Explore and invest in thriving GCC real estate market at IPS 2024

Explore and invest in thriving GCC real estate market at IPS 2024

Dubai, UAE – (ARAB NEWSWIRE) -- The Gulf Cooperation Council (GCC) real estate market is experiencing unprecedented growth, and the International Property Show 2024 (IPS) at the Dubai World Trade Centre, from February 27-29, 2024, is the premier platform for global investors to explore and capitalize on the flourishing market.

The GCC real estate market's remarkable growth is further underscored by the projection that its value will reach US$4.43 trillion by the end of 2023, according to a Statista report. Residential real estate dominates the GCC market with a projected volume of US$2.98 trillion, displaying a steady annual growth rate (CAGR 2023-2028) of 2.65%, expected to reach US$5.05 trillion by 2028.

The buoyant UAE property sector has been a driving force, with real estate sale transactions across the GCC reaching an impressive $143.1 billion from January to October 2022, as per a comprehensive report by Kamco Invest. This figure surpassed the full-year total of $136.9 billion in 2021, showcasing the robust performance of the region's real estate sub-segments.

Dubai and Abu Dhabi played a pivotal role, contributing over 48% of the total transaction value in line with Dubai Economic Agenda D33 and Abu Dhabi Economic Vision 2030, respectively. Meanwhile, Saudi Arabia added 35.6%