The UAE real estate market saw exciting developments in December 2024. With new projects announced and strong property sales, the sector continues to grow. The government’s initiatives and relaxed visa policies have further boosted confidence in the market. Staying updated on the latest real estate news in the UAE can help you make smarter decisions. Let’s dive into the UAE real estate news from December 2024 to see what’s shaping the UAE property landscape.
UAE Property News December 2024
After covering UAE property news from November 2024, we have compiled a detailed round-up of UAE’s property news from December.
Dubai Land Department Announced a New Smart Rental Index
The Dubai Land Department (DLD) is launching the Smart Rental Index in January 2025. This new tool will help make renting in Dubai fairer by showing accurate rental prices. The index calculates rent using information like the property size, location, view and extra features. This will stop landlords from charging too much and ensure tenants pay fair prices. It will also help people make better decisions when renting a home. With the Smart Rental Index, landlords and tenants will know what is fair and avoid problems, making the rental market in Dubai more balanced.
Abu Dhabi City Municipality Completes Landscaping Work at the VIP Platform for Camel Races – Southern Arena
The Abu Dhabi City Municipality has completed landscaping at the VIP Platform in the Southern Arena, enhancing the camel racing experience. This project is part of the municipality’s efforts to improve public spaces and promote cultural events. The landscaping includes planting various plants and flowers, creating a pleasant environment for visitors. The municipality continues to invest in beautifying public areas to improve the quality of life for residents and visitors. The VIP Platform offers premium seating for an enhanced viewing experience. The recent landscaping aims to make the venue more attractive and comfortable for all attendees.
Abu Dhabi City Municipality Decorates the Corniche and Bridges with Festive Lights for 2025
In December 2024, the Abu Dhabi City Municipality decorated several streets and bridges in Abu Dhabi with festive lights to celebrate 2025. The decorations included hundreds of illuminated panels and geometric formations, creating a vibrant atmosphere for residents and visitors. The Abu Dhabi Corniche, a popular waterfront promenade, was adorned with these light formations. Several streets within Abu Dhabi and bridges, including Al Maqta Bridge, were also decorated.
The illuminated formations featured attractive colours of white and yellow, with pulsating movements expressing joy and optimism for the New Year. The municipality ensured safety while installing lights and decorations by using high-quality materials and considering the choice of colours and light emissions to avoid affecting road users.
UAE: Ministry of Energy and Infrastructure Marks Notable Achievements in 2024
In 2024, the UAE Ministry of Energy and Infrastructure made significant advancements in housing. The Sheikh Zayed Housing Programme has issued over 90,000 housing support decisions, totaling nearly AED 60 billion. In the past three years alone, nearly 13,000 decisions were made, valued at AED 10 billion. The “Manzli” initiative also made housing services more efficient, reducing required documents and processes. These efforts aim to improve family stability and streamline housing support for citizens.
Sheikh Mohammed Announces Massive ‘Dubai Walk’ Project
In December 2024, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Ruler of Dubai, announced the ‘Dubai Walk‘ project to transform Dubai into a pedestrian-friendly city. The plan includes developing 3,300 new walkways featuring 110 pedestrian bridges and tunnels, 112 kilometres of scenic waterfront pathways, 124 kilometres of green walking trails and 150 kilometres of rural and mountainous pedestrian paths.
This initiative is designed to connect various parts of the city, making it more accessible and enjoyable for pedestrians. The project also focuses on creating a ’20-minute city,’ where essential services and amenities are within a 20-minute walk from residents’ homes. The ‘Dubai Walk’ project aims to enhance the city’s livability and sustainability by implementing innovative cooling solutions in corridors and areas between buildings.
Ajman Approves AED 3.67 Billion Budget For Infrastructure, Community and Economic Development In 2025
Ajman’s 2025 budget highlights key property and real estate investments. The government is focused on enhancing the business environment, attracting investment and supporting sustainable development. The real estate market in Ajman has been growing, with a significant increase in property transactions. This growth shows a strong demand for residential properties, indicating that Ajman is becoming an increasingly attractive place for living and investment. Additionally, the government is committed to promoting modern and sustainable building practices.
Ras Al Khaimah Real Estate Hits AED 11.95B, up 70% since 2020
Ras Al Khaimah’s real estate sector has grown significantly, reaching AED 11.95 billion in 2024, a 70% increase since 2020. This growth reflects Ras Al Khaimah’s increasing appeal for investors and residents. Key factors contributing to this growth include robust demand for residential, commercial and industrial properties. The emirate’s strategic initiatives, including infrastructure development and foreign investment incentives, drive the sector’s success.
Dubai Is Building Thousands Of Villas To Meet Soaring Demand For Upmarket Property
Dubai’s luxury real estate market is struggling to meet the demand of wealthy expats. Property prices are rising, particularly in prime neighborhoods like Palm Jumeirah and Emirates Hills. To address the shortage, Dubai is building thousands of new luxury villas, with 9,000 units to be completed by the end of 2024 and another 19,700 are expected to reach completion in 2025. However, experts predict the city will need tens of thousands more homes by 2040 to accommodate its growing population.
Mohammed Bin Rashid Housing Establishment, Wasl Sign MoU
On December 22, 2024, the Mohammed Bin Rashid Housing Establishment (MBRHE) and Wasl Group signed a Memorandum of Understanding (MoU) to develop sustainable housing projects in Dubai. The agreement aims to improve the quality of life for citizens by focusing on innovative housing solutions that align with Dubai’s Urban Plan 2040.
As part of the collaboration, Wasl Group will have priority access to future investment opportunities in the housing sector. The MoU also emphasises exchanging knowledge and expertise between both organizations to enhance housing services and adopt innovative technologies for future projects. This partnership represents a strategic step toward delivering sustainable and high-quality housing solutions to meet the needs of Dubai’s residents.
ONE Development Announces Strategic Collaboration With Amr Diab
ONE Development has partnered with music legend Amr Diab in a strategic two-year collaboration. Diab will represent ONE Development in marketing campaigns, product launches and exclusive events. The partnership aims to redefine luxury living by creating AI-integrated residential communities like Laguna Residence. The collaboration reflects ONE Development’s commitment to innovation and creating aspirational living spaces for a global audience.
Ohana Development and Jacob & Co. Partner to Launch AED 4.7b Project
Ohana Development has partnered with luxury brand Jacob & Co. to unveil a new AED 4.7 billion beachfront living project in Abu Dhabi. Jacob & Co. Beachfront Living by Ohana will offer exclusive villas and apartments, combining luxury design with stunning sea views and access to a natural reserve. The project aims to redefine luxury living and feature unique amenities such as the Jacob & Co. Beach Club and Residents Club. The project is expected to be completed by Q2 2028.
Chestertons MENA Expands into Sharjah’s Real Estate Market
As per the property and infrastructure investment news UAE, Chestertons MENA has expanded into Sharjah’s real estate market to enhance its regional presence. This move allows the company to offer a broader range of services and capitalise on Sharjah’s growing demand for residential, commercial and industrial properties. Chestertons plans to assist clients with property investment opportunities and contribute to developing the emirate’s real estate sector.
Ajman Contracts Consultancy Jll To Create A New Strategy For Its Real Estate Sector
Ajman has partnered with global consultancy JLL to create a new strategy for its real estate sector. The goal is to boost the emirate’s real estate market by attracting investment, improving transparency and modernising regulations. JLL’s role includes offering market insights and recommending measures to enhance sector growth aligned with Ajman’s economic goals. The collaboration aims to strengthen Ajman’s position in the regional property market and enhance its appeal to local and international investors.
FAQs
What is the Smart Rental Index and how does it work?
The Smart Rental Index, set to launch in January 2025, helps ensure fair rental pricing in Dubai. It calculates accurate rental rates using property size, location and features. Have a look at Dubai Urban Master Plan 2040 to see the government’s goals for the future.
How will the ‘Dubai Walk’ project transform the city?
The ‘Dubai Walk’ project aims to create a pedestrian-friendly urban environment. It includes the development of new walkways, scenic waterfront paths and green trails to improve mobility and accessibility.
What improvements has Abu Dhabi made to public spaces?
Abu Dhabi has completed landscaping at the VIP Platform in the Southern Arena, enhancing the camel racing experience. This initiative aligns with the city’s efforts to improve public spaces, increase visitor satisfaction and contribute to the cultural and environmental well-being of the community.
What impact will Ajman’s 2025 budget have on real estate development?
Ajman’s AED 3.67 billion budget focuses on boosting infrastructure and economic development, with significant investments in the real estate sector. This growth strategy aims to attract more investors, create job opportunities and support sustainable development.
What factors are driving Ras Al Khaimah’s real estate growth as per news on property UAE from December?
Ras Al Khaimah’s real estate market surged by 70% since 2020, reaching AED 11.95 billion in 2024. Key factors include growing demand for residential, commercial and industrial properties.
What is the significance of the collaboration between Ohana Development and Jacob & Co.?
Ohana Development’s collaboration with luxury brand Jacob & Co. brings a new level of sophistication to Abu Dhabi’s real estate market. The AED 4.7 billion beachfront project offers high-end villas and apartments.
This was all about the UAE property news of December 2024. The UAE’s real estate market saw increased property sales and new luxury developments. Tax benefits and the country’s stable economic environment drive this growth. If you’re interested in investing in this booming market, there are various properties for sale in the UAE to explore.
For new property and infrastructure project news in UAE, stay tuned to dubizzles’s property blog.
