Dubai developer Sobha Realty plans to launch eight to ten new “multibillion-dirham” projects this year in response to the UAE’s real estate boom. Additionally, according to the company’s founder, the company wants to enter the US market. The developer would also launch a new residential complex in Abu Dhabi, according to PNC Menon. The developer debuted multiple new towers in pre-existing communities and four new master plans in 2024.

With its projects in Dubai and Umm Al Quwain, Sobha expects to generate Dh22 billion and Dh8 billion of its projected Dh30 billion ($8.16 billion) in 2025, a 30% annual increase in revenue. Last year, the business and Umm Al Quwain Properties unveiled a luxurious property on Al Siniyah Island. 

The company sold homes to customers in 50 countries last year, with the UK, China, and India making up the majority of sales. “More or less stable,” Mr. Menon added, is what the real estate market should be this year. “You have seen how people are now drawn to this location. Europeans have also started to settle here. That is really good for the real estate market. 

Dubai has had 188,000 real estate sales as of November, with a combined value of Dh625 billion. This shows a 23% increase in values and a 38% increase in volumes year over year, according to data from the Dubai Land Department.

Government initiatives such as the extension of the 10-year golden visa program, residency permits for remote and retired workers, and overall economic growth in the UAE due to diversification efforts continue to support the real estate market.

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