Knight Frank – Global Demand for Dubai Real Estate, 2024

The Dubai Economic Agenda, known as D33, aims to double foreign trade and establish the city as a prominent financial center by 2033. With plans to double the population by 2040, the city will require 70,000 new homes annually, far surpassing the current annual completion rate of 22,000 homes. Economic growth in the non-oil sector is strong, leading to increased demand across all real estate sectors. Knight Frank conducted surveys of high-net-worth individuals from various countries to understand their attitudes towards investing in Dubai real estate. The surveys highlighted a positive sentiment towards Dubai, with demand outstripping supply leading to price growth and rent escalations, particularly in prime residential and Grade A office markets. The surveys aimed to assess the aspirations of global high-net-worth individuals when it comes to property investment in Dubai.