The United Arab Emirates’ real estate industry has become an important global player over the past decade. In 2023, the brand value of EMAAR, a real estate development company based in Dubai increased by nearly 30 percent. EMAAR was one of the two non-Chinese companies among the 10 most valuable real estate companies worldwide based on brand value.
The Abu Dhabi Investment Authority (ADIA), a real estate investor from the United Arab Emirates, is a leading global investor in the industry with assets worth over 43.4 billion U.S. dollars.
The global COVID-19 pandemic has affected the luxury real estate market of Dubai immensely. The luxury real estate prices were forecast to decrease by two percent in Dubai.
Real estate in Dubai
The real estate industry in the emirate of Dubai accounts for 8.2 percent of its gross domestic product. It is also a leading employment sector for its foreign workforce. With its focus on becoming a high-end tourism destination, the emirate of Dubai has become attractive for real estate investors. The majority of urban buildings in the emirate are investment villas at almost 72 thousand, followed by private villas at around 40.6 thousand buildings.The global COVID-19 pandemic has affected the luxury real estate market of Dubai immensely. The luxury real estate prices were forecast to decrease by two percent in Dubai.
