The happening city of the UAE is turning heads with its massive growth and inflow of investors. Just in 2022, Dubai has shown impressive growth in the sectors of the real estate and commercial property market. The UAE is a growing market for properties and residences, and Dubai is showing rapid success in attracting HNWIs and foreign investors. 

In addition to its major success in commercial properties, Dubai is growing as a potential location for the highest concentration of branded residences. Compared to the market in the EMEA region, Dubai has the most schemes in its pipeline with the expectant growth of almost 72 percent by 2023 as per Savills reports. 

Reports from Savills

“Our residential development consultancy team tracks the global branded residential space supporting developers and brands alike, and we have found no other market quite like Dubai. The emirate catapulted to the forefront of the branded residential sector in the decade following 2010,” reported Mr. Rico Picenoni, the Director of Global Residential Development of Savills. He also said, “Over the forecast period, Dubai is expected to demonstrate growth that will make it roughly 30 percent more active than the second most active market globally, South Florida. This global city has demonstrated more than 16 percent compound annual growth over the last 20 years whilst the other, high-profile markets have each demonstrated no more than 5 percent compound annual growth, which is remarkable.”

While Dubai is acing in the rise of property deals as per ranking, London is closely following with the amazing schemes in its immediate timeline. 

Mr. Rico Picenoni also added, “Branded residences, as a segment of the EMEA residential property sector, are predicted to continue their extraordinary growth. Rising numbers of wealthy individuals globally will likely create a new source market of aspirational HNWIs looking for secondary or primary homes.”

Non-Hotel brands that are leading by completed schemes

HMWI growth

Apart from foreign investors, Dubai brings in a lot of HNWIs every year. The property market rise is staggering and Dubai is becoming the most opted residential area for reasons like Golden visa facilities and safety factors. Across the EMEA regions, the rise of HNWIs has been recorded to be above 27 percent which is expected to grow exponentially in the next five years, generating a rise in demand for branded residencies. 

Dubai’s lavish residential sector has proved to be resilient and adaptable, unchanging even in the face of adversities and market conditions. This makes it a highly attractive place as a long-term investment. Apart from this, Dubai’s tourist growth makes it one of the leading countries of the world, attracting people from across the globe to invest or settle in the country. The added visa facilities just amp up the growth factor. UAE is one of the leading countries in the world when it comes to the real estate and property market. If you are looking for property deals and the latest UAE real estate information, contact RGEstate today!

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