Dubai's property market set for expansion with 90,000 homes by 2026

Posted on October 22, 2024   |  

Dubai’s real estate market is expected to grow, with 90,000 new homes projected over the next two years.

There are currently 1,034 construction projects in progress, bringing a total of 288,020 units under development, showing Dubai’s focus on expansion.

In 2023, a record-breaking 101,654 new homes were launched, and 2024 is set to surpass this with 99,779 units already counted.

By 2025, 41,800 new homes will be added, setting a new record, followed by 48,400 homes in 2026.

Property launches in 2023 increased by more than 81% compared to the previous year, a trend that looks set to continue into 2024.

The top areas for new homes in 2024 are Al Merkadh (4,052 homes), Jumeirah Village Circle (3,042 homes), and Jebel Ali First (1,518 homes).

Jumeirah Village Circle, Business Bay, and Dubai South are expected to see the largest number of future homes, with 29,174, 19,322, and 17,925 homes planned.