September 2024 | Report Format: Electronic (PDF)
UAE Property And Community Management Market Growth & Trends
The UAE property and community management market size is anticipated to reach USD 7.68 billion by 2030, registering a CAGR of 12.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The integration of IoT technology with property management for asset maintenance is expected to drive the growth of the market in the UAE.
In addition, property management market in the UAE is dynamic and plays a crucial role in maintaining and enhancing the value of real estate assets in the country. With a robust regulatory framework and a strong emphasis on quality and professionalism, property management in the UAE ensures efficient operations and sustainability of real estate properties.
Furthermore, the financial health and operational efficiency of property management in the UAE rely heavily on robust lease management practices. Regular and systematic rent collection, timely lease renewals, and transparent management of service charges are crucial components ensuring a steady revenue stream for property owners. This proactive approach not only enhances the value and appeal of properties but also ensures their competitiveness in the market, attracting both high-quality tenants and investors seeking a stable return on investment.
Moreover, by adhering to legal standards and maintaining transparency, lease management supports the sustainable growth of the property & community management market, reinforcing the country’s position as a secure and attractive destination for real estate investment. The lease management approach ensures legal compliance and enhances market integrity and investor trust, driving further growth and development in the UAE market for property and community management.
Additionally, the UAE government’s ambitious urban development plans, such as the Dubai 2040 Urban Master Plan and Abu Dhabi’s Vision 2030, are fueling the construction of new residential, commercial, and mixed-use projects. These large-scale developments necessitate professional community management to ensure their sustainability and appeal
Manufacturers of UAE property & community management are adopting several strategies, such as acquisitions, mergers, joint ventures, new product launches, and geographical expansion, to enhance market penetration and cater to changing technological demands from various end-use applications, including residential, commercial, and industrial applications.
For instance, in June 2023, the Dubai Real Estate Regulatory Agency (RERA) introduced new guidelines concerning the management of buildings’ reserve funds. Owing to these guidelines, not only do bank approvals need to be obtained for the disbursement of these funds, but the involvement of a third-party consultant is also necessary to verify that the payments made align with the quotes provided by the Owners Association Management (OAM) firm.
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UAE Property And Community Management Market Report
UAE Property And Community Management Market Report Highlights
- The property management service segment held the largest revenue share in 2023. With a significant rise in new buildings, there will be a corresponding rise in demand for property management services. These new properties will require professional management for leasing, tenant management, and overall maintenance. This translates to growth opportunities for property management companies in the UAE.
- The community management by property type segment is expected to showcase lucrative growth over the forecast period. They manage common areas, amenities, and shared facilities to enhance residents’ quality of life and uphold property values in freehold residential communities.
- The residential segment held the largest revenue share in 2023. One notable trend in residential property management is the growing popularity of integrated community living developments. Within a self-contained neighborhood setting, these master-planned communities offer a comprehensive range of amenities and services, including schools, parks, retail outlets, and recreational facilities.
- Dubai dominatedthe UAE property and community management market. The Dubai market has the increasing influx of expatriates and international investors, drawn by Dubai’s status as a global business hub and its favorable tax policies. This has led to a surge in the demand for residential & office properties, necessitating efficient property and community management services to maintain high living standards and operational efficiency.
- In March 2023, Imdaad became a part of the robust network of IAAPA members within the UAE. This international association represents more than 115 entities in the region, encompassing over 80 attractions, such as the Burj Khalifa, as well as significant theme parks, waterparks, and entertainment venues. This collaboration was expected to strengthen the company’s position as a property and community management service provider.
UAE Property And Community Management Market Segmentation
Grand View Research has segmented the UAE property and community management market based on service, property type, and region:
UAE Property And Community Management Service Outlook (Revenue, USD Million, 2018–2030)
- Property Management
- Lease Accounting & Real Estate Management
- Asset Management
- Project Management
- Security & Surveillance Management
- Support & Maintenance
- Rent Collection
- Tenant Management Services
- Others
- Community Management
- Governance & Compliance Management
- Service Charge Invoice and Collection
- Vendor and Contract Management
- Financial Management
- Legal Compliance
- Others
UAE Property And Community Management Property Type Outlook (Revenue, USD Million, 2018–2030)
- Property Management
- Freehold
- Residential
- Office/Workplaces
- Non-Freehold
- Residential
- Office/Workplaces
- Community Management
- Freehold
- Residential
- Office/Workplaces
- Non-Freehold
- Residential
- Office/Workplaces
UAE Property And Community Management Application Outlook (Revenue, USD Million, 2018–2030)
- Residential
- Office/Workplaces
UAE Property And Community Management Regional Outlook (Revenue, USD Million, 2018–2030)
- Dubai
- Abu Dhabi
List of Key Players in the UAE Property And Community Management Market
- DEYAAR
- Binayah Properties
- Land Sterling Property Consultants L.L.C.
- CCA For Vacation Home Rentals LLC
- Manage My Property
- Betterhomes LLC
- Kaizen Property Services
- Dacha Real Estate
- ADCP
- Bricklane Properties Management LLC
- BSO Real Estate Management
- Asteco Property Management LLC
- Imdaad LLC
