February 27, 2024

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Real estate speculation fever grips Dubai

Real estate speculation fever grips Dubai

Investigation – Buyers from all over the world are investing in the short term, especially in ultra-luxury products, with the aim of making incredible gains. An explosion that is not without risk.

Special Envoy to Dubai

Khadija El Othmani, with her hand on the wheel of her black Range Rover, takes the Sheikh Zayed Road, the grand highway that crosses the emirate from north to south amid skyscrapers, as she does every day. This real estate agent specializes in super luxury in Dubai, with incredible capital gains to boot. Who buys it? Footballers, financiers or property dealers are capable of putting millions of euros on the table in new off-plan real estate projects that are resold before completion. “I have made many clients multi-millionaires”, She assures, oblivious to the traffic jams that routinely clog this twice-eight-lane artery.

The reported gains are enough to turn heads. Almost €1.8 million (+170%) over 24 months for an architect-designed villa in Dubai Hills, a private complex outside the city. Over 8.8 million euros (+36%) in 4 months for the entire building…

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