Real estate of 100 million dirhams
Waleed Al Zarouni
December 20, 2022
The demand for luxury real estate has increased in Dubai during the last two years, especially since the Corona pandemic, as the sale of residential units whose price exceeds 100 million dirhams has a positive impact and good marketing for the sector at the regional and global levels.
Dubai has become a destination for the wealthy of the world, where every day a deal is revealed that exceeds the value of previous deals, by more than 100 million dirhams, in a strong indicator that reflects the attractiveness of the real estate sector in front of wealthy owners and businessmen with high financial solvency, in light of the great confidence enjoyed by Real Estate. Emirate, and the business opportunities that this category intends to establish in Dubai.
Dubai is one of the most prominent cities for owning luxury real estate in the global market, and the highest internationally in terms of returns.
And just two months ago, it was revealed that India's second richest man (Mukesh Ambani) had purchased another beachside villa in Dubai, breaking his previous record for the city's most expensive residential property deal in a matter of months.
The deal was for a villa in the Palm Jumeirah area, at about $163 million (600 million dirhams).
In August, Ambani bought an $80 million (Dh294 million) beachfront villa in Dubai, the city's largest ever residential property deal.
The Palm Jumeirah alone, which is one of the 10 largest artificial islands in the world, witnessed 11 real estate sales transactions, each exceeding the 100 million dirham barrier, from the beginning of this year until the end of last September.
Dubai real estate is gaining increasing confidence in light of the attractive opportunities presented by the real estate sector, and still is, as luxury real estate sales are witnessing record levels.
The continuous rise in prices in the real estate market in Dubai reflects confidence in the future of the local economy, and the ability to continue the rise and achieve gains from investment.
The movement of the wealthy and major companies to buy a high-value property comes according to a vision determined by international consultants and a study of all the returns and gains that these deals can achieve. The purchase is not only for entertainment as much as it is a successful investment in the first place.
During the last year, the growth of luxury real estate prices exceeded nearly 100%, after it became a safe healthy haven during the Corona period and an economic haven amid economic suffering sweeping all countries.
Expectations indicate a continued good performance of real estate price growth in Dubai and the maintenance of unprecedented momentum, which helps to implement more deals for luxury real estate in general, or whose price exceeds 100 million dirhams.
"Dubai has become a destination for the world's wealthy, as every day a deal is revealed that exceeds the value of previous deals."
Chairman of the Board of Directors of “W Capital Real Estate Brokerage Company”
@WalidAlzarooni
walid.alzarooni@gmail.com
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