Market Size of United Arab Emirates Real Estate Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UAE Real Estate Market Analysis
- The UAE real estate services market is estimated to register a CAGR of approximately 5% during the forecast period.
- In 2018, the UAE facility management market was valued at USD 5.4 billion. The facility management sector is currently one of the healthiest sectors in the UAE market, due to the increased demand for services, along with the delivery of mega projects, the approach of Expo 2020, and the inauguration of new destinations in the United Arab Emirates. The Emirate’s real estate sector generated an investment value of more than USD 15.2 billion in 2019. Technologies, such as artificial intelligence, remain to be key ingredients in the United Arab Emirates’ quest to keep up with the international changes. The UAE government announced several initiatives, with the aim of driving economic diversification and stimulating the weakened market demand.
- The government’s new initiative in Dubai for permanent residency called ‘Golden Card’ aims to provide permanent residency for investors and exceptional workers in the fields of health, engineering, science, and art. The new 10-year residency visa in the United Arab Emirates may give eligible residents a stronger feeling of permanence in the country and increase property investments. The five-year retirement visa with the condition of owning a property in the country may also see more residents viewing the United Arab Emirates as a long-term option.
- Dubai Land Department launched the Real Estate Self-Transaction (REST) platform, which is a part of the Dubai 10x initiative. This platform allows the digital management of all property-related transactions, as well as access to other services. RERA (Real Estate Regulatory Agency) has also launched Taqyimee, a smartphone application for real estate valuation services. It connects real estate owners and investors to valuators, reducing the time and cost involved in the process. These digital platforms are likely to increase transparency in the Dubai property market, makingit more investor-friendly and improvingaccess to real estate services.
UAE Real Estate Industry Segmentation
This report aims to provide a detailed analysis of the UAE real estate services market. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights into various product and application types. It also analyzes the key players and the competitive landscape in the market.
| By Property Type | |
| Residential | |
| Commercial | |
| Other Property Types |
| By Service | |
| Property Management | |
| Valuation Services | |
| Other Services |
United Arab Emirates Real Estate Services Market Size Summary
The UAE real estate market is poised for steady growth, driven by a combination of government initiatives, technological advancements, and increasing infrastructure investments. The facility management sector, in particular, is thriving due to the demand for services linked to mega projects and new developments, such as those associated with Expo 2020. The introduction of permanent residency options like the 'Golden Card' and retirement visas is expected to bolster property investments by providing a sense of permanence to residents. Digital platforms, such as the Real Estate Self-Transaction (REST) platform and the Taqyimee app, are enhancing transparency and efficiency in property transactions, making the market more attractive to investors.
The market's growth is further supported by the adoption of cutting-edge technologies like blockchain and artificial intelligence, which are optimizing processes and improving security and accountability in real estate transactions. The increasing focus on energy management and smart facilities is also contributing to the sector's expansion, addressing both utility costs and environmental concerns. With significant investments in luxurious and premium facilities, and a collaborative approach between the public and private sectors to manage supply and demand, the UAE real estate market is expected to continue its upward trajectory, with major players like Emaar Development and Aldar Properties leading the charge.
United Arab Emirates Real Estate Services Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Property Type
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2.1.1 Residential
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2.1.2 Commercial
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2.1.3 Other Property Types
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2.2 By Service
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2.2.1 Property Management
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2.2.2 Valuation Services
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2.2.3 Other Services
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United Arab Emirates Real Estate Services Market Size FAQs
What is the current United Arab Emirates Real Estate Services Market size?
The United Arab Emirates Real Estate Services Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in United Arab Emirates Real Estate Services Market?
Emaar Development PJSC, Aldar Properties PJSC, Ejadah Asset Management Group LLC, National Catering Company Limited WLL and Tanzifco Emirates LLC are the major companies operating in the United Arab Emirates Real Estate Services Market.
