The population size of the Emirate of Dubai was estimated to be 1,770,978 individuals at the end of 2009, of whom 1,369,740 are males and 401,238 are females with rates of 77.34% and 22.65% respectively of the total population. The higher proportion of males in Dubai community (341 Males per 100 females) is attributed to the fact that most expatriate workers are males who are not accompanied by their family members.
About a decade after in 2019, the young and growing city of the future has more than doubled its population with a total of 3,355,900 comprising 1,024,100 females and 2,331,800 males.
How does this population growth impact the real estate market?
The director and partner of Danube Properties, Atif Rahman noted that for the past 15 years there has been an ongoing argument about oversupply in the Dubai property market, but more than half of Dubai was built over this period and the supply has been consumed. According to a research conducted by Dr Fayez Elessawy of UAE University, Dubai has one of the highest annual jumps in population with a 6.5% growth rate from 2005 to 2015 when it reached 2.1 million.
As the population grows, automatically, the new supplies of properties from developers will be consumed because there can be oversupply in any market but there will never be an oversupply of good property.
Consequently, Dubai’s government has shown its readiness with the 50-Year Charter with nine articles that aim at shaping the future of Dubai, develop its community, enhance its quality of life and ensure a good future for the increasing generations.