In Dubai, commercial real estate sales, including offices and shops, surged significantly in Q1 of 2024, marking a 30.8% growth compared to the same period in 2023, Invest-Gate reports.

This growth reflects sustained demand for commercial spaces, signalling expansion in companies and businesses across the emirate.

According to Dubai’s Land Department, commercial property sales reached AED 1.91 bn through 974 transactions in the current quarter, compared to AED 1.46 bn through 884 transactions in the same period last year.

Furthermore, this robust growth in demand for commercial real estate in Dubai is a significant indicator of positive economic trends in the emirate. It underscores the importance of commercial properties in driving the local economy, attracting investments, and boosting investor and business confidence.

Moreover, the sales breakdown reveals that offices generated AED 1.35 bn through 665 transactions in Q1 2024, and shops generated AED 566.6 mn through 309 transactions.

The positive commercial real estate demand trend signifies business expansion in the emirate, often correlated with growth in various economic sectors such as trade, tourism, and financial services.

Notably, Dubai remains an attractive destination for regional and international companies to establish operations. Rising economic confidence is fueling the need for offices, shops, and industrial and logistics spaces.