Dubai’s Ambitious 2033 Real Estate Strategy Unveiled at ‘Meet the CEO’ Session

October 29, 2024 Camelia Bhattacharyya Asia Pacific, Business 0

2033 Real Estate Strategy: Dubai’s Roadmap to Global Market Leadership
2033 Real Estate Strategy: Dubai’s Roadmap to Global Market Leadership

To bolster Dubai’s real estate market, the Dubai Land Department has unveiled the Dubai Real Estate Sector Strategy 2033. The announcement was made during the “Meet the CEO” session organized by the Government of Dubai Media Office.

His Excellency Engineer Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, emphasized the strategy’s alignment with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. “This strategy aims to inspire a transformative shift in Dubai’s real estate sector by fostering sustainability and solidifying Dubai’s role as a regional and global leader in real estate,” he stated.

The strategy outlines a focused roadmap to elevate the sector’s economic impact on the emirate by significantly increasing transaction volumes and reinforcing its appeal as a premier destination for international investors.

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“Investing in Dubai extends beyond property acquisition; it offers a high-quality lifestyle, further enhancing market appeal and attracting long-term investment,” added bin Ghalita.

Key performance indicators of the strategy include doubling the real estate sector’s contribution to Dubai’s GDP to approximately AED73 billion, increasing homeownership rates to 33%, growing real estate transactions by 70%, raising the market value to AED1 trillion, and expanding the value of Dubai’s real estate portfolios 20 times to AED20 billion.

The session, moderated by Maryam Al Mulla, Director of the Dubai Press Club, was part of the ‘Meet the CEO’ series, reflecting a collaborative effort to promote positive engagement and constructive dialogue between the media and senior officials from government and semi-government entities across Dubai’s key sectors.

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About Camelia Bhattacharyya 256 Articles
Camelia is an intern for PanAsiaBiz studying at the Amity University, Kolkata [B. Tech (biotechnology)]. She is fond of writing on Science, Health, and Biotechnology topics.

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