Latest news with #ShehzadJamal
Yahoo
25-05-2025
- Business
- Yahoo
Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
View from a villa at Palm Jumeirah, Dubai (Picture: Knight Frank) Following robust activity in 2024, the Dubai real estate market is expected to continue attracting demand from among the wealthy. According to a research report by property consultancy Knight Frank, high-net-worth individuals (HWNIs) surveyed around the world have indicated interest in purchasing a property in Dubai, with an estimated US$10.3 billion ($13 billion) in private capital potentially being channelled towards the emirate's residential market. The steady demand has bolstered activity in Dubai's residential market, which logged record residential sales of nearly 170,000 homes last year worth a total of US$100 billion, says Knight Frank. That momentum has carried over into this year, with AED100 billion ($35 billion) in home sales already achieved as of March 4. Dubai property prices have also continued to rise, surging 19.1% in 2024 to hit an average of AED1,685 psf. At the same time, Dubai remains the world's busiest market for sales of homes priced over US$10 million, the report states. Last year, a total of 435 transactions in this bracket were recorded in Dubai, almost equalling the number of such deals logged in London and New York combined. Between January and March this year, 111 homes were sold for over US$10 million in Dubai. Read also: Christie's International Real Estate returns to Singapore'The super-rich remain laser-focused on purchasing luxury homes in the city, and this unrelenting demand has been a critical driver of Dubai being the world's busiest US$10 million+ homes market for the second year running,' says Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa). In its latest Destination Dubai report, Knight Frank surveyed 387 global HNWI across the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to gauge their appetite for investing in United Arab Emirates real estate. Over half of the respondents (52%) indicated they are interested in buying property in the UAE. "As we have found in our research in previous years and mirroring the experience of our teams, the strongest appetite for a real estate purchase in the UAE comes from those with the greatest wealth and is a testament to the success of the government's programmes to strengthen the emirate's appeal as a place for the world's wealthy to live and invest,' says Faisal Durrani, partner and head of research for Knight Frank MENA. Saudi Arabia and India HNWIs registered the strongest interest, with 66% and 41% of respondents indicating an intent to purchase a UAE property in 2025. For the UK and East Asia HNWIs surveyed, 17% of each cohort indicated a potential UAE property purchase this year. Knight Frank adds that among the East Asia HNWIs, those in Hong Kong displayed the strongest appetite, with 22% of respondents signalling the intent to buy UAE property in 2025. According to the survey, residential properties remain the biggest draw for global HNWI as compared to the commercial and retail segments. Additionally, Dubai remains the top target destination, with 71% of respondents naming Dubai as their preferred emirate. Read also: Dubai's real estate market on a hot streak See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) Christie's International Real Estate returns to Singapore Dubai's real estate market on a hot streak Navigating the real estate market: From Singapore to Bali, Dubai, Japan and the UK En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
India.com
22-05-2025
- Business
- India.com
Indians are second to people from this country in buying high priced luxury properties in Dubai, top position goes to…, not US, UK, Russia, China, Pakistan
Indians are second to people from this country in buying high priced luxury properties in Dubai, top position goes to..., not US, UK, Russia, China, Pakistan Super-rich Indians are second to Saudi High Net Worth Individuals (HNWI) in buying luxury properties in Dubai, according to a report by global property consultancy Knight Frank. The report adds that British citizens are in third position after Indians in buying luxury properties in Dubai. Saudi HNWIs have the highest average budget of USD 45.7 million, followed by those from India at USD 44.6 million and UK citizens with USD 30 million, as per the report. Asian HNWIs have the lowest average budget among Knight Frank's survey respondents; however, this was still a very healthy USD 23 million. Global real estate investors chose Dubai's Marina area (28 per cent) as their preferred location. Other locations such as Dubai Hills Estate (24 per cent) and Emirates Hills (23 per cent) were the second and third places chosen by wealthy buyers, as per the Knight Frank report. Observing the trends, Shehzad Jamal, Partner – Strategy & Consultancy, MENA, said, 'For our wealthiest HNWI respondents (net worth > USD 50 million), Dubai Marina (43 per cent) commands the highest interest, demonstrating the enduring appeal of the long-standing poster child of Dubai's property market. For this group of super-rich buyers, Dubai Hills Estate (30 per cent) follows in second place, while Emirates Hills (22 per cent) rounds off the top three likely home purchase locations.' The 2025 edition of the Destination Dubai report further added that Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of United Arab Emirates Dirham (AED) 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak. On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 per sf, reflecting a 107.6 per cent uplift on Q1 2020. This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (With agency inputs)
Times of Oman
22-05-2025
- Business
- Times of Oman
Ultra-wealthy Indians are second to Saudis in buying luxury properties in Dubai: Report
New Delhi: Super-rich Indians are second to Saudi High Net Worth Individuals (HNWI) in buying luxury properties in Dubai, according to a report by global property consultancy Knight Frank. The report adds that British citizens are in third position after Indians in buying luxury properties in Dubai. Saudi HNWIs have the highest average budget of USD 45.7 million, followed by those from India at USD 44.6 million and UK citizens with USD 30 million, as per the report. Asian HNWIs have the lowest average budget among Knight Frank's survey respondents; however, this was still a very healthy USD 23 million. Global real estate investors chose Dubai's Marina area (28 per cent) as their preferred location. Other locations such as Dubai Hills Estate (24 per cent) and Emirates Hills (23 per cent) were the second and third places chosen by wealthy buyers, as per the Knight Frank report. Observing the trends, Shehzad Jamal, Partner - Strategy & Consultancy, MENA, said, "For our wealthiest HNWI respondents (net worth > USD 50 million), Dubai Marina (43 per cent) commands the highest interest, demonstrating the enduring appeal of the long-standing poster child of Dubai's property market. For this group of super-rich buyers, Dubai Hills Estate (30 per cent) follows in second place, while Emirates Hills (22 per cent) rounds off the top three likely home purchase locations." The 2025 edition of the Destination Dubai report further added that Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of United Arab Emirates Dirham (AED) 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak. On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 per sf, reflecting a 107.6 per cent uplift on Q1 2020. This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (
India Gazette
21-05-2025
- Business
- India Gazette
Ultra-wealthy Indians are second to Saudis in buying luxury properties in Dubai: Report
New Delhi [India], May 21 (ANI): Super-rich Indians are second to Saudi High Net Worth Individuals (HNWI) in buying luxury properties in Dubai, according to a report by global property consultancy Knight Frank. The report adds that British citizens are in third position after Indians in buying luxury properties in Dubai. Saudi HNWIs have the highest average budget of USD 45.7 million, followed by those from India at USD 44.6 million and UK citizens with USD 30 million, as per the report. Asian HNWIs have the lowest average budget among Knight Frank's survey respondents; however, this was still a very healthy USD 23 million. Global real estate investors chose Dubai's Marina area (28 per cent) as their preferred location. Other locations such as Dubai Hills Estate (24 per cent) and Emirates Hills (23 per cent) were the second and third places chosen by wealthy buyers, as per the Knight Frank report. Observing the trends, Shehzad Jamal, Partner - Strategy & Consultancy, MENA, said, 'For our wealthiest HNWI respondents (net worth > USD 50 million), Dubai Marina (43 per cent) commands the highest interest, demonstrating the enduring appeal of the long-standing poster child of Dubai's property market. For this group of super-rich buyers, Dubai Hills Estate (30 per cent) follows in second place, while Emirates Hills (22 per cent) rounds off the top three likely home purchase locations.' The 2025 edition of the Destination Dubai report further added that Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of United Arab Emirates Dirham (AED) 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak. On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 per sf, reflecting a 107.6 per cent uplift on Q1 2020. This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (ANI)
Mint
21-05-2025
- Business
- Mint
Ultra-wealthy Indians are second to Saudis in buying luxury properties in Dubai: Report
New Delhi [India], May 21 (ANI): Super-rich Indians are second to Saudi High Net Worth Individuals (HNWI) in buying luxury properties in Dubai, according to a report by global property consultancy Knight Frank. The report adds that British citizens are in third position after Indians in buying luxury properties in Dubai. Saudi HNWIs have the highest average budget of USD 45.7 million, followed by those from India at USD 44.6 million and UK citizens with USD 30 million, as per the report. Asian HNWIs have the lowest average budget among Knight Frank's survey respondents; however, this was still a very healthy USD 23 million. Global real estate investors chose Dubai's Marina area (28 per cent) as their preferred location. Other locations such as Dubai Hills Estate (24 per cent) and Emirates Hills (23 per cent) were the second and third places chosen by wealthy buyers, as per the Knight Frank report. Observing the trends, Shehzad Jamal, Partner - Strategy & Consultancy, MENA, said, "For our wealthiest HNWI respondents (net worth > USD 50 million), Dubai Marina (43 per cent) commands the highest interest, demonstrating the enduring appeal of the long-standing poster child of Dubai's property market. For this group of super-rich buyers, Dubai Hills Estate (30 per cent) follows in second place, while Emirates Hills (22 per cent) rounds off the top three likely home purchase locations." The 2025 edition of the Destination Dubai report further added that Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of United Arab Emirates Dirham (AED) 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak. On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 per sf, reflecting a 107.6 per cent uplift on Q1 2020. This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (ANI)
