Dubai has cemented its status as a global real estate hub, characterized by high investment returns and a secure environment, Invest-Gate reports.

According to W Capital Real Estate Brokerage, these factors have become increasingly significant amid global geopolitical tensions and economic uncertainty.

The brokerage’s report highlights that Dubai’s real estate sector has sustained growth and record sales over recent years, fueled by unprecedented demand. This trend has made Dubai a preferred destination for wealthy investors worldwide, evident in the surge in luxury real estate sales.

For his part, Walid Al Zarooni, CEO of W Capital, noted, “The real estate market in Dubai has taken an upward trajectory that exceeded all expectations since recovering from the COVID-19 pandemic.”

Moreover, Al Zarooni cited data from the Dubai Land Department (DLD) showing that sales exceeded AED 1.16 tn over 55 months, from January 2020 to July 2024. Sales figures rose from AED 69.8 bn in 2020 to AED 149 bn in 2021, AED 265.5 bn in 2022, and AED 401 bn in 2023, reaching AED 283 bn in the first seven months of 2024.

Furthermore, Al Zarooni also pointed out that W Capital’s previous report identified strong demand from various nationalities, including Indians, Chinese, Lebanese, Canadians, French, Italians, Dutch, Pakistanis, and Turks. The list includes Egyptians, Americans, Saudis, Russians, and Iranians.

The report noted a 30.3% increase in real estate sales from January to July 2024, reaching AED 283.11 bn, compared to AED 217.2 bn in the same period in 2023. Notably, this growth underscores Dubai’s appeal as a stable and lucrative investment destination in a volatile global landscape.