Dubai luxury property in ‘short supply’ with greater demand for high-end real estate
Luxury properties in Dubai are in “short supply” with a greater demand for high-end real estate and better-quality properties, according to a property development firm. One of the driving forces behind the demand for the so-called luxury properties is an influx of Russians coming into the UAE. This was a more recent influx similar to the Arab Spring several years ago where it had led to an influx with a lot of “high net worth” people moving to the country.
Dubai property investments have always favoured patience
A sizeable gap is starting to open up between property prices in Dubai sold offplan and those homes bought in the secondary market, creating more opportunities for buyers. On average, recent offplan launches in Dubai carry price tags that are anywhere between 14-30 per cent higher than comparable ready units – and that’s quite a difference and which could further widen.
Atlantis The Royal Residences penthouse sells for $44.4m as prime Dubai property booms
The largest penthouse at Atlantis The Royal Residences on The Palm Jumeirah in Dubai has sold for Dh163 million ($44.4m) in what is one of the highest-valued property sales of the year so far in the city. The sale comes as Dubai’s prime property market soars on the back of the wider economic recovery in the UAE from the coronavirus-induced slowdown.
Dubai: Is Indian billionaire Mukesh Ambani mystery buyer of $80mln beachside villa?
Indian industrialist and one of the country’s richest persons, Mukesh Ambani, is reported to be the buyer of an $80 million beachside villa in Dubai, according to media reports on Friday. The Ambanis own the 27-storeyed Antilla in south Mumbai, which is the base for the family. But the industrialist and family members have been acquiring prime properties across the globe, including the US and the UK.
In UAE’s interiors market, decorative wraps turn into trending business
In Dubai’s property market, glossy seems to be on the way out in interiors. And more likely to be replaced with decorative wraps. More landlords, end-users and tenants are choosing wraps for renovating the interiors, And more businesses are getting into this space, with Danube’s interiors division being the latest.