving economy, politically stable atmosphere, and alluring investment opportunities consistently attract foreign investors to this energetic city. Furthermore, the achievement of the objectives of the Dubai Economic Agenda D33 and the predicted expansion of the UAE economy in the upcoming years add to Dubai’s attraction.

Long-term expansion in the real estate industry

According to Sultan Butti bin Mejren, Director-General of the Dubai Land Department, Dubai is among the cities with the fastest rates of sustainable real estate development globally.

Bin Mejren said, “In recent years, we have witnessed remarkable successes in terms of attracting real estate investments, as well as substantial growth in transaction numbers and volumes. None of this would have been achievable without the visionary leadership, supervision, and support of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, whose commitment to the real estate sector has solidified the emirate’s position as a global destination, rivaling the world’s largest cities. Dubai has consistently been at the forefront of adopting cutting-edge technologies and leveraging them to cater to the real estate sector. This strategic approach has paved the way for the delivery of proactive services aimed at promoting leadership and ensuring the efficient governance of the sector. At Dubai Land Department (DLD), in close collaboration with our valued partners, we are resolute in our dedication to upholding this approach, thereby charting a course for continued success and sustainability in Dubai’s dynamic real estate market.”

The preferred destination for investors and buyers

The president of IPS, Dawood Al Shezawi, in turn, emphasized that Dubai’s smooth operations, strong legal system protecting investors, unparalleled conveniences, the introduction of progressive laws like the Real Estate Investment Funds Law passed in 2022, and Dubai’s advantageous location have all contributed to the city’s rise to prominence among buyers and investors worldwide. All of this increases its appeal in the international real estate market.

“At IPS, we are keen to offer an optimal platform for engagement to real estate investors, customers, and stakeholders. Our aim is to strengthen their trust in the real estate sector in Dubai, aligning with the government’s objectives to establish an environment that is not only investor-friendly but also aligns with its vision of becoming a global hub for real estate investment,” added Al Shezawi.

Enhancing global position

Furthermore, with its remarkably high residential property value, Dubai’s real estate market is still a shining star on the international scene. The first quarter of 2023 saw a 5.6% increase in residential property prices in Dubai, according to the most recent data from Knight Frank. This is the ninth consecutive quarter that prices have increased. Property values have increased by an amazing 20 percent since the first quarter of 2020 due to this recent rise. Due to its attractive returns and chances for portfolio diversification, Dubai has become a sought-after destination for real estate investors.

Furthermore, both business professionals and expatriates continue to have a strong demand for rental properties in Dubai. Recent data from Asteco shows that average rental rates for apartments and villas grew strongly in Q1 2023, especially in higher-quality developments, with quarterly increases of 4% and 7%, respectively. This demonstrates Dubai’s standing as a thriving center where both domestic and foreign citizens come to find high-quality lodging in a bustling city.

A three-day event packed with activities

Government officials, senior real estate developers, top real estate firms from within and outside the United Arab Emirates, financial institutions, banks, and investors will all be present at the three-day IPS 2024 to closely examine and explore the investment opportunities offered by the real estate sector in Dubai and around the world.

IPS will specifically offer a wide variety of events that are organized under its eleven primary activities: the IPS Exhibition, the IPS Conference, the IPS Oscars, the IPS Future Cities, IPS Connect, IPS Finance, the IPS Women, the IPS Youth, the IPS Studio, the IPS PropTech, and the IPS Design. These events are scheduled to take place not only once but all year long.

Exhibitors from more than 140 countries around the world, including Turkey, the United Kingdom, India, Pakistan, Saudi Arabia, Qatar, Oman, Egypt, and the United Arab Emirates, will be present at IPS 2024, which will be held in collaboration with the Dubai Land Department