Dubai Weekly Property News Round Up – 20.05.23

Dubai Weekly Property News Round Up – 20.05.23

Hello,

I trust your week has been wonderful. This year has gotten off to a fantastic start for us, as we’ve been privileged to add a diverse range of exceptional new developments to our portfolio.

Indeed, diversity is what makes life interesting. So, whether your preference leans towards a secure and relaxed home for families, a centrally-located city apartment for busy professionals, or a short-term rental perfect for vacationers, we invite you to share your investment preferences with us.

Let us know how we can meet your investment goals today.

Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.

Episode 61: Where Should You Be Investing Right Now?

– The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

Remember, you can also listen to this week’s newsletter on the podcast as well.

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Property Headlines This Week

  • Growth in High-End Property Demand to Reach 13.5% in 2023 – The demand for luxury residential properties in Dubai is expected to rise by 13.5% in 2023, making it the fastest-growing luxury residential market globally. This increase has been attributed to positive economic growth and a surge in interest from foreign investors. A total of 638 sales transactions worth AED 1.79bn were reported on May 15th. The city’s real estate transactions hit $7.2bn in April, a 46% increase compared to the previous year and the highest volume in a decade. High net-worth individuals investing in this sector are advised to use safe money transfer services when purchasing a property.

 

  • Global Investors Continue to Provide a Boost to the UAE Economy – The UAE economy is gaining momentum with increased global investments, particularly in Dubai, according to Kashif Ansari, Co-founder and Group CEO of Juwai IQI. Investments span property, startups, private equity, and gold, with a significant influx of capital from India. Abu Dhabi is emerging as a major finance source, receiving billions of dollars across sectors, and enhancing the UAE’s status as a financial capital for India. Ansari projects UAE’s GDP growth to range between 3.5% and 4.5% in 2023.

 

  • Major International 2026 Event to be Hosted in Dubai – Dubai has been selected to host the International Trademark Association (Inta) Annual Meeting in 2026, a first for the Middle East. The event, attended by over 8,000 intellectual property professionals, facilitates discussions on issues related to intellectual property rights. The bid’s success was the result of a collaboration between various local and federal entities. This achievement is seen as a testament to UAE’s commitment to intellectual property rights protection and its efforts to foster a thriving business and investment environment.


That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected]  – if not, see you next week.

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