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Louis Harding, Managing Director of Betterhomes, attributes the rapid growth of Dubai's luxury real estate market to the government's proactive measures during the pandemic. These measures included introducing residency permits for retirees and remote workers and expanding the 10-year golden visa program, significantly enhancing Dubai's appeal as a global destination for living and working. With the population continuing to grow and demand steadily rising, Dubai's real estate market is expected to maintain its stable growth trajectory.

The report also highlights that the most expensive residential sale in Dubai this year was a Ritz-Carlton apartment in Dubai Healthcare City, sold for 165.6 million AED. Following this were the sales of Bulgari Lighthouse in Jumeirah Bay by Meraas for 140.5 million AED and Fendi Casa Canal in Dubai Canal by AHS Properties for 140 million AED. These transactions not only underscore the vibrancy of Dubai's high-end real estate market but also reflect the ongoing demand for luxury residences and market stability.

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Emaar Properties, one of the main developers in Dubai's real estate market, has not only created iconic landmarks such as the Burj Khalifa and Dubai Mall but also continues to develop renowned projects like Dubai Marina and Emirates Hills. Dubai Marina is famous for its stunning waterfront views and luxury residences, attracting numerous residents and tourists; Emirates Hills, known for its gated community and high-end villas, offers a luxurious and refined living experience. These projects showcase Emaar Properties' commitment to creating exceptional living experiences and setting new standards for Dubai's real estate market.

According to Knight Frank's analysis, interest from international buyers in Dubai's luxury properties remains high, with prices in the luxury market rising by 26% last year, one of the fastest increases globally. Wealthy individuals are increasingly looking to diversify their assets and seek safe havens, making Dubai a preferred destination due to its stable political environment and high-return real estate investment opportunities.

The "Global Wealth Report 2024" by Henley & Partners highlights Dubai as one of the cities in the Middle East with the highest concentration of millionaires, currently home to over 72,000 millionaires with a combined wealth of more than 3.7 trillion AED. By the end of 2024, Dubai is expected to attract even more wealthy individuals and investors, further driving the growth of the luxury real estate market.