Complex Made Simple

Dubai one of top 10 markets in the world for luxury properties

Sales reached nearly AED78 billion, mortgages reached AED94bn, while other deals exceeded AED14bn

Dubai managed to secure a place among the top ten markets for luxury properties in the world, along with Hong Kong, Los Angeles, Miami, and New York.

Accordingly, the real estate adviser Ismail Al Hammadi says: “While witnessing a very active building trend, Dubai was keen to build the most luxurious properties, which is embodied in real estate statistics and studies.”

The real estate market in Dubai witnessed deals valued at AED186 billion through 33,907 deals in the first nine months of 2015, says Al Hammadi. The deals included sale and mortgage deals and some other real estate activities. He added that the share of sales reached nearly AED78 billion, mortgages reached AED94bn, while other deals exceeded AED14bn.

The real estate adviser adds: “You can infer the strength of Dubai’s real estate through the statistics and numbers, but what we are looking for is to deepen the mechanisms of public relations work, in order to move to the next level.”

It is noteworthy that 75 per cent of owners of luxury properties in Dubai are foreigners.