Demand for Luxury Properties Soars in Dubai

Dubai is witnessing the construction of an increasing number of real estate projects to meet the growing demand, especially for luxury real estate, according to the American website “Mansion Global.”

The real estate market in Dubai will continue its continuous growth for more than two years, which was reflected in the launch of more real estate projects in the emirate.

The report cited the data contained in the “Savills index of luxury housing in the world’s cities,” issued by the British “Savills,” which reported that Dubai topped all the world’s cities in the growth of luxury house prices in the first half of this year by 11.2%.

“The real estate market in Dubai witnessed 60,440 transactions during the mentioned period, with a total value of 177.3 billion dirhams and 48.27 million dollars,” according to data from the Dubai Land Department.

The report pointed out that residential projects that are still being implemented “on the map” in particular are enjoying the highest popularity among buyers and real estate investors in Dubai at the moment.

Dubai continues to establish itself as the world’s number one destination for real estate investors, both in residential and commercial real estate.

The report highlighted the most prominent luxury real estate projects that Dubai has recently witnessed, including “the Oasis” on Jebel Ali Road and “Rixos Dubai Islands Residences.”