His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Government Council of Dubai, immediately reviewed the operations of the Dubai Land Division (DLD).
His Highness additionally reviewed the progress made in direction of attaining the targets of the Dubai Actual Property Sector Technique 2033, aimed toward realising the imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen Dubai’s place as a worldwide financial hub and a number one vacation spot for actual property funding.
His Highness Sheikh Hamdan bin Mohammed highlighted that the robust progress of the actual property sector displays Dubai’s fast improvement and its growing attraction to companies, investments, and expertise from world wide.
Sheikh Hamdan additionally emphasised that the emirate’s strong financial and developmental momentum requires an enlargement in actual property initiatives, providing enhanced alternatives for native and world traders. Dubai’s safe and secure funding setting, supported by legal guidelines and rules that safeguard investor rights and capital, is a key driver of the sector’s outstanding progress, he mentioned.
In the course of the assembly held at The Government Workplace, His Highness was briefed by His Excellency Marwan Ahmed bin Ghalita, Director Common of the Dubai Land Division, on the important thing initiatives and initiatives applied by DLD to assist the targets of the Dubai Financial Agenda D33. The Agenda goals to place Dubai among the many world’s prime three city economies by integrating assist methods inside the actual property sector, leveraging superior know-how, enhancing knowledge centralisation, and offering a seamless, distinctive expertise for each traders and prospects.
The assembly was attended by His Excellency Omar bin Sultan Al Olama, Minister of State for Synthetic Intelligence, Digital Economic system, and Distant Work Purposes, and Director Common of the Dubai Crown Prince’s Workplace.
In the course of the assembly, His Highness Sheikh Hamdan bin Mohammed highlighted the important position of the actual property sector in Dubai as a key pillar of the emirate’s economic system. He additionally emphasised its contributions to supporting complete improvement throughout numerous fields.
The Director Common of the Dubai Land Division outlined the important thing future targets of the Dubai Actual Property Sector Technique 2033, launched by the Division to strengthen Dubai’s place as a worldwide chief in actual property funding by innovation and know-how.
His Excellency Marwan Ahmed bin Ghalita additionally highlighted initiatives to advance the actual property sector by fostering innovation by collaboration with stakeholders, strengthening public-private partnerships, supporting aggressive, sustainable options and enhancing buyer satisfaction by the adoption of superior synthetic intelligence.
As of November 2024, the overall variety of actual property transactions in Dubai reached 188,000, with a mixed worth of AED625 billion, representing a 38% improve in transaction quantity and a 23% rise in worth in comparison with 2023. Notably, property gross sales surpassed AED437 billion for the primary time, marking a 33% progress in comparison with the identical interval final yr.
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