Market Size of United Arab Emirates Real Estate Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Real Estate Market Analysis
- The UAE real estate services market is estimated to register a CAGR of approximately 5% during the forecast period.
- In 2018, the UAE facility management market was valued at USD 5.4 billion. The facility management sector is currently one of the healthiest sectors in the UAE market, due to the increased demand for services, along with the delivery of mega projects, the approach of Expo 2020, and the inauguration of new destinations in the United Arab Emirates. The Emirate’s real estate sector generated an investment value of more than USD 15.2 billion in 2019. Technologies, such as artificial intelligence, remain to be key ingredients in the United Arab Emirates’ quest to keep up with the international changes. The UAE government announced several initiatives, with the aim of driving economic diversification and stimulating the weakened market demand.
- The government’s new initiative in Dubai for permanent residency called ‘Golden Card’ aims to provide permanent residency for investors and exceptional workers in the fields of health, engineering, science, and art. The new 10-year residency visa in the United Arab Emirates may give eligible residents a stronger feeling of permanence in the country and increase property investments. The five-year retirement visa with the condition of owning a property in the country may also see more residents viewing the United Arab Emirates as a long-term option.
- Dubai Land Department launched the Real Estate Self-Transaction (REST) platform, which is a part of the Dubai 10x initiative. This platform allows the digital management of all property-related transactions, as well as access to other services. RERA (Real Estate Regulatory Agency) has also launched Taqyimee, a smartphone application for real estate valuation services. It connects real estate owners and investors to valuators, reducing the time and cost involved in the process. These digital platforms are likely to increase transparency in the Dubai property market, makingit more investor-friendly and improvingaccess to real estate services.
