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Dubai United Arab Emirates
Dubai has not only achieved a surge in the volume of investments, but has reshaped the investor base within five years
The rise in the number of investors and the value of investments both reflects the expansion of the market and the development of its depth
*The most prominent shift is the expansion of asset diversification opportunities and the construction of long-term investment portfolios
*Expansion of the real estate map opens new opportunities in parallel with the strength of traditional areas
Dubai, United Arab Emirates: An analytical study prepared by W Capital Real Estate Brokerage revealed that the value of real estate investments in the Emirate of Dubai jumped from AED 148 billion in 2021 to more than AED 680 billion in 2025, with a growth of nearly 360% and an increase of more than AED 532 billion.
The study, which comes based on the annual reports and data of the Dubai Land Department, pointed out that this jump was not limited to the size of the funds, as it was accompanied by a remarkable expansion in the number of investors and investments, and a greater diversity in the sources of capital and its polarized regions.
The study monitored an upward trend that extended for five years, during which the number of investors increased from 52,415 to about 193,100 investors, while the number of investments increased from 72,207 to about 258,600 investments, as well as the comparison revealed the growth of the value of funds at a faster pace than the growth of participation, which adds a qualitative dimension to the reading of performance, away from the size of sales and real estate transactions.
Table (1)- Real Estate Investments 2021-2025
Year
Value (in billion dirhams)
Annual growth (%)
2021
148
100
2022
264.2
78.5
2023
412
56
2024
526
27.7
2025
680
29.3
Source: Annual reports and data of the Dubai Land Department, percentages and averages of the study accounts.
Investments more than quadruple
The market began the period with investments amounting to 148 billion dirhams in 2021, then recorded 264.15 billion in 2022, and nearly 412 billion in 2023, and about 526 billion in 2024, before exceeding 680 billion in 2025. According to approximate annual values, growth ranged from 78.5% in 2022 to 56% in 2023, to 27.7% in 2024 to 29.3% in 2025. The trajectory shows continued investment flows despite the frequency of the increase from year to year.
W Capital explained that this development reflects the expansion of the annual volume of the market, as the value recorded in 2025 exceeds the level of 2021 by more than 4.5 times. The comparison is based on the real estate investment index, as it is different from the total transactions or the value of sales.
Table (2) Evolution of the number of investors and investments
Year
Investors
Investments
2021
52,415
72,207
2022
80,216
115,183
2023
113,655
157,798
2024
158,038
About 217,000
2025
About 193,100
About 258,600
Source: Annual reports and data of the Dubai Land Department, percentages and averages of the study accounts.
Broader base and greater investor value
In parallel to the growth of funds, the number of investors increased from 52,415 in 2021 to 80,216 in 2022, then 113,655 in 2023, and 158,038 in 2024, to about 193,100 in 2025. This increase means that about 140.7 thousand investors have joined the annual rule recorded between the two parties of the comparison. The number of investments jumped to about 258.6 thousand, an increase of nearly 258%, which confirms that the growth affected the volume of activity and the expansion of participation together.
The study’s calculations showed that the average value of investments per investor increased from AED 2.82 million in 2021 to nearly AED 3.52 million in 2025, a growth of nearly 25%.
This ratio is an average of calculation resulting from the division of total investments by the number of investors. The average also fluctuated between years, but ended the period at a higher level than its inception.
Table 3 - Average accounting investment value per investor
Year
Million dirhams for the investor
2021
2.82
2022
3.29
2023
3.63
2024
3.33
2025
3.52
Source: Annual reports and data of the Dubai Land Department, percentages and averages of the study accounts.
Attracting additional buyers
One of the most prominent shifts observed by the study is the expansion of the new investor segment, as their number increased from 71,002 in 2023 to 108,451 in 2024, and then to about 129,600 investors in 2025, an cumulative increase of nearly 82.5% in two years. This trend highlights Dubai’s ability to attract additional buyers, as well as the continued activity of those who have already entered the market.
In 2025, the value of investments attributed to new investors amounted to about 348 billion dirhams, compared to 332 billion for recurring investments, or 51.2% and 48.8% of the combined total of the two categories.
The number of recurring resident investments increased from about 72 thousand to 84 thousand during the year, while the investments of new non-residents increased from 55 thousand to 78 thousand. The convergence of the values of the two categories reflects the importance of combining the expansion of the rule and stimulating investment again.
Table 4. Development of new investors
Year
Number of new investors
2023
71,002
2024
108,451
2025
129,600
Source: Annual reports and data of the Dubai Land Department, percentages and averages of the study accounts.
Global capital and different preferences
The 2025 investment source map revealed a wide international presence: Asia and Europe collectively recorded AED 496 billion, distributed by 308 billion for Asia and 188 billion for Europe. North America’s investment was AED 54.63 billion and Africa’s £41 billion. At the sub-district level, South Asia topped with 123 billion dirhams, followed by the Middle East with 96 billion and Northern Europe with 56 billion, according to figures published from the 2025 market review.
W Capital pointed out that the expansion of investment-exporting markets gives real estate demand more than an international tributary, and increases the diversity of needs between residential ownership, rental return and asset diversification. The study did not adopt an annual comparison of continental growth, as the basis of the classification of some geographical groups differed in the data of 2024 and 2025.
There was a clear difference in purchasing preferences during 2025, with 83.7% of non-resident investments turned to real estate on the plan, compared to 16.3% for ready-made properties. Residents were divided between 51.2% on the plan and 48.8% for ready-made properties. The study explains this difference according to the different objectives and the investment horizon, between the desire to benefit from the development of projects and the need for a ready-to-use or lease-ready property.
Table 5. Investment value by geographical region in 2025
Area
Billion Dirhams
Asia
308
Europe
188
North America
54.63
Africa
41
Source: Annual reports and data of the Dubai Land Department, percentages and averages of the study accounts.
Up-and-coming areas redistribute liquidity
At the regional level, the Business Bay region has maintained its lead in terms of investment value, rising from AED 31 billion in 2024 to AED 40 billion in 2025, an increase of nearly 29%. But the largest increase among the areas in the comparison was recorded by the Dubai Investment Park II, which jumped from 10 billion dirhams to 25 billion, a growth of 150 percent, while the value in "Wadi Al-Safa 3" doubled from 11 billion dirhams to 22 billion.
According to the number of investors in 2025, Al-Barsha South Fourth came first by attracting 18,176 investors, followed by Wadi Al-Safa 5 with 12,834 investors, and the Commercial Bay with 12,627 investors. The study believes that the variability of the classification of regions according to the value of investments and the number of buyers highlights the importance of looking at the spread of demand and the size of capital separately.
Table 6. Selected areas between 2024 and 2025
Area
2024 (billion)
2025 (one billion)
Growth (%)
Business Bay
31
40
29
Dubai Investment Park II
10
25
150
Wadi Safa 3
11
22
100
Source: Annual reports and data of the Dubai Land Department, percentages and averages of the study accounts.
Al-Zarooni: The market is moving to diversify the portfolios
Waleed Al Zarouni, Chairman of W Capital Real Estate Brokerage, said that Dubai has not only doubled its real estate investments, but has reshaped the investor base within five years. The importance of this shift lies in the expansion of capital inflows, in parallel with the entry of new segments and the continued activity of existing investors.
“The investment decision is no longer based solely on the price and location of the property; it is linked to net return, operating costs, liquidity and long-term growth opportunities. The new projects and the diversity of the areas give the investor a broader option to build balanced real estate portfolios.”
Al-Zarouni explained that the rise of new investment areas along with traditional sites confirms the expansion of opportunities available, pointing out that the careful evaluation of the market requires reading the value of investment, the number of investors, the frequency of purchase and the distribution of activity between the regions in an integrated manner.
A deeper and more diverse phase
The study concluded that the real estate market in Dubai moved between 2021 and 2025 to a greater level in terms of size, breadth of participation and diversity of options. As infrastructure, legislation and urban communities continue to be developed, the quality of projects, sustainable returns and efficient asset management are highlighted as more influential factors in the selection of future investments.
W Capital stressed that the strength of the market lies in its ability to attract new investors, encourage recurring investments, and distribute capital on a wider geographical scale, thus enhancing Dubai’s position as a global destination for long-term real estate investment.
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About W Capital Real Estate Brokerage
Established in 2007 in the United Arab Emirates, W Capital is a company licensed by Dubai’s Department of Economy and Tourism and the Real Estate Regulatory Authority (RERA). It provides brokerage and real estate consultancy services, selling, buying and renting real estate, and cooperates with more than 100 real estate developers in the country, while the value of real estate it has marketed since its establishment exceeded 1.5 billion dirhams.
About Walid Al Zarouni
Waleed Al Zarouni is the founder and chairman of W Capital Real Estate Brokerage, a real estate expert certified by the Real Estate Regulatory Authority (RERA) and the author of Smart Real Estate Investor Secrets, and is one of the most prominent real estate voices in the UAE, providing awareness content and periodic analysis of the real estate market through social media platforms.
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