Dubai population on track to reach 4 million this year
Dubai's population continued to increase at a steady pace in the first quarter of 2025, crossing 3.9 million for the first time as the inflow of new residents continued.
According to Dubai Statistics Centre data, the emirate's population grew 51,295 during January to March 2025 as compared to 52,143 during the same period last year, reflecting Dubai and UAE's maintaining strong appeal for foreign professionals and millionaires.
At the end of the first quarter of 2025, Dubai's population stood at 3.914 million.
If the population continues at the current pace, it is expected that the population of the regional financial centre is set to reach 4 million landmark in the third quarter of this year.
In 2024, the emirate's population grew by over 169,000 to 3.825 million. It was the fastest increase in annual population rate since 2018.
The emirate's growing population will drive growth of multiple sectors mainly real estate, retail, food and beverages (F&B), travel and tourism, hospitality and many others.
Emirates NBD Research noted in its Global Investment Outlook 2025 that the UAE's non-oil economy is 'benefitting from growing population.'
'A key driver of economic growth for the UAE is its expanding population. A vibrant labour market, long-term resident visas, coupled with best-in-class infrastructure for corporates, encourage white-collar workers to shift to the UAE. This steady influx of residents boosts consumption across real estate, telecom, retail and hospitality, supporting sustainable economic growth,' said Maurice Gravier, group chief investment officer, Emirates NBD Research.
He added that the UAE's growing working-age population will be one of the main economic growth drivers and prosperity in the country.
According to Emirates NBD Research, Dubai's GDP grew 3.1 per cent in the first 9 months of 2024 as the total level of real GDP reached Dh339 billion, up from Dh329 billion estimated for the first 9 months of 2023.
According to the Global Investment Outlook 2025, the UAE is witnessing 'a growing affluent expat population' which accounts for a major portion of Dubai and UAE's population.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
29-04-2025
- The National
New law on public land will boost Dubai's status as an investable city, experts say
Dubai will become more appealing to investors and developers thanks to a new law focusing on the allocation of public land, property experts say. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, issued the new law on Monday to align the allocation of public land with the Dubai 2040 Urban Master Plan, the state news agency Wam reported. The ruling has been welcomed by property experts in the city who believe it will boost Dubai's profile by offering clarity on public land processes. 'This law reinforces the structured planning framework investors prioritise when allocating capital to urban markets,' said Farooq Syed, chief executive of Springfield Properties. "It strengthens Dubai's position as a globally investable city anchored by transparent governance and long-term growth planning.' By removing ambiguity from public land processes, the law increases predictability for developers and investors, he said, adding that it also ensures that infrastructure and services in future urban communities are planned in tandem with residential and commercial growth. 'Centralising oversight around verifiable public need enhances operational efficiency and improves the predictability of development pipelines,' said Mr Syed. 'Such clarity is critical for maintaining Dubai's appeal to institutional and private investors alike.' The new law addresses the urgent need to co-ordinate residential development, transport, health care, and education facilities across the city's rapidly expanding urban footprint, he added. The Dubai Urban Master Plan 2040 estimates the city's population will rise to 5.8 million by 2040. Currently, the Dubai Statistics Centre estimates the population to be 3.8 million. The new law also strengthens Dubai's continuing pivot towards intentional, sustainable growth, aligning with global governance standards seen in cities such as Singapore and Copenhagen, where land allocation is directly tied to strategic objectives and public service delivery, added Mr Syed. Efficiency in action The ruling will lead to more effective and efficient use of land, according to another expert. "By aligning with the Dubai 2040 Urban Master Plan, this could enhance urban development and planning, thus reducing waste and mismatches in land use," said Mario Volpi, head of brokerage at Novvi Properties. "Overall, this law appears to be a strategic move towards modernising land governance in Dubai, aimed at enhancing operations and aligning with the long-term urban development goals. It's another change in the way Dubai does things that is aimed at improving efficiency and making Dubai the destination of choice for visitors and residents alike."
The National
22-04-2025
- The National
Dubai inflation eases in March on lower transport and food costs
Dubai inflation slowed to 2.8 per cent on an annual basis in March, down from 3.15 per cent in February and 3.2 per cent in January, on the back of lower transport and food and beverage costs. The annual price growth was the slowest recorded by the emirate since October last year, according to the latest data from Dubai Statistics Centre. Transport costs for March fell 3.34 per cent year-on-year and food and beverage costs slid 0.31 per cent. Information and communication as well as clothing and footwear prices also fell during the month. However, housing, utilities and fuels, which account for the biggest part of the consumer price index at more than 40 per cent, rose 7.16 per cent yearly in March, when compared to 7.36 per cent each in February and March. This was because of the rise in housing prices, as apartments and villa rents continued to rise in Dubai, according to Emirates NBD. In the first quarter of this year, Dubai apartment rents were up by about 8 per cent on an annual basis while villas and townhouses were up by about 20 per cent, the lender said in a note on Monday. The costs of education, restaurants and accommodation services, personal care, social protection and miscellaneous good and services also increased during the month. 'Prices were 0.1 per cent lower compared with February, marking the first monthly deflation since July 2024,' Daniel Richards, senior economist at Emirates NBD, said. He added that inflation over the first quarter averaged 3 per cent year-on-year, 'slightly more than our 2025 forecast of 2.8 per cent, but we expect that price growth will be more modest through the remainder of the year than we have seen in first quarter'. Emirates NBD said it projects softer headline inflation in the coming months "largely on the back of lower global oil prices, which have already come down sharply in April". "This will be reflected in prices at the pump and in the transport component of the basket, which accounts for just over 9 per cent of the total," Mr Richards said. The latest data comes as Dubai's economy continues to grow on diversification efforts. The emirate's economy grew by 3.1 per cent in the first nine months of last year, compared to the same period in 2023, reaching Dh339.4 billion ($92.4 billion), with growth largely driven by strides in several sectors, according to a report in February by state news agency Wam. The wholesale and retail trade sector reached Dh83 billion in the first three quarters of last year, a growth rate of 2.9 per cent. The transport and storage sector grew by 5.3 per cent to reach Dh42 billion, while the financial and insurance activities sector increased by 4.5 per cent to reach Dh39.4 billion.
Khaleej Times
21-04-2025
- Khaleej Times
Dubai inflation cools on softer transport and food costs
Softer transport and food costs resulted in the cooling of Dubai's consumers price index last month, data showed on Monday. According to Emirates NBD Research, headline CPI inflation in Dubai slowed to 2.8 per cent year on year in March, down from 3.2 per cent over the previous two months and the slowest pace of annual price growth since October last year. Prices were 0.1 per cent lower compared with February, marking the first monthly deflation since July 2024. Inflation over the first quarter averaged 3.0 per cent year on year, which was slightly lower that Emirates NBD's own forecast of 2.8 per cent. Emirates NBD expects price growth to be more modest through the remainder of the year than what was seen in Q1. 'Our expectation of softer headline inflation in the coming months is largely on the back of lower global oil prices, which have already come down sharply in April. This will be reflected in prices at the pump and in the transport component of the basket, which accounts for just over nine per cent of the total,' Daniel Richards, Senior Economist, Emirates NBD Research, wrote in a note. Transport has already been a key factor in keeping headline inflation down over recent months, and in March it was down 3.3 per cent year on year, reflecting the fact that a litre of super 98 in March 2025 cost 9.9 per cent less than it did in March 2024. 'In April, the same amount of petrol costs 18.4 per cent less than a year earlier, meaning the drag from transport will be even sharper in the next inflation print and through the rest of the year,' Richards wrote. Emirates NBD forecasts Brent crude to average of $68 per barrel this year, down from $80 in 2024. Housing impact The key driver of upwards inflation in Dubai remains housing and utilities, the largest component of the basket at 40.7 per cent and the component which is seeing the fastest price growth. In March, it was up 7.2 per cent year on year, down moderately from the near decade-high pace of 7.4 per cent the previous month but still quite sharply inflationary. 'This is reflective of ongoing price rises in the housing sector, with little change in utilities costs. While there is some suggestion of a stabilisation in the Dubai property sector, with price growth no longer accelerating, rents for apartments were still up by around 8 per cent year on year in Q1 while villas and townhouses were up by around 20 per cent,' Richards wrote. The rest of the basket continues to see either soft price growth or outright deflation, Emirates NBD noted. The second largest component after housing is food and beverages, and prices were down 0.3 per cent year on year in March despite the holy month of Ramadan largely falling in this period. This marked the third month in a row of deflation for food prices. Restaurants and accommodation meanwhile softened to 0.3 per cent, down from 0.7 per cent year on year in February, and clothing and footwear prices were down 2.7 per cent year on year for the second month running. Respondents to the S&P Global PMI survey for Dubai did raise their output prices in March but only marginally as the market remains highly competitive.
