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GCC real estate market to exceed $5 trillion by 2028

According to a recent report, the Gulf Cooperation Council (GCC) real estate market is experiencing unprecedented growth and is expected to surpass the USD 5 trillion mark by 2028. According to Statista, the value of the market is expected to reach 4.43 trillion dollars by the end of 2023.

Residential real estate dominates the GCC market with a projected volume of USD 2.98 trillion and a steady compound annual growth rate (CAGR 2023-2028) of 2.65%, which is expected to reach USD 5.05 trillion by 2028.

The International Property Show 2024 (IPS), taking place from February 27-29, 2024 at the Dubai World Trade Centre, is the premier platform for global investors to explore and capitalize on this thriving market.

The UAE’s thriving real estate market has played a crucial role: US$143.1 billion worth of real estate sales were made across the Gulf Cooperation Council (GCC) from January to October 2022, surpassing the full-year figure of US$136.9 billion in 2021. Dubai and Abu Dhabi contributed more than 48% of the total value of transactions, in line with Dubai’s Economic Agenda D33 and Abu Dhabi’s Economic Vision 2030 respectively. Meanwhile, Saudi Arabia contributed 35.6% of the total transaction value in line with its Saudi Vision 2030, consolidating the region’s upward trend.

A report by Kamco Invest highlights an 81 percent increase in transaction value in Dubai, driven by demand for luxury residential properties and robust sales in the affordable segment. The average value per transaction in Saudi Arabia and Dubai rose by 35.5% and 12.2% respectively, indicating rising end customer demand and strong investment interest.

In light of these promising figures, IPS 2024 provides the ideal platform for investors, developers and industry experts to familiarize themselves with the thriving GCC real estate market. The event promises exclusive insights, networking opportunities and a chance to explore lucrative investment opportunities in the Gulf region’s evolving real estate landscape.

The IPS will help to improve the opportunities for knowledge and experience sharing between exhibitors, key players in the real estate market, government representatives and authorities, and visitors. The event will also serve as a platform for new agreements and partnerships to strengthen ties between real estate market players from different countries in the GCC region.

In cooperation with the Dubai Land Department, IPS 2024 attracts exhibitors from over 140 countries worldwide, including India, the UK, Turkey, Pakistan, Saudi Arabia, Qatar, Oman and Egypt in addition to the UAE.

For its 20th anniversary, IPS will offer a variety of events falling under its 11 main pillars, namely IPS Exhibition, IPS Conference, IPS Oscars, IPS Future Cities, IPS Connect, IPS Finance, IPS Women, IPS Youth, IPS Studio, IPS PropTech and IPS Design, which will be organized not just once but throughout the year.

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