The real estate sector in the UAE has continued to flourish in Q2 2024, with real estate development companies in Dubai and Abu Dhabi growing by 29%, recording 5.7 billion dirhams ($1.5 billion).

According to monitoring, the profits of real estate companies in Dubai increased by 29% to record 4.07 billion dirhams, while Abu Dhabi real estate recorded profits worth 1.6 billion dirhams, an increase of 29%.

Sales and leasing operations also increased in Dubai, which was reflected in an increase in prices. The emirate witnessed a 28% surge in the value of sales and a 34% increase in the number of residential unit sales transactions during the year, according to a report issued by JLL.