2023-10-05 17:03:13
A report in the real estate sector stated that sales of homes worth $10 million or more in Dubai reached $1.6 billion in the third quarter, up from $1.13 billion in the same period last year.
Real estate consulting firm Knight Frank reported that the total value of sales amounted to approximately $5 billion between January and September this year.
Dubai seeks to attract individuals and capital to drive long-term growth within the framework of an economic model that focuses on real estate investment, tourism and the flow of foreign capital.
The real estate field is enjoying a boom period supported by a Russian request, in light of sanctions related to the war on Ukraine and less stringent residency rules, and analysts believe that this time there are more protection measures than a repetition of the problems that Dubai suffered during the global financial crisis in 2008. The number of homes has reached more than 10 million dollars during the 9 months until September, to a record level of 277.
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