Let's fly to Dubai today.
Photo by fahrul-azmi on Unsplash, "Planes"
We invite you to join us on a wander around Dubai.
Dubai, the prestigious world capital luxury real estate and hotel complexes - one of the United Arab Emirates, which is on the coast of the Persian Gulf, historically known for the cultivation of pearls in the past...
It borders Abu Dhabi to the south, Sharjah to the northeast and Oman to the southeast.
The first written record of Dubai as a city comes from the 1095 "Book of Geography" written by Abu Abdullah al-Bakri. In the Middle Ages, it was a famous destination for pearl farming and a rich trading center.
In the 20s, when the world crisis hit, Dubai's pearl industry collapsed. Its economy began to expand again after the discovery of oil in 1971. In the same year, six other emirates joined Dubai to form the country called the United Arab Emirates (UAE). By 1975, the population had more than tripled, as the city employed a large number of foreign workers coming from different countries of the world for its development in industry and construction as well as tourism.
Photo by Studio da Vinci.
Dubai (Arabic دبي Dubai) is the largest city in the United Arab Emirates and the capital of the emirate of the same name, one of the seven that make up the country. About 2,1 million people live in it, which is nine tenths of the total population of the emirate.
Since the beginning of the 21st century, it has been famous as the scene of megalomaniacal construction projects, among which stand out, for example, the tallest skyscraper in the world, the Burj Khalifa, a super large airport Dubai World Central - Al Maktoum and some luxurious man-made islands off the coast (Palm Islands, Svet, etc.).
Photo by Christop Shulz on Unsplash "Dubai"
Now Dubai is one of the most visited tourist and business centers in the world. According to various indices of the cost of living for foreigners, it ranks among the 25 or even ten most expensive cities in the world. At the same time, according to a survey by the consulting firm Mercer, it is the city with the highest quality of living environment among all cities in the overall region Middle East/Africa.
Photo by Studio da Vinci.
Pricelist real estate have increased by as much as 12% in prime Dubai locations over the past 90 months.
The increase in the prices of luxury villas and apartments has been fueled by individuals from the so-called group of very wealthy individuals from around the world, called UHNWI (Ultra high-net-worth individual), who are flocking to the property market in this emirate.
Photo by Studio da Vinci.
The research was carried out by real estate consultancy Knight Frank.
»Prime property values in Dubai continue to strengthen, growing by 29% in the third quarter of this year alone."
The richest people in the world are increasingly choosing to invest in luxury real estate, but not as an investment, but for the reason that they will also live in this city of luxury and prestige.
This trend marks a significant departure from the emirate's previous two market cycles, where the dominant buyer taste was associated with buy-to-let or trade-in purchases,” said Faisal Durrani, Knight Frank partner and head of Middle East research.
In some locations, such as the Palm Jumeirah, prices have risen by more than 100% compared to the start of the pandemic. Sales of exceptional quality luxury villas, which refers to properties priced above $10 million, also reached new heights. So far this year, 152 luxury properties have been registered for sale, eclipsing the 93 real estate transactions of the most expensive properties in 2021.
Of those 152 deals, 93 occurred in the third quarter of 2022 alone.
Photo by Tabreez on Unsplash, "Pace e Luce Raffles The Palm Dubai – The Palm Jumeirah"
Most of the very wealthy international buyers are attracted to the glamorous and luxurious lifestyle of sun, sea and sand, entertainment, shopping and prestige of all kinds in Dubai.
Usually, the investment starts with the purchase of a luxury villa or apartment with a wonderful view. It is precisely in this segment of luxury real estate that demand continues to strengthen. The city just set a new record price with the sale of »82 million dollar houses on the island of Palm Jumeirah,” said Andrew Cummings, Knight Frank partner and head of prime residential.
As a modern city, Dubai boasts modern architecture of luxury office buildings and apartment complexes as well as luxury villas.
Photo by david rodrigo on Unsplash, “Dubai”
Living in this global mecca provides each individual with a truly exceptional selection of activities and opportunities for business engagement and networking.
Knight Frank expects demand to continue to increase, with property prices in Dubai expected to increase by a further 5-7% by the end of the year.
Approximately 10 km from the sea coast, you can buy a one-bedroom apartment for as little as 130.000 EUR, while luxury apartments in the very center of Dubai, with the most beautiful views, reach prices from 500.000 EUR upwards. To buy a new one luxury villas but it will be necessary to dig much deeper into the pocket. Prices here range from EUR 1 million and more.
No matter how the world turns, the sun shines almost every day of the year in Dubai.
Photo by Ryan Miglinczy on Unsplash, “Dubai at Night”
A rich selection of luxury real estate, hotels, the largest shopping center in the world and the tallest building in the world attract more tourists and investors every year. The vision and strategy of the development of the city of Dubai is aimed at new, even more glamorous and luxurious real estate and tourist projects, which we will write about in the following blogs, so we invite you to follow us further.
Photo by Clay Banks on Unsplash, “Burj Khalifa”
Our real estate company Studio da Vinci doo cooperates with the most prestigious real estate companies in the United Arab Emirates.
Therefore, you are cordially invited to contact us if you have been tempted to buy a luxury property in Dubai.
We will be happy to advise you on the purchase of real estate and guide you through the entire process of purchasing real estate.
And who rules Dubai?
Now it's time to relax and enjoy:
You can listen to the music that is being heard in Dubai bars this year:
How about this: "Habibi come to Dubai"?
and “One night in Dubai”?
Habibi
Habibi I love you
We can also look at the tallest skyscraper in the world:
And the spectacular, breathtaking Dubai Fountains:
We invite you to visit the 10 biggest attractions in Dubai:
We believe you would like to explore further:
Another pulse of Dubai day and night:
and finally... We invite you to the Dubai desert:
»Man goes to the desert with his demons and returns from it with his angels...«
And for curious exploration of the underwater world:
Now: »It spins from the height« – the view from the highest skyscraper in the world:
We have listed quite a few reasons for your first or second visit to Dubai.
Always welcome in our agency: Studio da Vinci Ltd.
