USD 22 BILLION IN LAND SOLD IN DUBAI IN 2024
Land sales volume in Dubai exceeded USD 22 billion in 2024. Land purchases—an area Turkish investors have rapidly turned to—have become a strategic investment option in the post-pandemic period. The locations most preferred by Turkish investors include Downtown, Palm Jumeirah, Marina, Dubai South, Jumeirah Village Circle, and Creek Harbour.
Dubai has recently drawn attention from Turkish nationals particularly through land investments. In 2024, the total value of land purchased in Dubai by Turkish investors was recorded at USD 22 billion, a striking 64% increase compared to 2020. The locations most preferred by Turkish investors are Downtown, Palm Jumeirah, Marina, Dubai South, Jumeirah Village Circle, and Creek Harbour.
While global real estate markets have seen a choppy course after the pandemic, Dubai has painted a different picture. Özden Çimen, CEO of Turkish real estate investment advisory firm Parcel Estates, assessed this shift as follows:
“As we moved from 2020 to 2021, sales volume across all real estate types increased by more than 110%. This is no coincidence, it shows that Dubai is a safe harbor for global investors.”
Strategic Growth in Land Investments
Çimen drew attention to the notable rise in land investments: “In 2024, land sales volume in Dubai exceeded USD 22 billion. This represents a 364% increase compared to 2020. Land is no longer a luxury, it’s a strategic investment. Parcels acquired especially in locations close to the city center offer high return potential.”
Locomotive Areas and New Risers
Evaluating Dubai’s standout investment areas, Çimen said, “Downtown, Palm Jumeirah, and the Marina promise the strongest growth. However, emerging districts like Dubai South, Jumeirah Village Circle (JVC), and Creek Harbour hold pleasant surprises for long-term investors.”
Investor-Friendly Legal Process and Tax Advantage
Reminding that foreign investors have been able to buy land in freehold areas since 2016, Çimen noted, “The process conducted via the Dubai Land Department (DLD) proceeds much faster and more smoothly with experienced advisors. In addition, the absence of an annual property tax in Dubai significantly increases net returns compared to London or New York.”
Record in Commercial Real Estate
Pointing out that sales volume in commercial units reached 10 billion dirhams in 2024, Çimen added, “This figure represents 592% growth compared to 2020. Dubai is now preferred not only for living, but also for starting businesses, trading, and deploying capital.”
A Message to Turkish Investors
Çimen emphasized that opportunities remain strong for Turkish investors:
“Considering the exchange-rate advantage, Dubai’s tax-friendly system, and its global connectivity, it’s not too late. For investors planning 5–10 years ahead, Dubai is still a major opportunity. Now is the time to make strategic decisions with the right location and the right product.”