- The UAE is home to nearly 70,000 millionaires and has
- Dubai will have around 90 brand communities by 2027
Dubai, United Arab Emirates: Unique Properties, one of Dubai’s leading real estate agencies, is seeing exceptional growth in luxury residences across many communities in Dubai. While the UAE is home to nearly 70,000 millionaires and is expected to see a 22% increase in high net worth households by 2027, Dubai has emerged as a lucrative destination to attract high net worth individuals (HNWI), and the property sector s has proven to be an attractive platform for combining luxury with lifestyle. These factors have contributed to Dubai’s emergence as the world’s best location for branded residences.
The global luxury branded residence industry has grown exponentially by 150% over the past decade. Around 640 branded residences represent the nearly 100,000 properties spread across the world, while supply levels are expected to nearly double to over 1,100 over the next three years. The Middle East will lead this charge with an expected increase in supply of 86%, and the United Arab Emirates will play a vital role.
Arash Jalili, Founder and Managing Director of Unique Properties, UAE HQ, said: “The rise of the branded residence segment in Dubai began with Armani Residences at Burj Khalifa in 2010. Luxury brands and developers have gradually realized the mutual benefit of the concept – but there has been an increase significant lately. In the first half of 2022 alone, more than 3,300 transactions worth more than AED 160 billion were recorded. Demand for branded residences is becoming increasingly apparent, showing great potential for the foreseeable future and the country’s overall real estate sector is set to receive additional investment with the Qatar World Cup officially underway. The segment of branded residences is one of these beneficiaries. According to FIFA, almost three million tickets have been sold so far and with the overwhelming demand seen by visitors from all over the world, this will lead to a massive influx of visitors to neighboring countries – Dubai being arguably the preferred destination for choice.
Dubai saw an 18% increase in HNWIs in the first half of 2022, and the UAE is expected to attract the largest influx of millionaires in the world by the end of the year.
About unique properties:
Founded in 2008, Unique Properties, one of Dubai’s leading real estate agencies, is headquartered in Dubai, United Arab Emirates. As a multi-award-winning real estate company, it is one of the most reputable in the region. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of hand-picked high-end off-plan projects and ready-to-sell and rent-to-let properties. In 2021, Unique Properties contributed 4.5% of Dubai’s total “off-plan” sales volume and around 1% to its overall real estate economy, which saw transactions worth $82 billion ($300 billion). of AED). Thanks to its multilingual and experienced consultants, Unique Properties offers its clients reliable and exceptionally personalized real estate investment solutions. Learn more about the unique properties at https://www.uniqueproperties.ae/en/