UAE’s dedication to sustainability – GulfToday – Gulf Today

UAE’s dedication to sustainability – GulfToday – Gulf Today

A general view of the villa community in Dubai.

Inayat-ur-Rahman, Business Editor

Dubai As the UAE leads in sustainable urban development, Dubai’s real estate market is experiencing significant growth. The Dubai 2040 Urban Plan, aiming to accommodate 7.8 million residents by 2040, marks a new chapter in real estate development and brokerage.

As we move into 2024, property prices in Dubai are expected to rise by 5%, with the overall market projected to grow by 15%. This indicates a notable shift towards homeownership, driven by the city’s expanding population and evolving real estate dynamics.

Central to this growth is a strong focus on sustainability and the integration of technology. In line with global environmental initiatives and COP28 outcomes, there’s an increasing demand for eco-friendly real estate developments. Furthermore, the UAE’s smart home market is expected to reach $113.8 million by 2028, reflecting a commitment to technologically enhanced living spaces.

Springfield Properties, a leading brokerage firm in Dubai’s real estate market, has been at the forefront of these developments since 2008. Supported by over 140 real estate professionals and marketing experts, the company is known for its commitment to innovation and customer-centric services.

Farooq Syed, CEO of Springfield Properties, shares insights on the evolving real