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According to recent data, global high-net-worth individuals are expected to inject $4.4 billion into Dubai's property market this year, marking a staggering 76% increase from last year. This surge in investment has driven sustained price increases in Dubai, making the city a hotspot for global tycoons and international investors alike.

Knight Frank's report highlights that high-net-worth residents from the Gulf Cooperation Council (GCC) region spend an average of $3.1 million on properties in Dubai, while the global average budget for high-net-worth individuals reaches up to $36.5 million. These figures underscore Dubai's strong allure and high-end demand in the luxury housing market.

Faisal Durrani, Partner and Head of Middle East Research at Knight Frank, noted that Dubai's real estate market remains highly sought after, particularly as personal wealth grows and interest in Dubai properties continues to rise. Surveys indicate that 28% of high-net-worth individuals with net assets between $2 million and $5 million express significant interest in Dubai investments, a figure that rises to 70% among those with assets exceeding $15 million.

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Popular areas for property purchases in Dubai include Dubai Marina, Downtown Dubai, Business Bay, Dubai South/Expo City, Dubai Canal, Dubai Hills Estate, Palm Jumeirah, and Jumeirah Bay Island. These locations boast prime geographical advantages, convenient living amenities, and appeal due to their luxurious lifestyle offerings and investment returns.

Ultra-high-net-worth individuals purchase Dubai properties for diverse reasons, including investment diversification, capital appreciation, second residences, vacation homes, or rental income, all contributing to their portfolio diversification strategies. Additionally, several measures by the UAE government, such as residency permits for retirees and remote workers, along with the extended 10-year Golden Visa program, further promote market prosperity and economic diversification.

Last year, Dubai's luxury property market set new sales records, with sales of properties valued above $10 million nearly doubling to $7.6 billion, surpassing figures from London and New York. Knight Frank's report also notes a 26% increase in prices for properties above $10 million, making it one of the fastest-growing markets globally, driven largely by strong demand from overseas buyers for Dubai's luxury residences.

With continued market demand growth, Dubai's property developers are continually launching new projects. For instance, Emaar Properties, Dubai's largest listed developer, recently announced a $15 billion project, The Heights Country Club & Wellness, near Al Maktoum International Airport. This development will offer townhouses and semi-detached villas with modern facilities including health centers, parks, ponds, and green spaces, catering to the lifestyle needs of discerning clients.