The UAE real estate market is set to reach a value of AED 2.5 trillion ($681 billion) by the end of 2024, according to QUBE Development. This growth is largely driven by the off-plan sector which accounted for 65% of overall sales transactions in August 2024, marking a 54% increase compared to the same month last year.

Data analytics platform Statista supports this forecast highlighting the influx of high-net-worth individuals (HNWIs) seeking strong investment opportunities, particularly in the luxury property market.

These wealthy investors are focusing on off-plan projects where numerous ultra-luxury developments and megaprojects are currently in progress.

QUBE recently launched its first residential project Cubix Residences in Jumeirah Village Circle (JVC). The company plans to further invest AED 2.6 billion ($708 million) in Dubai's market by the end of 2025.

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