REAL ESTATE
According to industry experts, Dubai's real estate sector has benefited from the city's strategic location, state-of-the-art infrastructure, and investor-friendly policies, which have attracted a diverse pool of buyers from around the world. "Dubai's real estate market has proven to be a safe haven for investors, particularly during times of global economic uncertainty," said Faisal Durrani, head of Middle East research at Knight Frank. "The city's commitment to innovation, sustainability, and creating a high quality of life has made it an attractive destination for both residential and commercial investment." The off-plan property market in Dubai has continued to thrive, with developers obliged to meet strict criteria before launching new projects, ensuring increased trustworthiness and protection for investors. This has contributed to the overall confidence in the market, with off-plan sales accounting for 63% of total transactions in the first quarter of 2024. Furthermore, Dubai's real estate developments are renowned for their high-quality construction, luxurious amenities, and innovative design, setting a global benchmark for architectural excellence and quality living. The city's embrace of cutting-edge technologies, such as virtual reality tours and AI-driven property management systems, has also helped to enhance the overall real estate experience for both buyers and investors. Despite the global economic headwinds, Dubai's real estate market remains a key driver of the city's economic growth, accounting for 8.9% of its GDP. As the emirate continues to diversify its economy and focus on sustainable development, the real estate sector is poised to play an increasingly important role in shaping the city's future.
