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Count Dubai It is an important commercial and economic center in the Middle East, making it a haven for investors looking for special investment opportunities in the market. Real estate; Either for residential purposes or commercial ownership, at a time when the state is available UAE An environment conducive to growth and investment thanks to its advanced infrastructure and variety of real estate projects.
The UAE has a unique advantage that combines… Real estate markets Competitive and advanced, in addition to a stimulating legal and legislative environment Investments. Dubai features a range of real estate options such as luxury residential towers, distinctive residential complexes and international commercial centers that provide an ideal environment for international companies to operate. Therefore it is considered Real estate sector It has one of the vital economic tools that contribute to strengthening the country’s position on the map Global investments.
In addition, Dubai is attracting real estate investment thanks to government policies that support foreign ownership in some real estate projects, which increases the attractiveness of the sector.
The UAE real estate market is witnessing a growing interest in real estate investment as a safe haven for wealth preservation and development. In addition, the UAE offers promising opportunities for investors in projects related to tourism, entertainment and infrastructure, making the real estate sector a major driver of the local economy and reflecting sustainable growth in the future.
The company’s estimates indicate Knight Frankto a higher rise in housing prices in Dubai The next year is 2025, after already growing by 20 percent in the current year 2024, which is an extension of the ongoing recovery started after the pandemic.
According to the company’s estimates, the value of residential real estate will increase by 8 percent next year, while luxury real estate will increase by an average of five percent.
Rising prices in Dubai have already created many millionaires. The report estimates that at least 95,000 of the 530,000 homes sold in Dubai since 2002 are now worth more than $1 million.
Speaking exclusively to Sky News Arabia, Knight Frank’s head of Middle East research, Faisal Durrani, said: “These days a million dollar house is actually the average price of a family home, which highlights how much… Values have increased over the past four and per year.”
According to Durrani, Dubai has witnessed dramatic boom and bust cycles in the past, but analysts see less risk this time because of rules that have increased down payments and because most buyers are end users. “The drivers are very different in this cycle and we are not seeing speculative activity.” “There is nothing in the data to indicate that we are approaching a critical moment,” he said.
Durrani added: “The biggest driver of the market is the lack of housing to accommodate the influx of people moving into the city. .”
For his part, partner and head of the Middle East Research Department at Knight Frank, Faisal Durrani, confirmed in exclusive statements to “Ski News Arabia” that the real estate market in Dubai has witnessed continuous expansion and price growth over the past year. by 20 percent during the last year, as a result of several basic factors.
He added: The increase in prices is due to the increase in the number of people coming to live in Dubai, as well as the desire of many individuals to buy properties, at a time when the quantities offered were insufficient to meet this increasing demand. , which led to an increase in prices in the offered units.
Looking ahead, Durrani expects the real estate market to experience additional growth of approximately 8 percent in 2025, noting that prices in the luxury real estate sector could increase by 5 percent. While this increase may seem smaller compared to what we witnessed in 2020, prices for this type of property rose by 3 percent last year, which is mostly related to the type of buyers who focus on residential units, as a large number of newcomers came to stay in Dubai, which led to an increase in prices due to lack of available units.
He pointed out that the population of Dubai is expected to reach 5.9 million people by 2029, which requires an increase in the supply of housing units by 36 percent per year over the next six years.
For his part, the former Secretary General of the Emirates Council for Overseas Investors, Jamal bin Saif Al Jarwan, confirmed in exclusive statements to the “Ektisad Sky News Arabia” website that:
It forms a sector Real estate The UAE is a destination for wealthy people from all over the world, whether for life and residence, business or investment in this promising sector.
According to a report by global platform Statista, the real estate market in the Emirates is witnessing a boom in demand for luxury properties, due to the increasing number of high net worth individuals looking for investment opportunities. It is expected to achieve a CAGR of 3.03 percent between 2024 and 2028, leading to a market size of around $800 billion at that time.
Al Jarwan added that the UAE’s economy is experiencing unprecedented growth, with foreign investment in more than 90 countries, while inbound investment in the UAE is reaching historic figures. He also praised the rapid modernization of laws and legislation in the country, which sends positive messages to the world, welcoming investors from all over the world to benefit from the diverse investment opportunities offered by the UAE.
The former Secretary General of the Emirates Council for Overseas Investors confirmed that the UAE is experiencing strong growth in a wide range of sectors, including real estate, transport, ports, green economy, agricultural security, technology, artificial intelligence, tourism, renewable energy, aviation, services and industry and finance. technology, space, in addition to supporting the sector entrepreneurship.
In this context, the CEO of Truth Economic and Administrative Consulting, Reda Muslim, explained in exclusive statements to the website “Ektisad Sky News Arabia” that:
He added that the UAE has become a favorite destination for wealthy people from all over the world. Due to the variety of options offered by the real estate market, including palaces and villas that cater to different tastes. He explained that this diversity has led to an increase in demand for real estate in the Emirates on a global level.
Muslim also emphasized that to gauge the strength of demand in the real estate market, it is necessary to track price movements over a period of at least three years, indicating that the market is currently witnessing strong demand that reflects investor confidence in the UAE real estate sector.