Dubai's Property Market Poised for Continued Growth Through 2033
Dubai's real estate sector is set to sustain steady growth over the next eight years, with property prices expected to rise by 3 to 7 percent annually, according to a leading developer.
The market, which has surged over the past four years, shows no signs of a downturn in the near future.
Mohamed Binghatti, chairman of Binghatti Developers, said the market's resilience is driven by international demand, investor-friendly regulations, and ease of ownership. 'Until 2033, we are going to see some steady growth in the market,'
he said. 'I don't see any downfall or downturn anytime soon.'
The past four years saw double-digit price increases, largely fueled by high-net-worth individuals and global professionals relocating to Dubai. While the pace of growth is moderating, it remains firmly in positive territory.
Binghatti revealed that sales for the company's Aquarise project are progressing rapidly, with around 100 units being sold daily. 'We've already sold nearly 50 percent,'
he said, attributing the strong demand to buyers from the UK, Egypt, Turkey, China, and a rising number of British investors of Asian descent.
Despite exploring opportunities abroad, including Saudi Arabia and London, Binghatti emphasized the company's continued focus on Dubai. 'Our main focus will always be the UAE,'
he said, noting their standing among the top developers in the city.
The developer also confirmed plans for further branded residences and international collaborations, reflecting the market's evolving dynamics and sustained investor appetite.
News Source: Khaleej Times
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