The GCC Real Estate Market Expected to Surpass $5 Trillion by 2028

The GCC Real Estate Market Expected to Surpass $5 Trillion by 2028

The real estate sector in the Gulf Cooperation Council (GCC) region is witnessing remarkable growth, poised to surpass $5 trillion by 2028, as indicated by a recent report. Amid this flourishing landscape, the International Property Show stands as a significant platform for investors looking to engage in this thriving market.

The GCC real estate market is set for impressive growth, as highlighted by a Statista report forecasting its value to hit $4.43 trillion by the conclusion of 2023. Within this market, residential real estate takes the lead with an estimated volume of $2.98 trillion. 

Anticipating a consistent annual growth rate (CAGR 2023-2028) of 2.65 percent, this segment is projected to soar to $5.05 trillion by 2028, affirming its pivotal role in the market’s expansion.

Surge in Gulf Cooperation Council (GCC) Real Estate Industry

The International Property Show 2024 (IPS) taking place at the Dubai World Trade Centre from February 27-29, 2024, stands as the prime avenue for international investors to discover and leverage opportunities in the thriving market.

The vibrant UAE property sector has been a catalyst, contributing significantly to the GCC’s real estate landscape. According to a comprehensive report by Kamco Invest, real estate sale transactions in the GCC soared to an impressive $143.1 billion between January and October 2022. 

This notable figure exceeded the entire-year total of $136.9 billion in 2021, signifying the robust performance of various real estate sub-segments within the region. Dubai and Abu Dhabi emerged as key contributors, jointly accounting for more than 48 percent of the total transaction value, aligning with Dubai Economic Agenda D33 and Abu Dhabi Economic Vision 2030. 

The GCC Real Estate Market Expected to Surpass $5 Trillion by 2028
The GCC Real Estate Market Expected to Surpass $5 Trillion by 2028

Additionally, Saudi Arabia bolstered the region’s trajectory, contributing 35.6 percent to the overall transaction value in accordance with its Saudi Vision 2030, further consolidating the upward momentum of the real estate sector across the GCC.

The Kamco report emphasized a substantial 81 percent surge in transaction value in Dubai, driven by heightened demand for luxury residential properties alongside robust revenues in the affordable segment. 

Furthermore, both Saudi Arabia and Dubai witnessed a notable increase in the average value per transaction, rising by 35.5 percent and 12.2 percent, respectively. These figures highlight a growing end-user demand and a robust appetite for investment in both markets.

Given these statistics, IPS 2024 offers an ideal platform for investors, developers, and industry professionals to immerse themselves in the flourishing GCC real estate market.

The event guarantees exclusive insights, networking avenues, and an opportunity to explore lucrative investment prospects within the evolving Gulf region real estate landscape. 

IPS aims to facilitate knowledge and experience sharing among exhibitors, key industry players, government officials and agencies, and visitors, further enhancing opportunities for collaboration and growth within the real estate market.

The event will act as a platform for fostering new agreements and partnerships, fostering stronger connections among real estate market stakeholders across various GCC countries.

IPS 2024, held in collaboration with the Dubai Land Department, draws exhibitors from over 140 countries worldwide, spanning from India, the United Kingdom, Turkey, Pakistan, Saudi Arabia, Qatar, Oman, and Egypt, in addition to the UAE.

In celebration of its 20th anniversary, IPS will showcase an extensive array of events encompassing its 11 main pillars. These pillars include IPS Exhibition, IPS Conference, IPS Oscars, IPS Future Cities, IPS Connect, IPS Finance, IPS Women, IPS Youth, IPS Studio, IPS PropTech, and IPS Design. 

What’s unique about this edition is that these events are not limited to a single occurrence but will be organized throughout the entire year.

Arshad Darbar’s FeedbackCEO of House Finder

Arshad Darbar, a real estate professional, sees immense promise in the GCC real estate market’s projected growth surpassing $5 trillion by 2028. He acknowledges the significance of heightened transaction values in key regions like Dubai, Abu Dhabi, and Saudi Arabia, and recognizes the International Property Show 2024 in Dubai as a crucial avenue to explore and leverage the evolving market’s potential. 

Darbar views the upcoming year-long events planned by IPS 2024 as an opportunity for networking, knowledge exchange, and partnership-building, aligning well with his strategic approach to capitalize on this dynamic real estate landscape.

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