Last modified on 10th May 2022. Dubai Real Estate Blog
Real Estate market in Dubai shows no sign of slowing down!
Luxury segment is still outperforming all others as the prices continue to rise.
Record breaking price of 12,624 AED per square foot was achieved for a 3- bedroom unit in Bulgari Resort and Residences, making this transaction the highest recorded price per square foot in the history of Dubai.
Kianoush D. and Lina A., Associate Partners at Driven Properties are the brokers behind this deal.
Kianoush, who was named the best broker in Dubai in 2021 by Property Finder, says the Bulgari Resort and Residences continues to be the most coveted address in Dubai:
“This is a high-end leisure residential project with a unique location in Jumeirah Bay Island.
Everything about the project is the perfect choice, from its location on the beautiful man-made island in the shape of a seahorse, to the amazing design inspired by the grandeur of ancient Italian architecture, and the exceptional facilities offered by the project.
It’s the secluded retreat you dream of in the heart of Dubai.”
Lina A. says it’s incredible to see how well Dubai real estate market is doing: “It comes as a true testament how far Dubai has come. All initiatives made by the government are proving to be very effective in attracting clients from all over the world. Since the start of last year, investors, especially from Europe and Asia, began flowing into Dubai to take advantage of the effective COVID-19 measures in place and ever improving business climate.”
Abdullah Alajaji, the Founder and CEO of Driven Properties, Dubai's leading luxury real estate brokerage, commented on the current trends we are seeing in the industry:
“Dubai’s real estate market has become a topic of significant interest in 2022. Buoyed by years of infrastructure and population growth, the market has outperformed most global property markets, beating Paris, London, New York, and Hong Kong, to name a few.
In fact, Dubai was ranked third globally as the city with the highest residential capital growth, recorded at 17 per cent, in 2021.”
Driven Properties was named the Best Large Brokerage in Dubai in 2021 by Property Finder. Founded in 2012 by Abdullah Alajaji, Driven Properties has both local and international clients. The brokerage was behind some of the record-breaking transactions in recent years.
Driven Properties is an exclusive member of Forbes Global Properties, an invitation-only consortium of leading luxury real estate firms, reserved for only the 100 most elite brokerages in the world.
Forbes Global Properties is a curated consumer marketplace that connects discerning buyers directly to the world’s finest homes and the best-in-class agents that represent them. Driven Properties is the only member of the prestigious network in the United Arab Emirates.