When buying a luxury apartment in Dubai or a branded real estate unit, the first instinct is to surround yourself with experts who have a true understanding of the real estate market.
Stéphane Maman, the head of Prestige Immobilier Dubai agency, accompanies you in your investment project in Dubai to offer you the finest offers in the capital's most beautiful neighborhoods: Palm Jumeirah, Deira, Downtown Dubai, Dubai Marina, and Business Bay.
If you are already an expatriate or if you are soon to settle in Dubai, you will be pleased to learn that the process of buying property in the emirate has become much easier and that Dubai's real estate market offers many advantages. So, what are the good reasons to become a property owner in Dubai?
Firstly, the real estate market is attractive in terms of prices. Dubai is a rapidly growing city where house and apartment prices are significantly lower than in major capitals such as New York, Paris, or Madrid. Dubai is one of the richest cities in the Middle East and one of the most economically dynamic.
Also, a large part of the city's real estate is new, and the facilities offered are often of high standard. In Dubai, it is not uncommon for apartments or houses to come with a pool or a gym.
Another significant advantage is that investing in real estate in Dubai allows you to obtain a residence visa valid for 3 to 10 years.
The residential market foresees an increase in real estate prices in different cities worldwide by 2025. Dubai, in the United Arab Emirates, is one of the cities experiencing the strongest growth, with real estate values rising by up to 13%, according to the latest economic and statistical data. The segment that will see the highest prices will be that of prime residential properties, the value of which has already increased by 50% in 2023.
This scenario is not strange, as Dubai has a very agile and dynamic real estate market that has allowed it to have constant demand from foreign investors. In 2023, 97,000 real estate transactions worth 67.38 billion euros were recorded. The demand lies in the housing market, where prices are expected to soon reach pre-pandemic levels.
Moreover, in terms of sales, the luxury market remains attractive in the Middle Eastern city, where the residential market sold an apartment for 50.8 million euros under Baccarat, a French company dedicated to manufacturing high-end glass products.
Construction is expected to reach the highest price per square meter, at 37,700 euros per square meter. It beats the record held by the five-bedroom apartment sold for 40 million dollars at 37,000 euros per square meter.
American company Binghatti will build the world's largest residential building. The project will be located in Business Bay, at the heart of Dubai's financial market. This "hyper-tower" will comprise 100 floors and 2- and 3-bedroom residences, as well as five penthouse apartments named after the luxury watch and jewelry brand Jacob & Co, which will enter the real estate market to build the project.
The project will offer many amenities, including a private club for members, an XL-sized pool, a spa, and luxury fitness facilities. Additionally, residents can opt for in-house concierge services, such as hiring a private chef and driver, or even a security agent if necessary. The design of the hyper-tower built by the aforementioned two companies has certain peculiarities that reflect Jacob & Co jewelry.
Regarding the building's layout, two-bedroom residences will be available in The Sapphire Suite Collection, while three-bedroom units will be located in The Emerald Suite Collection. As for the penthouse apartments, there will be three: Fleurs de Jardin, Astronomy, and Billionaire, which are the most luxurious in the real estate project.
Luxury brand Mercedes Benz is building a 360-meter-high and 65-story skyscraper that will feature 150 apartments. The typologies range from two to four bedrooms, plus an imposing triplex penthouse. Prices range from 2.25 million euros to the highest price in the tower, which is 21 million euros for the penthouse.
The project features essential architectural design and a height of 4.2 meters from floor to ceiling, giving a sense of space and luxury. Each unit is adorned with a private pool, offering residents an exclusive retreat within their home. The panoramic views from each unit facing the majesty of Burj Khalifa create a breathtaking living environment.
On its Instagram account, the German luxury brand stated about the project that Mercedes-Benz Places will be dressed in glass, whose "distinctive elliptical exterior reminiscent of the fluid lines of a crowd of ultra-modern Mercedes-Benz cars," is intended to "underline the company's strategy to strengthen its position as the world's most desirable automotive brand."
This trend of branded residences refers to real estate constructions financed by luxury brands that take a commission on each sale. In this case, the goal is also to attract investors through the brand to retain them and assist them in their purchase decision.
Dubai is the city with the most projects of this type in the world, with over 50 constructions announced for the years to come, and the most popular area is Dubai Creek, where legendary tennis player Roger Federer owns a property.
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