Dubai Real Estate Corporation sees a massive 28% growth this year!

With Dubai’s property market booming at its all-time high, the Dubai Real Estate Corporation has announced a 28% jump in revenue and is setting a new budget for the upcoming year. The corporation has a rising portfolio of 55,000 residential and commercial units in 2024.

Sheikh Maktoum, the First Deputy Ruler of Dubai and Chairman of Dubai Real Estate Corporation, led the meeting to review the corporation’s performance and set plans for the future.

DREC’s new budget - Everything you need to know…

During this meeting, Sheikh Maktoum highlighted how important real estate is to Dubai’s economy - It’s a key part of the Dubai Economic Agenda D33, which aims to make Dubai one of the world’s top three cities for business, real estate and lifestyle.

Real estate has boosted the economy significantly - it’s helping other important industries like tourism, hospitality, and infrastructure grow too - making Dubai a world-class hub for business and lifestyle.

What are the big plans ahead for Dubai?

The meeting also discussed the future of Wasl Group, which is the subsidiary of DREC, and currently is leading with bold ideas and projects.

Wasl Group’s portfolio now includes 55,000 homes, more than 35 hotels, golf courses, and over 5,500 industrial plots. These projects support Dubai’s plans to grow its economy and make the city an even better place to live and work.

Wasl Group is also focusing on using new technology to improve its services and is committed to making Dubai a global leader in real estate, hospitality, and leisure.

With the 2025 budget, Wasl plans to have it allocated to incorporating flexible rules, strong partnerships, and a focus on innovation when building new projects.

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