Property Demand in Dubai & 5.4M Population by 2040
Emirate will require:
- Almost the double of existing supply, because of a likely increase in the city’s population.
- Supply of apartments and villas in Dubai is over 690,498 units as of 2020, catering to the city’s 3.4 million (m) population.
- Between 483,000 and 550,000 additional residential units required over the next two decades to accommodate its estimated 5.4m population by 2040.
- Requirement of new units is estimated between 24,150 and 27,500 a year.
Highlights of 2040 Urban Master Plan
1. Launched in early March.
2. Dubai’s population is expected to increase from the existing 3.4m to 5.8m by 2040.
3. Emirate will have five main urban centres, including two new ones.
4. Reinforces Dubai’s competitiveness as a global destination.
5. Creating an environment where people from around the world.
6. Thrive with sustainability, diversity and inclusiveness as key focus areas.
Things to Remember
- Approximate household size of 4.9 per unit.
- 483,550 additional units will be required by 2040.
- Works out to around 24,000 units per year for the next 20 years.
- Additional supply required over the next two decades.
- Total number of residential units in Dubai stands at around 555,000.
- Total number of apartment units in Dubai is at around 472,000.
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