Dubai has emerged as not only a popular travel destination but also as a leading investment hub. Recently, it also saw the grand opening of Atlantis The Royal, an iconic landmark in the city.
Such kinds of projects, according to real estate experts, have drawn interest from high-net-worth individuals from around the world. Similarly, property prices on the Palm have grown by a whopping 100%, with some investors selling their properties at double the price.
Lewis Allsopp, CEO of Allsopp & Allsopp, a property firm, confirmed that few investors have doubled their investments, which is mainly driven by the openings of many luxury projects. Each year Dubai launches new projects, rejuvenating international interest in its property market.
Similarly, last year, it launched The Palm, which attracted rich individuals. According to the CEO of Unique Properties, Arash Jalili, The Palm Jumeirah was dubbed as the most preferred location among property tycoons in 2022, with villa prices increasing by 50%.
Speaking about a massive real estate deal, Arash said that his firm recently brokered a deal worth AED 130 million for one of the beachfront homes in The Palm Jumeirah. It was purchased by an international buyer, he added.