A new market research projected return on investments of up to 50% for some of the projects in Abu Dhabi’s upcoming and popular islands over the next three years, turning them among the most sought after residential real estate markets in the coming year.

‍

In the dynamic landscape of UAE real estate, a recent market research study conducted by Dubai-based global proptech DVPI forecasts promising opportunities in Abu Dhabi, Ras Al Khaimah (RAK), and Dubai for investors in 2024. 

‍

Abu Dhabi: A Haven of Stability and Growth

‍

Abu Dhabi emerges as a beacon of stability, offering steady organic growth and proven profitability in prime locations. With a plethora of cultural and entertainment attractions, hosting over 100 global events annually, and a reported target of 24 million international tourist arrivals by 2023, the capital city is poised to attract real estate investors from around the world. Noteworthy projects like Q Property's upscale developments, Maskan and Makany on Reem Hills, and Aldar's Gardenia on Yas Island, are expected to yield over 50% return, while 9 Yards' Sea La Vie on Yas Island is projected to see over 30% investment appreciation within three years.

‍

DVPI underscores Abu Dhabi's solid organic growth, lower speculative demand, and reduced risk of sharp declines in property values, making it a highly attractive investment destination.

‍

‍

RAK: Affordable Prices and a Tourism Boom

‍

Ras Al Khaimah (RAK) stands out with affordable real estate prices, bolstered by the recent announcement of its first-ever casino. The groundbreaking project has ignited a surge in real estate prices and foreign investments, riding on the boom in tourist arrivals. The DVPI study estimates over a 25% spike in hotel room occupancy growth in 2023 and highlights the potential for substantial growth in real estate prices, particularly in areas around the casino. Bloomberg estimates an annual gaming revenue potential of $6.6 billion in RAK, surpassing even Singapore.

‍

The DVPI research indicates a considerable surge in RAK's real estate prices in recent months, with the total transaction value nearing the cumulative value of the entire previous year within the first eight months of 2023.

‍

‍

Dubai: Innovation and Resilience Leading the Way

‍

Dubai continues to lead the UAE's real estate market with innovation and resilience. Iconic projects such as Dubai Hills, Sobha Hartland, and Bluewaters Island showcase a harmonious blend of sustainability and innovation. DVPI predicts a growth forecast ranging from 18.5% to 22.1% within one year in key Dubai areas, emphasizing the emirate's commitment to cutting-edge urban planning.

‍

Simon Pitkin, Managing Partner at DVPI, highlights Dubai's significant earning potential for investors, citing impressive property price growth in the Dubai Hills development and forecasting further appreciation in the next five years.

‍

In conclusion, DVPI identifies Abu Dhabi, RAK, and Dubai as strategic hubs for real estate investors in 2024, each offering unique opportunities for capitalizing on the dynamic growth in the Middle Eastern real estate landscape.

‍

Got any questions or looking to invest? Here’s how we can help…

‍

➤ Book a 15-minute consultation here

‍

➤ View our latest projects here 

‍

➤ Send us a WhatsApp message here

‍

➤ Call us on +971 4 494 3874