Dubai’s Population Surge of 220,000 in 2024 Drives Real Estate Boom: DAMAC

Dubai’s real estate market continues its upward trajectory, with over 220,000 people relocating to the emirate in the first half of 2024, according to Amira Sajwani, Managing Director of DAMAC Properties.

This surge in population further fuels the growing demand for residential units.

Speaking at the launch of "Riverside Views," DAMAC’s first project for 2025, Sajwani highlighted Dubai’s strategic appeal. “The real estate market in Dubai is experiencing exceptional momentum, with strong demand continuing from both investors and end-users,” she said.

She attributed Dubai’s allure to its prime location between Europe and Asia, alongside investor-friendly policies.

“The demand for real estate in the UAE is unmatched by other markets. Some of the projects launched by the company have achieved billions of dollars in sales within just a few hours,”

Sajwani added.

DAMAC’s international expansion is also gaining momentum, with Sajwani revealing that the investment value of the company’s new Miami project exceeds $1 billion. Designed by the renowned Zaha Hadid Architects, the development underscores DAMAC’s commitment to innovative and high-end real estate.

Meanwhile, Riverside Views introduces a sophisticated collection of one- and two-bedroom apartments across eight uniquely themed clusters—Teal, Azure, Marine, Indigo, Royal, Capri, Sun, and Pacific. Designed to foster a deep connection with nature and community, the project features lush greenery and water elements, enhancing residents' well-being.

As Dubai cements its status as a global property hotspot, DAMAC remains at the forefront of shaping the city’s luxury real estate landscape, delivering iconic and forward-thinking developments.

News Source: Emirates News Agency