• Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
Sunday, May 28, 2023
Daily The Business
  • Login
  • Home
  • World
  • Economy
  • Opinion
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
Subscribe
DTB
  • Home
  • World
  • Economy
  • Opinion
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
DTB
Home business

Dubai’s ultra-luxury properties continue to attract HNWIs and foreign investors

by DTB
March 23, 2023
in business, Real Estate, Top News
Reading Time: 2 mins read
129 4
A A
0
38
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
  • Three of the world’s most expensive properties sold in 2022 were located in Dubai
  • Palm Jumeirah accounted for 30 per cent of the total real estate transactions in the luxury market segment
  • The highest deals for luxury apartments were closed in Bulgari Lighthouse, Aire Dubai, and One Canal
  • The highest deals for luxury apartments were closed in Palm Jumeirah, Tilal Al Ghaf, and Emirates Living

Dubai (March 23, 2023)

The Dubai property market continues to attract HNWIs and foreign investors with its ultra-luxury properties. Three of the world’s most expensive properties sold in 2022 were located in Dubai, according to the Zoom Property Insights.

The Insights data further revealed that all three villas were located in Palm Jumeirah, which continues to be the preferred choice of ultra-rich investors and HNWIs in Dubai. It accounted for 30 per cent of the total real estate transactions in the luxury market segment (AED 20 million and above) in 2022.

Besides Palm Jumeirah, Jumeirah Beach Residence and Emirates Hills are other notable areas for ultra-luxury properties in Dubai. Tilal Al Ghaf has also emerged as one of the most demanded communities in Dubai this year for prime properties.

Ata Shobeiry, CEO of Zoom Property, is of the view that the prices of ultra-luxury property will increase further in 2023.

He said, “Supported by the rising demand from HNWIs, end-users, and foreign investors, the prime property sector, and the Dubai property market, on the whole, continues to cruise. The emirate’s economic growth is also contributing to the success of its real estate as it presents itself as a safe option for investors.”

Most expensive properties sold in 2023

Apartments

According to the Zoom Property Insights, the highest deal for luxury apartments was closed in Bulgari Lighthouse, Dubai, Island 2 for AED 410 million. The development recorded another transaction for a luxury apartment costing AED 119 million.

It was followed by Aire Dubai, Al Wasl (AED 119 million), One Canal, Dubai Water Canal (AED 73 million), and Aire Dubai, Al Wasl (AED 62 million).

Villas

The iconic destination Palm Jumeirah has recorded two transactions for luxury villas valuing AED 125 million and AED 183 million to date. Other areas where luxury properties were sold include Tilal Al Ghaf (AED 90.1 million), and Emirates Living (AED 70 million and AED 45 million).

“The tight supply and shortage of residential units in the luxury segment may slow things down, and there could be a reduced number of transactions,” Shobeiry concluded.

Tags: Dubai’s ultra-luxury propertiesZoom Property
DTB

DTB

American Dollar Exchange Rate
  • Trending
  • Comments
  • Latest
How to avoid buyer’s remorse when raising venture capital

How to avoid buyer’s remorse when raising venture capital

July 2, 2022
Dubai's real estate sector

Dubai: Villa prices post double-digit growth in August 2021

October 23, 2021
9th World Strength Lifting & Incline Bench Press Championship 2022

9th World Strength Lifting & Incline Bench Press Championship 2022 Kyrgyzstan

September 10, 2022
real estate transactions in Dubai

AED7.2 bn in week-long real estate transactions in Dubai

October 23, 2021
Afghanistan remittance payouts limited to local currency -sources

Afghanistan remittance payouts limited to local currency -sources

0
Saudi Arabia Bans Ministers From Sitting on Company Boards

Saudi Arabia Bans Ministers From Sitting on Company Boards

0
SAIF Zone takes part in The Big 5

SAIF Zone takes part in The Big 5

0
Jafza to showcase its core competencies

Jafza to showcase its core competencies in the construction and building materials sector at The Big 5 2021

0
A Vancouver bakery owner said caught a thief breaking in on video — he swept the floor, took some selfies, and left with 6 cupcakes

A Vancouver bakery owner said caught a thief breaking in on video — he swept the floor, took some selfies, and left with 6 cupcakes

May 28, 2023
I flew from Dubai to London in economy class on an Emirates A380. The service was exceptional, but the colossal plane felt outdated.

I flew from Dubai to London in economy class on an Emirates A380. The service was exceptional, but the colossal plane felt outdated.

May 28, 2023
Why a millennial with $134,000 in student debt hasn't made payments while living abroad for nearly a decade

Why a millennial with $134,000 in student debt hasn’t made payments while living abroad for nearly a decade

May 28, 2023
Russia's being more cautious with its tanks and trying to hide them after heavy losses in battle, but it's shooting itself in the foot

Russia’s being more cautious with its tanks and trying to hide them after heavy losses in battle, but it’s shooting itself in the foot

May 28, 2023
  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
Write us: info@dailythebusiness.com

© 2021 Daily The Business

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Daily The Business
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • Economy
  • Opinion
  • Markets
  • Tech
  • Real Estate

© 2021 Daily The Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In