Entrepreneur Middle East Special Edition | Real Estate Leaders June 2025
Diriyah Gate
Diriyah embodies a vibrant reconnection with the Kingdom’s rich history, where a nation was born.
How Dubai real estate conquered the global elite
New report from Knight Frank shows remarkable foreign spend in Dubai.
Ali Al Gebely: The Game Changer
ONE Development has taken the real estate market by storm with the launch its highly acclaimed Laguna Residence.
Immersive Real Estate, Seeing is believing
Virtual reality is transforming the real estate industry. But just how far can it go?
Istanbul Rises
Istanbul’s real estate market is experiencing huge growth, with several new mega projects on the cards.
Special focus: Saudi Commercial Real Estate
The market is growing at significant rates, fuelled by several factors.
The plan is working
Off-plan sales in Dubai are surging, with buyers snapping up units in record numbers.
and
How GROHE’s smart bathroom innovation supports healthcare.
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If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion.
Elon Musk
Jerry Inzerillo, Group Chief Executive Officer, Diriyah Gate Company Limited
GATE DIRIYAH
Diriyah embodies a vibrant reconnection with the Kingdom’s rich history, where a nation was born.
Diriyah serves as a bridge between cultures and generations, rekindling its role as a global gathering place and emerging as a premier cultural tourist destination.
Diriyah is committed to preserving heritage, nurturing cultural exchange, and crafting unforgettable experiences for visitors from across the globe.
THE CRADLE OF THE KINGDOM
Diriyah stands as the birthplace of Saudi Arabia and its most valuable gem. Its origins date back to the 15th century (1446 AD), when Prince Mani’ bin Rabiah Al-Muraidi and his tribe, the Al-Dura’a, established the Emirate of Diriyah between Mulaibeed and Ghasibah.
Nestled strategically along Wadi Hanifah, which provided it with water, Diriyah was closely linked with the The Saudi Royal Family, setting the stage for its rise as a hub of stability, culture, and learning.
Diriyah’s flourishing marked the beginning of the First Saudi State, with the city becoming its capital in the 18th century and leaving a lasting mark in history.
A LIVING LEGACY
Today, behind every corner in Diriyah, lies a story of resilience; and heard in every pathway, are the aspirations of a remarkable people who proudly stand tall as a symbol of their identity and values.
Diriyah has transcended its role as merely a geographical location; it has become a vibrant narrative of a heritage that continues to thrive.
There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.
Sam Walton
How Dubai real estate THE GLOBAL ELITE CONQUERED
New report from Knight Frank shows remarkable foreign spend in Dubai
Dubai’s real estate market continued to expand during 2024, with values and rents climbing to fresh highs and the total value of transactions across all sectors topping US$ 207bn, while demand for homes from the global elite continues to intensify, according to the 2025 edition of the Destination Dubai report from global property consultancy Knight Frank.
Price growth was led by record residential sales of almost 170,000, totalling US$ 100bn in 2024, and momentum has continued into 2025, with home sales hitting AED 100bn by 4 March – the fastest pace on record.
The report also reveals that Dubai was the world’s busiest market for sales of US$ 10 million+ homes for the second consecutive year. The city recorded 435 sales in this exclusive bracket in 2024, almost equalling the number of US$ 10 million+ home sales in London and New York combined. A further 111 homes sold for over US$ 10 million during Q1, the highest number for any January to March period.
Looking ahead, Dubai continues to be a magnet for global wealth, and Knight Frank’s survey of 387 highnet-worth individuals (HNWI) based in India, Saudi Arabia, the UK and East Asia (China, Hong Kong and Singapore), each with an average net worth of US$ 22 million, carried out in partnership with YouGov, revealed a staggering US$ 10.3bn of private capital is taking aim at the emirate’s residential market.
Faisal Durrani Partner – Head of Research, Knight Frank MENA
“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.”
TOP INVESTMENT TARGETS
The UAE’s residential sector is the top target for Saudi HNWI (79%), followed by East Asian HNWI (68%) and potential buyers from the UK (67%).
The UAE, and Dubai in particular, boasts some of the world’s highest concentrations of branded homes and it is no surprise to see this residential subsector emerge as the second most sought-after real estate sector at 49%. The country’s office market (47%) rounds off the top three real estate sector preferences.
While the residential sector is a clear favourite, irrespective of personal wealth, its appeal appears to vary based on net wealth, ranging from 52% among those with personal wealth of US$ 10-15 million and climbing to 82% for those with a net worth of US$ 1-2 million.
Overall, 71% of global HNWI survey respondents named Dubai as their preferred emirate in the UAE for a real estate acquisition. This figure is highest among Saudi HNWI (80%), followed by British (74%), Indian (69%) and East Asian (61%) HNWI.
Will McKintosh (top image)
Regional Partner – Head of Residential, Knight Frank MENA
“The depth of demand from these nationalities is also reflective of our own market experience. Indeed, during 2024, Saudi, Indian and British nationals accounted for just over 50% of homes sold by Knight Frank in Dubai.”
The demand for an asset in Dubai is highest among HNWI with personal wealth of US$ 1-2 million (79%) and those worth US$ 7-10 million (79%). Similarly, the city holds strong appeal for those with personal wealth of U$ 20-30 million (70%) and US$ 30-50 million (67%).
Shehzad Jamal (Bottom image)
Partner – Strategy & Consultancy, MENA
“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.”
Image courtesy of Dino Quinzani
WHERE THE WEALTHIEST WANT TO BUY
Dubai Marina (28%) was once again the top target neighbourhood for a residential acquisition among HNWI, with Dubai Hills Estate (24%) and Emirates Hills (23%) in second and third place, respectively.
Jamal said: “For our wealthiest HNWI respondents (net worth > US$ 50 million), Dubai Marina (43%) 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%) follows in second place, while Emirates Hills (22%) rounds off the top three likely home purchase locations.”
PRICE SURGE CONTINUES
Dubai’s residential market experienced another strong year in 2024, with property values rising by 19.1% to an average of US$ 458.82 psf, pushing prices to 13.3% above the 2014 peak.
On average, villa sale prices grew by 19.6% in the 12 months to the end of Q1, reaching US$ 568.55 psf, reflecting a 107.6% 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.
Knight Frank highlights that in this current property cycle there has been a rise in genuine end-users, rather than the speculative purchasers that have defined previous cycles. This change is reflected in the fact that there has been a reduction in the number of homes available for sale across the city, with the very top end of the market impacted the most. For instance, in the exclusive US$ 13million+ bracket, the number of homes available to purchase in 2024 fell by 48% when compared to 2023.
Durrani said: “While we have anecdotal evidence of end-users being the most active buyer group in the market, our research has revealed a number of other key tell-tale signs. For instance, we have also found that 83% of global HNWI are interested in purchasing land in Dubai to build their own home. This appetite is high almost irrespective of nationality. Dubai has matured quickly throughout this property cycle and this is clearly evidenced by the desire of potential global HNWI home buyers to settle in the city.”
WHAT HNWI ARE PREPARED TO SPEND
The average allocated budget for a home purchase in Dubai by global HNWI is US$ 32 million. However, 54% of those with personal wealth of over US$ 50 million would be prepared to buy a home in Dubai for more than US$ 80 million.
Saudi HNWI have the highest average budget (US$ 45.7 million), followed by those from India (US$ 44.6 million) and the UK (US$ 30 million). Asian HNWI have the lowest average budget among Knight Frank’s survey respondents, however, this was still a very healthy US$ 23 million.
Image courtesy of Yogendra Joshi
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
Jeff Bezos
THE GAME CHANGER ALI AL GEBELY
It took less than a month for ONE Development to sell out Phase 1 of its new Laguna Residence development. But for Ali Al Gebely, this is just the beginning.
Our vision is to redefine the boutique real estate segment, setting new benchmarks for residential experiences through techdriven, customer-centric design.
Phase 1 of Laguna Residence sold out in less than a month after launch. Were you surprised by such a strong performance?
The swift sell-out of Phase 1 of Laguna Residence in under a month was a significant milestone, yet it aligned with our expectations. This success underscores the trust and confidence that both local and international investors place in ONE Development’s vision and execution capabilities. It reflects our strong understanding of the market dynamics and its readiness for innovative, AI-integrated living spaces.
This achievement has encouraged our teams to deliver exceptional developments that meet and exceed our clients’ evolving expectations.
Can you expand on the new showroom in Abu Dhabi –the key features that make it such an important step forward?
Our new showroom on Saadiyat Island represents a pivotal step in our expansion across the UAE. Strategically located in the capital Abu Dhabi’s cultural and lifestyle hub, the showroom embodies ONE Development’s commitment to innovation and personalised client experiences.
The showroom is designed to provide an immersive experience, featuring advanced displays, carefully selected design elements, and interactive spaces. It serves as a gateway for clients to explore our unique approach to boutique real estate, allowing them to experience firsthand the quality and innovation characterising our projects.
ONE Development is a newcomer to the property scene yet has managed to make a huge impact already. What are the reasons for this?
ONE Development thrives on agility and a clientcentric approach. Our focus is on delivering tailored, high-quality experiences that resonate with today’s discerning residents. We differentiate ourselves in a competitive market by integrating advanced technologies and sustainable practices.
Our developments, like Laguna Residence, exemplify this philosophy by blending innovative design, lifestyle amenities, and AI-powered solutions to create communities that foster connection, comfort, and a sense of home.
How do you see the company evolve over the next five years, and what are the biggest obstacles you see to growth?
Over the next five years, ONE Development aims to lead the transformation of community living by prioritizing connection, sustainability, and innovation. Our vision is to redefine the boutique real estate segment, setting new benchmarks for residential experiences through tech-driven, customer-centric design. This strategy is now extending beyond the UAE, marked by our recent international expansion with the launch of DO New Cairo in Egypt, and upcoming developments in Saudi Arabia and Europe by the end of the year laying the foundation for a truly global presence and a future shaped by visionary living.
Laguna Residence is very well known for its integration of AI and other technological advancements. However, these industries are fast-moving. Do you have a vision for the type of home we will be living in ten years from now?
Laguna Residence represents our vision for the future of living, where AI and technology seamlessly integrate into daily life. Through an innovative app, residents enjoy automated home management, personalised services, and intelligent facility control, all powered by AI. This ensures an efficient, smart, and connected lifestyle, elevating everyday living to new heights.
Looking ahead, we envision homes that adapt to residents’ needs in real time, utilising AI to enhance comfort, security, and sustainability. Our commitment is to continue pioneering advancements that redefine residential living, ensuring our communities remain at the forefront of innovation.
Can you share how the concept of DO Hotels & Residences was born through your collaboration with the iconic Amr Diab?
The idea was developed from a shared vision to create something that didn’t exist—a hospitality experience that truly moves people. Amr Diab brought the soul: his global energy, passion for music, and timeless influence. We brought our expertise in designing spaces that inspire and connect. Together, we envisioned a new brand that blends music, wellness, and technology into an immersive lifestyle journey. This vision took shape with the launch of DO Dubai on Dubai Islands, followed by our first international debut with DO New Cairo in Egypt. By the end of the year, we are set to expand further into Riyadh and Greece, marking the beginning of a global footprint for DO Hotels & Residences.
You will be aware of the record sales numbers for the Dubai property market in Q1 – what do you see as the reasons for this?
Dubai’s record Q1 property sales were driven by strong international investment, government visa reforms, limited supply in prime areas, and growing demand for branded, lifestyle-centric developments. Economic stability, population growth, and a global shift toward secure, highyield assets further fueled momentum. ONE Development is well-positioned within this landscape, catering to demand for premium, design-led real estate in strategic locations.
What were the key factors you believe in driving the sales for Laguna Residence?
Laguna Residence’s success stems from its pioneering AI integrated residential concept, the UAE’s first of its kind, offering personalized, tech-enhanced living. It also features the region’s largest sandy beach lagoon on a podium, framed by lush landscaping and panoramic skyline views—creating a resort like environment that appeals to modern urban buyers. The offering of diverse, meticulously designed units—from studios to Sky homes combined with over 40 world-class amenities, enhances its broad market appeal. Strong demand was further driven by a globally diversified investor base and strategic international partnerships.
Looking ahead, we envision homes that adapt to residents’ needs in real time, utilising AI to enhance comfort, security, and sustainability.
Just because something doesn’t do what you planned it to do doesn’t mean it’s useless.
Thomas A. Edison
Immersive Seeing is believing REAL ESTATE
Virtual reality is transforming the real estate industry. But just how far can it go?
The real estate industry has traditionally been rooted in physical experiences—site visits, blueprints, and handshakes. However, in the last decade, technological innovations have rapidly changed how properties are bought, sold, and managed. Among these innovations, Virtual Reality (VR) and Augmented Reality (AR) have emerged as game-changers. These immersive technologies are reshaping how real estate professionals engage with clients, plan developments, and close deals, offering efficiency, creativity, and accessibility that were previously unimaginable.
Virtual Reality and Augmented Reality originated primarily from the fields of military training, gaming, and entertainment. In the early 1990s, VR began appearing in arcadestyle experiences, while AR gained traction in industrial and medical applications in the early 2000s.
The concept of using immersive simulations for architectural visualization isn’t new. Architects have long used 3D modeling software like AutoCAD and Revit to help clients understand spatial design.
Image courtesy of Samuel Zeller
With the rise of consumergrade VR headsets like the Oculus Rift (2012) and AR platforms like Microsoft’s HoloLens (2015), the door was opened for these tools to enter the real estate mainstream.
However, until the 2010s, these remained largely on-screen experiences. With the rise of consumer-grade VR headsets like the Oculus Rift (2012) and AR platforms like Microsoft’s HoloLens (2015), the door was opened for these tools to enter the real estate mainstream.
One of the most widespread uses of VR in real estate is the 360-degree virtual tour. Instead of scheduling multiple in-person visits, potential buyers or renters can take immersive tours from their computer or VR headset, saving time and expanding reach.
> Zillow and Matterport are two major platforms offering this service. With Matterport, agents scan a property using 3D cameras, creating a navigable digital twin of the space.
> These tours are particularly valuable for international buyers, remote investors, and busy professionals, removing geographical and logistical barriers.
In 2023, Sotheby’s International Realty reported a 30% increase in listings featuring virtual tours, with those listings receiving 49% more engagement than those without.
For properties under construction or in planning, VR can create fully immersive, lifelike walkthroughs of unfinished spaces. Buyers can visualize floor plans, finishes, lighting, and views before a single brick is laid.
> Developers use interactive VR showrooms where clients can explore various apartment layouts and customize elements like countertops, flooring, and furniture styles.
> AR takes this further by allowing prospective buyers to use mobile apps to overlay digital renderings of buildings on undeveloped land or lots.
Dubai-based real estate developer Emaar used VR to sell units in its iconic Downtown Dubai development, allowing overseas investors to virtually “walk through” penthouses before construction was completed.
AR tools let users overlay furniture, decor, and even architectural changes (like moving a wall) onto a real environment via their smartphone or tablet. This is especially useful for:
> Home staging: Realtors can show different design themes to clients.
> Renovation: Architects and clients can collaborate using AR to visualize remodels.
VR is increasingly used to train real estate agents, architects, and construction workers.
Simulated environments help professionals practice sales scenarios, safety protocols, or design collaboration without real-world risks.
IKEA’s AR app lets users place digital furniture in their homes. This concept has inspired real estate firms to offer similar staging experiences for vacant homes, improving buyer imagination and reducing staging costs.
VR is increasingly used to train real estate agents, architects, and construction workers. Simulated environments help professionals practice sales scenarios, safety protocols, or design collaboration without real-world risks. Some universities and brokerages now include VR modules in their real estate training courses, improving agents’ ability to understand space, layout, and buyer psychology.
VR and AR also democratize access to properties. Overseas buyers, elderly clients, and people with disabilities can tour homes without needing to travel. During the COVID-19 pandemic, virtual tours became essential, and their popularity has remained strong.
Buyers can pre-filter properties using virtual tours, drastically reducing the number of physical visits needed. Realtors save time, developers lower marketing costs, and buyers make faster, more confident decisions.
According to National Association of Realtors (NAR), listings with virtual tours receive 87% more views than those without. They also reduce the average time a home stays on the market.
CASE STUDIES
Dubai: Global Leader in VR-Driven Real Estate
Dubai has positioned itself as a smart city and tech hub, and real estate firms in the region are leveraging immersive tech in innovative ways:
> Ellington Properties uses VR for off-plan sales, letting buyers explore different apartment configurations in virtual reality.
> Dubai Land Department has invested in creating a comprehensive digital twin of the city, integrating VR and AR into public access portals for property registration and planning.
> DAMAC Properties introduced VR experiences in their London and Dubai offices, enabling global investors to tour skyscrapers virtually.
United States: Mainstream Adoption
> Redfin, Compass, and Coldwell Banker regularly include VR tours in listings, with some offering fully guided virtual walkthroughs hosted by agents in real-time.
> RE/MAX Canada launched an immersive platform where agents could host virtual open houses in VR environments complete with avatars.
Global: Startups Leading Innovation
> Giraffe360 (UK) offers subscription-based cameras and software for VR content generation, streamlining how agents create immersive tours.
> EyeSpy360 (Global) allows for 3D tours and real-time video conferencing within the virtual tour, combining the benefits of Zoom and VR.
So, what’s next? Expect AI to be increasingly integrated into VR platforms—creating personalized property recommendations based on user interactions, voice-guided tours, and dynamic environment changes.
Virtual real estate is already a phenomenon. Platforms like Decentraland and The Sandbox have sold millions in digital land. Though speculative, some investors believe metaverse spaces will be key for commercial real estate branding, especially for digital-first businesses.
In 2022, PwC bought virtual land in The Sandbox to set up a digital advisory hub.
Companies are exploring haptic suits and smellemitting devices to create more lifelike property walkthroughs. Imagine not just seeing a kitchen but feeling the temperature or smelling the freshly baked cookies.
As devices like Apple Vision Pro and next-gen AR glasses become more widespread, the need for phones or headsets will diminish. Clients might soon walk through real homes with layered digital overlays offering information, design suggestions, or real-time market comparisons.
As cities like Dubai and companies around the world embrace these innovations, the real estate industry is entering a new era—one that’s more digital, immersive, and customer-centric than ever before. With VR and AR, the old adage “seeing is believing” is evolving into “experiencing is deciding.”
Virtual real estate is already a phenomenon. Platforms like Decentraland and The Sandbox have sold millions in digital land.
Making money is art and working is art and good business is the best art.
Andy Warhol
Istanbul RISES
Istanbul’s real estate market is experiencing huge growth, with several new meag projects on the cards.
Over the past five years, Istanbul’s real estate market has experienced significant growth, driven by a combination of economic factors, infrastructural developments, and evolving investor preferences.
Between 2020 and 2025, Istanbul’s real estate market has witnessed substantial appreciation. From January 2018 to December 2024, property values increased by approximately 82.14%, with a notable 23.45% rise in 2024 alone. This surge is attributed to factors such as favorable exchange rates, urban development initiatives, and a growing demand for residential and commercial properties.
Several prominent developers have been instrumental in transforming Istanbul’s urban landscape:
BOSPHORUS Development
Established in the 1930s, BOSPHORUS Development has been a significant player in Istanbul’s real estate sector. The company specializes in constructing residential complexes, offices, business centers, hotels, and shopping and entertainment centers. Notable projects include the Istanbul Tower 205 skyscraper and the Istanbul Aquarium.
Emaar Properties
A global real estate developer, Emaar Properties has made a significant impact in Istanbul with projects like Emaar Square Istanbul. This mixed-use development includes residential units, office spaces, a hotel, and retail outlets, contributing to the city’s modern skyline.
Eroğlu Holding
Known for its Skyland İstanbul project, Eroğlu Holding has developed a mixed-use skyscraper complex in the Seyrantepe neighborhood. The development features office, residential, and hotel towers, showcasing the company’s commitment to integrated urban living.
Alarko Holding
Founded in 1954, Alarko Holding operates in various sectors, including construction and real estate. The conglomerate has been involved in numerous projects across Turkey, contributing to the country’s infrastructural development.
Doğuş Group
Active in multiple sectors, Doğuş Group has significantly influenced Istanbul’s real estate market. The group’s involvement in the Galataport project, a major cruise ship port development in Karaköy, exemplifies its impact on the city’s urban transformation.
WHERE THE WEALTHIEST WANT TO BUY
As of 2024, Istanbul’s real estate market presents diverse investment opportunities:
> Average Unit Price: Approximately $1,295 per square meter.
> Average Property Price: Around $147,683.
> Amortization Period: Estimated at 15 years.
> Rental Yield: Approximately 6.79%.
> Annual Capital Growth: Projected at 17.37% for the next year.
Notably, neighborhoods like Kadıköy have experienced significant price increases, with an annual growth rate of 21.63%, indicating strong demand and investment potential.
When compared to other major global cities, Istanbul’s real estate market offers competitive advantages:
> Property Prices: Istanbul’s average property prices are considerably lower than cities like London, New York, and Dubai. For instance, the average price per square meter
in Istanbul ranges from $3,000 to $6,000, whereas in London, it can reach up to $20,000.
> Rental Yields: Istanbul offers attractive rental yields, averaging between 5% and 8%, surpassing cities like London (2%–4%) and New York (3%–5%).
> Capital Appreciation: Istanbul’s real estate market has demonstrated robust capital appreciation, with annual growth rates ranging from 10% to 25%, outpacing many developed markets.
Looking ahead, Istanbul’s real estate market is poised for continued growth. Ongoing infrastructural projects, such as the expansion of the metro network and the development of new business districts, are expected to enhance connectivity and attract further investment. Additionally, the city’s strategic location as a bridge between Europe and Asia continues to bolster its appeal to international investors.
MAJOR REAL ESTATE PROJECTS UNDERWAY IN ISTANBUL
CBRT Tower (Central Bank Tower)
> Location: Ümraniye, Istanbul
> Status: Completed in 2024
> Details: Standing at 352 meters with 59 floors, the CBRT Tower is Turkey’s tallest building and the nation’s first supertall skyscraper. It serves as a central office for the Central Bank of the Republic of Turkey and is part of the broader Istanbul Financial Center initiative.
Tersane Istanbul
> Location: Karaköy, Istanbul
> Expected Completion: December 2025
> Details: This extensive urban regeneration project spans 26.6 hectares and aims to transform the historic
naval dockyard into a modern mixed-use development. It will feature 1,000 residential units, four hotels with 1,600 rooms, office spaces, retail outlets, cultural venues, and a marina.
M12 Istanbul Metro Line
> Route: 60. Yıl Parkı – Kazım Karabekir
> Length: 13.03 km
> Expected Opening: 2025
> Details: This new metro line will connect the districts of Kadıköy, Ataşehir, and Ümraniye, enhancing public transportation across the Asian side of Istanbul. It will integrate with existing lines, including Marmaray and the M4 and M5 lines.
FUTURE MEGA PROJECTS IN ISTANBUL
1. Diamond of Istanbul
> Location: Maslak, Istanbul
> Expected Completion: 2028
> Details: This ambitious project will feature a 63-floor steel skyscraper, making it the tallest building in Turkey upon completion. The development will include a luxury hotel, A-class office spaces, and residential apartments.
2. Kiptaş Silivri
> Investment: $5 billion
> Details: This large-scale development will comprise 10,000 homes along with retail, office, and recreational
spaces, catering to the growing demand for housing in the Istanbul metropolitan area.
3. Vadistanbul
> Location: Eyüp, Istanbul
> Investment: $2.6 billion
> Details: Vadistanbul is a mega center that will include park areas, residential towers, and 1.4 million square feet of office space, aiming to create a vibrant urban community.
Details create the big picture.
Sanford I. Weill
Special focus
Commercial Real Estate SAUDI
The market is growing at significant rates, fuelled by several factors.
The Saudi Arabia Commercial Real Estate Market was valued at USD 34.9 Billion in 2024, and is expected to reach USD 71.01 Billion by 2030, rising at a CAGR of 12.40%. This growth trajectory is primarily driven by the Kingdom’s Vision 2030 initiative, which seeks to diversify the economy beyond its traditional reliance on oil.
Comprehensive government reforms - ranging from incentives for foreign investment to regulatory improvements and large-scale infrastructure developments - have fostered a supportive environment for commercial real estate expansion. Major cities such as Riyadh, Jeddah, and Dammam are experiencing heightened demand for office spaces, retail centers, and industrial zones. This demand is propelled by the rapid development of key sectors including tourism, finance, and technology.
Flagship projects such as NEOM, The Red Sea Project, and Qiddiya are attracting international investors and reshaping the country’s commercial real estate landscape. The influx of multinational corporations and the rise of entrepreneurial ventures have further increased the need for modern office facilities, co-working spaces, and mixed-use developments.
Key Market Drivers
Vision 2030 Initiative
Saudi Arabia’s Vision 2030 is a transformative national strategy aimed at reducing the country’s dependence on oil by diversifying its economic base. By 2024, the Kingdom had committed approximately USD 1.3 trillion to infrastructure development, significantly expanding its residential, commercial, and hospitality capacities. This includes plans to introduce over one million residential units and to increase retail and office space by 7 million square meters each. These
substantial investments have created a dynamic and resilient environment for commercial real estate growth, drawing interest from both local and foreign investors.
Key Market Challenges
Escalating Construction Costs and Supply Chain Disruptions
One of the primary challenges confronting Saudi Arabia’s commercial real estate market is the rising cost of construction materials, exacerbated by ongoing supply chain
disruptions. The country’s ambitious development programs - including NEOM and Qiddiya - have intensified demand for building materials, skilled labor, and specialized equipment. This has contributed to cost inflation, posing difficulties for developers attempting to manage budgets effectively.
Moreover, global supply chain constraints, influenced by geopolitical tensions and volatile oil
prices, have delayed material deliveries, leading to project timelines being extended and overall expenses increasing. The sector’s dependence on imported materials also exposes it to currency fluctuations and international trade restrictions. Although the government is working to localize production through industrialization initiatives, balancing supply and demand remains a critical hurdle for the sustained growth of the commercial real estate market.
Key Market Trends Proliferation of Mixed-Use Developments
The Saudi commercial real estate sector is increasingly characterized by a shift towards mixed-use developments that integrate residential, commercial, retail, and entertainment facilities within a single project. This trend is being driven by rising urbanization, shifting consumer expectations, and the need for sustainable, efficient land use.
Notable examples include the King Abdullah Financial District (KAFD) in Riyadh and The Avenues Mall in Khobar, both of which combine premium office spaces, luxury retail outlets, upscale residential units, and entertainment venues. Mixed-use developments attract a diverse tenant mix, enhancing occupancy rates and providing resilient long-term returns for investors.
These integrated communities align with Vision 2030’s emphasis on smart cities and sustainable urban planning. Developers are increasingly incorporating green building standards, energyefficient technologies, and digital infrastructure to enhance their value proposition. As lifestyle preferences evolve and the demand for convenience rises, mixed-use projects are expected to become a cornerstone of Saudi Arabia’s commercial real estate landscape.
Key Market Players
> Emaar Properties PJSC
> Nakheel PJSC
> Aldar Group
> Prologis, Inc.
> Tishman Realty & Construction LLC
> Lincoln Property Company
> Blackstone Inc.
> Realogy Holdings Corp.
*All content reproduced from Research & Markets
Image courtesy of Maher Najm
Our work is the presentation of our capabilities.
Edward Gibbon
The plan is WORKING
Off-plan sales in Dubai are surging, with buyers snapping up units in record numbers.
For a moment, it felt like Dubai had been stuck in a time warp. Hundreds of people queuing in the heat outside Nakheel sales center, holding on to their tickets which they hoped would secure them a piece of the action – an off-plan purchase on the Palm Jebel Ali.
But this wasn’t 2008 – fast forward to 2025, and the off-plan property market in Dubai is on fire. Crazy queues, and even more crazy ROIs.
W Capital, a leading Dubai real estate brokerage, noted that off-plan property sales, sought after by many investors, have reached a new high since the beginning of 2025, exceeding AED 90bn.
The survey, based on data from the Dubai Land Department, DLD, indicated that the Dubai real estate market witnessed 40,500 off-plan property transactions between January and May 15, 2025, valued at AED 90bn, making 38% of total market sales. Ready-built properties, which recorded AED 147.4bn, accounted for 62% of sales during the same period. According to the data, off-plan transactions included 36,359 residential units and 4,141 buildings.
Modern real estate legislations and the effective regulatory role of government agencies were among the most prominent factors that contributed to establishing a stable and secure investment environment.
Walid Al Zarooni, Chief Executive Officer, W Capital Real Estate
“Dubai’s off-plan real estate market is witnessing significant growth in 2025, making it a preferred destination for local and international investors,” said CEO Walid Al Zarooni.
He stated that off-plan properties in Dubai have become a preferred investment choice for many investors, thanks to a number of factors that enhance their attractiveness in the real estate market.
He noted that among the most prominent of these factors are competitive prices, as off-plan properties are offered at prices ranging from 5% to 15% lower than ready properties, offering attractive opportunities to obtain residential units at reasonable prices.
He also pointed out that developers offer flexible payment plans that help investors easily finance their purchases, including the options of paying only 50% upon delivery.
“Off-plan properties in Dubai also boast high rental returns of up to 7%, making them an attractive option for those seeking a steady and stable return on their investments,” the CEO said.
As for the future of the market, Al Zarooni expects demand for this type of property to continue rising in the coming years, due to Dubai’s population growth and the increased need for new housing units.
He also noted that significant government investments in infrastructure projects play a vital role in supporting this trend, especially as the emirate seeks to reach a population of 5.8 million by 2040. This will directly contribute to boosting real estate market activity and increasing investment in new residential projects.
Walid Al Zarooni pointed out that Dubai’s real estate market is attractive because of the great diversity of off-plan projects, whether in terms of locations, designs, or finishing standards, providing a wide range of options that meet the various needs and preferences of investors.
He believes this diversity to reflect the market’s accelerating maturity and enhance Dubai’s position as a preferred destination for real estate investment regionally and globally.
“Modern real estate legislations and the effective regulatory role of government agencies were among the most prominent factors that contributed to establishing a stable and secure investment environment,” Al Zarooni said.
He confirmed that laws that guarantee investors’ rights, in addition to strict regulations for licensing off-plan projects, have increased confidence and transparency in the market, making investment more attractive and less risky.
Al Zarooni said that the improvement in real estate financing services has significantly contributed to increasing demand for new real estate projects, especially with some banks offering financing plans specifically for offplan properties. This has provided a greater opportunity for first-time buyers to benefit from attractive returns.
He also noted that the economic momentum generated by Dubai’s hosting of major global events has directly impacted the real estate market. These events have accelerated the pace of new project launches and increased demand for properties under construction, at a time when the emirate seeks to continue growth and attract more long-term investments.
KEY FACTORS FUELING THE GROWTH OF OFF-PLAN SALES
Attractive Payment Plans
Developers have introduced flexible payment structures, such as 10/90 and 20/80 plans, where a significant portion of the payment is due upon project completion. These schemes make off-plan properties accessible to a broader demographic, including first-time buyers and investors seeking lower entry points.
Increased Foreign Investment
Dubai’s strategic location, tax-free environment, and high rental yields continue to attract foreign investors, especially from countries like India, China, Russia, and the UK. The introduction of long-term residency visas and investment incentives has further bolstered this influx.
Expo 2020 Legacy and Vision 2040
The aftermath of Expo 2020 and the forward-looking Vision 2040 have provided a significant boost to Dubai’s real estate sector. Infrastructure development, along with the government’s focus on sustainability and smart cities, has created a positive investment climate. The offplan property market has benefited from this vision, with new sustainable communities and green projects being key selling points for developers.
Limited Availability in the Secondary Market
Established communities like Downtown Dubai and Palm Jumeirah have seen vacancy rates drop below 5%, leading to increased competition for available units. This scarcity has driven buyers toward off-plan alternatives, where they can secure properties in desirable locations before completion.
Rising Rental Prices
With average apartment lease rates increasing by 17.3% and villa rents surging by 23%, many end-users are choosing to buy off-plan properties as a hedge against rising rental costs. This trend is particularly evident in areas experiencing rapid urban development.
High-Net-Worth Individual (HNWI) Influx
Dubai continues to attract a growing number of highnet-worth individuals (HNWIs), significantly influencing the luxury real estate segment. In 2024 alone, the emirate welcomed 6,700 millionaires, solidifying its position as a global wealth hub. This influx has driven demand for ultra-luxury properties and large-scale offplan investments.
THE OFF-PLAN STARS OF DUBAI
Several high-profile off-plan developments have garnered attention due to their scale, luxury offerings, and strategic locations.
The Oasis by Emaar
Launched in 2023, The Oasis is a Dh73.4 billion project by Emaar Properties, featuring a vast desert-inspired community with residential units, retail spaces, and leisure facilities. The project’s ambitious scale and innovative design have made it a standout in Dubai’s offplan market.
Venice by Azizi Developments
Azizi Developments introduced Venice, a Dh30 billion mixed-use community project, in 2023. Inspired by the Italian city, the development promises waterfront living with luxury amenities, attracting both investors and endusers seeking a unique lifestyle.
Oceanz by Danube Properties
Danube Properties launched Oceanz, a series of five projects in 2023, with the first tower selling out rapidly. The development emphasizes affordability without compromising on luxury, catering to a broad spectrum of buyers.
Palm Jebel Ali
After a hiatus, the Palm Jebel Ali project was relaunched in 2023. The development aims to house 35,000 families and features luxury mansions and apartments. The project’s scale and prime location have made it a focal point for off-plan investments.
Burj Binghatti Jacob & Co Residences
This collaboration between Binghatti Properties and luxury brand Jacob & Co aims to create the tallest residential building in the world. The 104-story skyscraper in Business Bay is set to redefine luxury living in Dubai.
Six Senses Residences Dubai Marina
Rebranded from the long-stalled Pentominium Tower, this 122-story development by Select Group promises to be the tallest building in Dubai Marina. The project targets ultra-high-net-worth individuals seeking exclusive residences.
Armani Beach Residences at Palm Jumeirah
In collaboration with the Armani Group and architect Tadao Ando, Arada is developing a luxury beachfront community on Palm Jumeirah. The project combines high-end design with the allure of the iconic island.
Images courtesy of The Oasis by Emaar & Venice by Azizi Developments
The superior man understands what is right; the inferior man understands what will sell.
Confucius
Game CHANGERS
Mansour bin Madi Chief Executive Officer, Real Estate Development Fund
Mansour Bin Madi possesses more than 30 years of leadership and practical experience in the financial sector, during which he worked on strategising, planning and launching various financial and funding products and solutions as well as leading major digital projects on both local and international levels.
He has held many positions, the last of which was his assignment as the GM of the REDF. During this period, Bin Madi has led the REDF to significant achievements that contributed to realising the goals of the Saudi housing programme, where by the fund found new innovative methods to accommodate a 15-year waiting list in just three years to achieve the 2020 (60 percent) Saudi housing target, through the new subsidised loan programme, up from 47 percent in 2017.
More than 487,000 Saudi families benefited from the financing and housing programmes provided by the “subsidised loan” in various regions of the kingdom until the end of the first quarter of 2021.
The continuous achievements go along with evolving the efficiency of e-services, developing the platform and application of the “Real Estate Advisor”, and expanding with the establishment of more strategic partnerships with strategic finance partners such as banks and real estate financing institutions.
Muhammad Yousuf Founder, Amirah Developments
Muhammad Yousuf Jafrani’s extensive experience in the UAE spans over 15 years, during which he has built a reputation as a successful and versatile entrepreneur. His journey began in the competitive car rental industry, where he founded and expanded several leading companies, including Speedy Drive Car Rental, Al Emad Car Rental LLC, Quick Lease Car Rental, and Hala Drive Car Rental. These businesses grew to include a combined fleet of approximately 7,000 vehicles, establishing a reputation for reliability and excellence in the market.
Jafrani’s entrepreneurial spirit didn’t stop at the automotive industry. He further diversified his portfolio by venturing into the hospitality sector with the launch of Bebek Restaurant, a popular and renowned dining destination. His expertise in identifying opportunities for growth and innovation continues with his latest venture, Amirah Developments. Through this real estate initiative, he is making his mark on Dubai’s dynamic property market, with a focus on creating high-quality developments that are both innovative and communityoriented.
Across his diverse ventures, Jafrani has demonstrated an unwavering commitment to excellence, growth, and industry leadership, solidifying his position as a prominent figure in the UAE’s entrepreneurial landscape.
Michael Lahyani Founder and CEO, Property Finder
Michael Lahyani is a trailblazing entrepreneur and the founder and CEO of Property Finder, one of the leading online real estate platforms in the Middle East. Since its launch in 2007, Lahyani has transformed the real estate industry in the MENA region, offering a digital-first approach to streamline the property search process for buyers, sellers, and renters. Relocating to Dubai in 2007, Lahyani identified a gap in the real estate market—a lack of a comprehensive, user-friendly platform to simplify property transactions. With a background in business and technology, he envisioned a solution that would provide detailed property listings, advanced search tools, and a seamless user experience. This vision materialized as Property Finder, a platform that has since become synonymous with real estate innovation in the region.
Under Lahyani’s leadership, Property Finder has experienced exponential growth, attracting millions of users each month and securing significant investments from global investors. The platform features cutting-edge tools, including virtual tours, property price analytics, and customized search options, setting new standards for real estate technology in the MENA region. With operations across the UAE, Saudi Arabia, Egypt, Qatar, and other key markets, Property Finder has solidified its position as a leader in the region’s proptech sector.
Beyond his business achievements, Lahyani is a strong advocate for innovation and entrepreneurship in the region. His leadership continues to inspire advancements in the digital real estate space, fostering growth and modernization in the Middle Eastern property market.
Satish Sanpal Chairman, ANAX Holding
Satish Sanpal is a distinguished entrepreneur and visionary leader renowned for his transformative contributions across multiple industries. As the Chairman of ANAX Holding, Sanpal has redefined industries regionally and globally, leveraging his extensive expertise in media, hospitality, and real estate development. He is celebrated for his exceptional ability to identify growth opportunities and for his forward-thinking approach, which has propelled his ventures to unprecedented success.
A pioneer in global entrepreneurship, Sanpal has established strategic alliances with leading hotel chains and industry leaders, particularly in the hospitality sector. His unwavering commitment to excellence and innovation is exemplified through ANAX Holding, a company that stands at the forefront of disruption across hospitality, nightlife, real estate, and investment sectors. Under Sanpal’s leadership, ANAX Holding remains agile, continuously adapting to emerging technologies and evolving consumer preferences to maintain its competitive edge.
ANAX Holding is a premier investment firm recognized for managing a diverse portfolio of strategic businesses. The firm’s vision is to drive innovation and transformation across industries by identifying high-potential investment opportunities and empowering its portfolio companies to achieve sustainable growth. Specializing in strategic investments, ANAX Holding focuses on both emerging technologies and established markets.
With deep industry expertise and an extensive global network, ANAX Holding provides robust support to businesses, utilizing advanced analytical tools to help them scale and succeed. The firm is dedicated to delivering superior returns for its partners while driving growth, fostering value creation, and enhancing overall business performance. Through collaborations with companies led by strong management teams and innovative business models, ANAX Holding is building a legacy of success, contributing to a thriving regional and global economy.
Husein Salem CEO, Ohana Development
Husein Salem, the CEO of Ohana Development, represents a remarkable blend of academic distinction and a passion for redefining luxury living across the MENA region and beyond. Born in 1989, Salem’s journey began with his graduation with honors in Civil Engineering from Beirut Arab University. His early exposure to entrepreneurship, rooted in his family’s esteemed real estate dynasty established in 1980, laid the foundation for his future endeavors.
Driven by a passion for architectural excellence and innovation, and leveraging extensive experience in consultation, engineering, and real estate market analysis, Salem took the helm of his family’s real estate business. He restructured its operations and transformed it into a thriving corporate entity. Under his leadership, Ohana Development transitioned from a real estate consultancy to a renowned developer of technologically advanced, luxurious, and unique real estate projects.
This transformation marked the birth of the Ohana brand and fueled its meteoric rise, evolving from a local powerhouse to a regional icon in record time. Salem’s vision goes beyond design and construction—he envisions bespoke communities within state-of-theart luxury apartments and villas. Strategically located across key destinations in the UAE, Greece, and the USA, Ohana’s properties are tailored for those seeking comfort, sophistication, and exclusivity. For over a decade, Salem has championed a commitment to quality, ensuring the use of the finest materials and techniques for timeless elegance and enduring value. This ethos extends to premium after-sales services that prioritize residents’ needs, fostering a true sense of community where residents are treated like family.
“The greatest innovators see gaps not as problems but as the starting points for solutions,” says Salem, underscoring his philosophy of turning challenges into opportunities. His vision extends to creating a global Ohana community—a network where members seamlessly experience diverse cultures and locales worldwide. Under his leadership, Ohana Development’s valuation has quadrupled in a remarkably short time, establishing it as a leading luxury real estate provider. Salem’s ultimate goal is to position Ohana among the top five luxury real estate developers in the Middle East and on the global stage.
A recent testament to his visionary leadership is the ELIE SAAB Waterfront by Ohana on Al Reem Island in Abu Dhabi. This marquee residential tower exemplifies Ohana’s commitment to redefining luxury real estate, setting a new standard for design, quality, and community living. The project highlights Ohana’s ability to identify market gaps and develop innovative, highly successful ventures, solidifying its leadership in the luxury real estate market.
Husein Salem’s meticulous planning and visionary outlook continue to guide Ohana Development’s unprecedented expansion and acclaim, turning the company into a beacon of innovation and excellence in the global luxury real estate industry.
Innovation
distinguishes between a leader and a follower.
Steve Jobs, Apple co-founder
Water, Wellness, and SUSTAINABILITY
How GROHE’s Smart Bathroom Innovation Supports Healthcare
In the complex world of healthcare, where hygiene, safety, and sustainability are critical, every element of infrastructure must be delivered with precision and purpose. Through cuttingedge innovation and German-engineered excellence, GROHE is changing the way we interact with water in medical and wellness settings. Supporting this broader commitment is the Heart of Your Bathroom campaign, a long-term initiative that highlights GROHE’s “felt but unseen” technologies. While not exclusive to healthcare, the campaign reinforces the brand’s focus on design, technology, innovation and sustainability values that align closely with the needs of professional care facilities.
While the technical focus of the campaign is on the most cuttingedge innovations, its values are deeply human. It’s about how smart design and innovation can add value to the routines of daily life in settings where tiny efficiencies add up to grand outcomes. In healthcare, those outcomes are reduced risks of infection, improved patient safety, operating efficiency, and environmental responsibility.
“Smart water solutions can play a quiet but powerful role in healthcare,” says Stefan Schmied, Leader, IMEA, LIXIL International. “By combining precision engineering with thoughtful design, we are helping create safer, more sustainable spaces for both patients and caregivers.”
Making Hygiene Automatic and Uncompromising Hygiene in healthcare is not only a necessity; it is an ongoing imperative. The worth of touchless interaction has escalated in the aftermath of worldwide health crises, and GROHE’s response has been prompt and measured. Contactless faucets are no longer a luxury or an amenity; they are now becoming vital tools in preventing infection. Thermostatic mixers have become the mainstay of patient safety, ensuring water is delivered and maintained at the correct temperature to prevent scalding, particularly to those most vulnerable to such risks. These are the quiet protectors in healthcare spaces, keeping people safe through smart design and careful engineering.
Stefan Schmied, Leader, IMEA, LIXIL International
Designing for Dignity and Convenience
In addition to hygiene, comfort and accessibility are vital to the patient, caregiver, and facility manager experience. GROHE designs its products not only for functionality but also with empathy, for individuals with limited mobility, to assist those who are undergoing physical therapy, and to streamline the daily routines of busy healthcare workers. Intuitive controls, ergonomic levers, and user-friendly shower systems are just some of the design elements that promote autonomy for patients while improving workflow for staff. In environments where efficiency can directly impact well-being, these features are not superficial enhancements; they are integral components of care.
Sustainability with Measurable Impact
GROHE’s impact reaches beyond clinical efficiency. The company’s dedication to sustainability is particularly interesting in the health industry, where clinics and hospitals are often among the most resource-intensive within a city. With water usage and operating expenses under ever increasing examination, technology like EcoJoy has been designed to reduce water usage by a significant amount without compromising experience or sanitation. It is this delicate balancing act of preserving performance without loss that is at the heart of GROHE’s vow of sustainability.
In regions like the Middle East and North Africa, where water scarcity is an urgent problem, these innovations carry special significance. The Green Hospital project in Egypt, for example, aims to reduce water consumption by up to 30%, while also lowering disease transmission risk. These initiatives demonstrate that sustainable practices can go hand-in-hand with operational efficiency and public health.
By optimizing consumption without sacrificing performance, these water solutions provide a powerful edge, economically, ecologically, and ethically.
Meeting the Needs of Modern Healthcare
While developing its healthcare-specific portfolio, GROHE has considered the entire ecosystem, from the needs of facility planners to the real-world challenges faced by hospital professionals. The result is a range of products that span sensor-activated taps, concealed cisterns for enhanced appearance and easy maintenance, and showering solutions with variable height to meet different mobility needs. These are not individual innovations but products of a larger vision: a comprehensive water management system that is optimized for high-use, care settings.
What makes GROHE’s approach particularly relevant for today’s entrepreneurs, developers, and healthcare investors is its scalability. The same technologies found in state-of-the-art hospitals and premium wellness centers can be deployed in smaller clinics, outpatient centers, or rehabilitation facilities. This accessibility ensures that the benefits of thoughtful, tech-forward design are not limited by budget or geography. It is an inclusive innovation model that aligns with broader movements toward healthcare equity and infrastructure resilience.
A Vision Unfolding Across Borders
With the Heart of Your Bathroom campaign launch in markets like the UAE, Saudi Arabia, Egypt, Türkiye, India, and South Africa, it’s also pioneering new territory with design-led sustainability as a competitive advantage. Hospitals investing in GROHE technologies are not just replacing gear; they are future-proofing their buildings. They are anticipating tougher regulations, more environmentally conscious patients, and shifting expectations for well-being and care.
Where Healthcare Innovation Quietly Begins
At its core, GROHE’s campaign reflects a deeper truth: that real innovation in healthcare isn’t confined to high-tech labs or surgical breakthroughs. Sometimes, it begins in the most ordinary of spaces. A faucet that doesn’t require a touch. A shower that supports independence. A system that saves water while enhancing safety. These are not simply technical features; they are expressions of care, foresight, and design integrity.
In a world where health systems must balance efficiency with empathy, and technology with trust, GROHE offers a blueprint for how to do more with less, elegantly, quietly, and powerfully. Because in healthcare, every detail matters. And often, the future of wellness starts where we least expect it: in the heart of the bathroom.
In matters of style, swim with the current; in matters of principle, stand like a rock.
Thomas Jefferson
AI guides new generation of Dubai property buyers
Market reports shows AI-driven tools attracting tech-savvy investors ahead of sold-out real estate summit
Dubai’s buoyant real estate market is witnessing a generational shift, with AI playing a key part in attracting a new wave of younger buyers.
A market report released by fäm Properties reveals a steep drop in the average age of buyers over the last eight years - from 54 in 2017 to 44 in 2025 in the off-plan sector, and from 53 to 42 in the ready or re-sale market.
AVERAGE AGE OF DUBAI REAL ESTATE BUYERS IN RECENT YEARS
The shift towards younger buyers is further underlined by real estate transactions so far in 2025, with 36-45-year-olds accounting for 40% of off plan sales and 44% ready and re-sale transactions. Meanwhile, the 2125 age group bought 38.6% and 33.3% more property respectively in the two sectors compared with last year.
The data is from AI-powered platform DXBinteract, a leading source of market intelligence and a symbol of how advanced technology is attracting younger buyers to the Dubai property market, providing insights and data to support their decision-making.
AI technology tracks what buyers are searching for, what matters to them most, and how market patterns are changing, helping investors and buyers, as well as agents, make faster and better decisions.
“In the past, the market was dominated by older investors who relied on experience to make their investments,” said Firas Al Msaddi, CEO of fäm Properties. “But AI and digital tools are making the market more transparent, and educating tech-savvy younger buyers.
“It’s too early yet to rely on AI alone to decide where to invest, and human judgement is still important in a complex real estate market. But AI’s role will grow as the tech develops.”
The impact of AI, big data, and digital innovation on the real estate industry will be highlighted by tech visionary Mo Gawdat, former Chief Business Officer at Google, when he delivers the keynote at the sold-out Game Changers 2.0 real estate summit in Dubai on Friday night.
The event is a sell-out, with VIP tickets going for up to AED30,000. Gawdat will share the stage at the Coca Cola Arena with Al Msaddi and Dr. Mahmood AlBurai, Dubai
Land Department’s Senior Director Real Estate policies and innovation, to address an audience of industry professionals, developers, and tech leaders.
So far in 2025, the 41-45 age group have accounted for the biggest share of total off-plan sales in Dubai - 21%closely followed by 36 to 40-year-olds at 19%
AVERAGE AGE OF DUBAI REAL ESTATE BUYERS IN RECENT YEARS
READY / RE-SALE
The ready or re-sale sector shows a similar pattern, with the 36-40 age group accounting for 23% of all transactions, followed by the 41-45 segment at 21%. However, the younger age groups have recorded by far the biggest year-on-year increases so far, including 26-30-year-olds buying 31.9% more property in the ready or re-sale market.
Dubai enters new phase of real estate maturity
Year on year growth nearly 77%
Dubai’s real estate market continued its upward trajectory in April, with AED 46.18 billion in transactions; a 77.4% year-on-year increase, according to Springfield Properties’ latest market report. Off-plan inventory drove performance, supported by investor confidence in phased masterplans, regulatory clarity, and expanded foreign ownership zones.
This surge reflects more than short-term momentum. It signals a shift in how capital is aligning with Dubai’s long-term urban strategy; with structured developments, trusted developers, and infrastructureled communities driving investor attention.
“Investor behavior is evolving,” said Farooq Syed, CEO of Springfield Properties.
“Off-plan buyers today are not chasing shortterm trades; they’re aligning with masterplanned communities that offer credibility, phased delivery, and predictable resale opportunities”.
New launches in April from Tier 1 developers; including projects in Grand Polo Club & Resort, Dubai Design District, and The Valley, attracted strong demand, backed by flexible payment plans and futurefocused community design.
The secondary market remained steady, especially in established areas like Downtown Dubai, JVC, and Dubai Hills Estate, where buyer interest in completed, title-ready units continued to hold.
Dubai’s population reached 3.93 million in April, up from 3.6 million a year prior - a 9.2% increase that continues to underpin demand across both the ownership and rental segments. This demographic expansion, coupled with job creation and long-term residency incentives, has created stable end-user momentum.
Syed added: “This investor maturity - enabled by stronger regulation, infrastructure integration, and developer trust, is reshaping Dubai’s real estate market into a more resilient and globally attractive ecosystem”.
Rental activity remained active with 29,057 contracts signed, reaching a total value of AED 2.48 billion. Prime villa communities like Al Barari and MBR City
recorded rental price growth of over 4%, highlighting sustained appetite for lifestyle-led housing.
Syed concluded: “We’re entering a phase where investor confidence is increasingly anchored in governance, delivery capability, and urban integration. Dubai’s market is no longer simply growing - it’s maturing, and that distinction matters for capital deployment. The fundamentals are aligning for long-term resilience”.
With forward-looking regulation, deepening market transparency, and demand sustained by demographic expansion, Dubai’s real estate outlook for Q2 2025 remains robust.
Ardee Developments unveils Ardee Al Marjan Island
New project to be built in RAK
Ardee Developments, the newest player in the UAE’s thriving real estate market, has officially launched with the unveiling of Ardee Al Marjan Island — a landmark multipurpose destination and the largest development on Al Marjan Island, Ras Al Khaimah.
Spanning over 2.5 million square feet, Ardee Al Marjan Island is a multibillion-dirham flagship project designed as a vibrant lifestyle community. Blending luxury living with hospitality, retail, leisure, and entertainment, the masterplanned development will feature branded and serviced residences, townhouses, and private villas, along with a luxury hotel, an immersive F&B and retail promenade, and diverse lifestyle amenities — all integrated into a seamless, futureforward coastal environment.
Romeo Abdo, Founder of Ardee Developments, said: “We founded Ardee Developments with a vision to craft spaces that go beyond luxury — communities that offer comfort, elegance, and genuine connection. Ras Al Khaimah’s momentum as a global hospitality and investment hub makes it the ideal launchpad. With Ardee Al Marjan Island, we’re bringing to life a coastal lifestyle anchored in innovation, beachside living, and world-class experiences.”
Vishal Mehta, CEO of Ardee Developments, added: “Ardee Al Marjan Island is more than a development — it’s a sustainable, all-in-one waterfront destination designed to blend living, working, leisure, and community As the first
fully integrated multipurpose project of its kind — and the largest ever on Al Marjan Island — it combines contemporary island living with walkable zones, curated amenities, and immersive entertainment. With panoramic sea views, direct access to pristine beaches, and a focus on quality, detail, and meaningful social connections, we’re setting a new benchmark for coastal communities that deliver long-term value for residents, visitors, investors, and stakeholders alike.”
Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, commented:
“We are pleased to welcome Ardee Developments to Ras Al Khaimah’s premium lifestyle destination Al Marjan Island with the launch of Ardee Al Marjan Island. This dynamic project will no doubt enhance the emirate’s appeal as a sought-after real estate destination and tourism spot. Integrated developments like this are central to realising our vision of curating sustainable, high-quality communities that appeal to global and local tourists, investors and residents seeking an elevated lifestyle.”
Seamlessly blending unique topography with world-class facilities, Al Marjan Island continues to draw discerning investors and residents on the lookout for exclusive immersive experiences.
Thoughtfully designed to embrace modern island living, Ardee Al Marjan Island will offer interactive green spaces, pedestrian-friendly boulevards, and a full spectrum of wellness, leisure, and retail experiences. The community will feature direct beach access, panoramic sea views, and a strong connection to the natural coastal landscape. Residents and guests can enjoy curated dining, world-class hospitality, wellness zones, and unique attractions including family entertainment, gaming experiences, and waterfront activities — all within one immersive setting.
With a strong focus on sustainability, smart technology, and resilient infrastructure, Ardee Al Marjan Island is built for the future — a vibrant, all-encompassing destination that redefines high-end island living.
Q1 2025 sees Dubai’s ready property sales soar to record levels
Property
Finder data shows major rises
Q1 Insights from Property Finder, the MENA region’s leading property portal, reveal a bullish UAE real estate market with both Dubai and Abu Dhabi experiencing a robust start to the year - for different reasons.
Dubai achieved historic highs in both the number and value of transactions, recording its strongest first quarter performance in more than a decade. The city recorded 45,474 transactions worth AED 142.7 billion reflecting a 22% increase in volume and a 30% increase in value compared to the same period in 2024. This surge was driven primarily by record activity in off-plan sales and existing property transactions.
Indeed, off-plan sales accounted for 56% of all transactions in Dubai, climbing to 25,440 transactions, representing a 24% YoY increase, with a value of AED 55.2 billion, up from AED 44.5 billion in Q1 2024. The ready market also delivered a breakout performance, with 20,034 transactions worth AED 87.5 billion, marking a 21% increase in volume and a 34% surge in value. This is the highest-ever quarterly results for this segment.
Dubai’s numbers reflect sustained demand from both endusers and investors, likely supported by a growing shift from renting to owning, as rising rental prices increasingly push residents to explore homeownership opportunities.
Meanwhile, Abu Dhabi saw a surge in the ready property market, posting a 9% increase in volume and a 75% rise in value, led by large commercial deals and rising demand for completed homes. Residential ready transactions were up 5% in volume and 33% in value, signalling buyer preference for move-in-ready options.
Key insights included:
Off-plan Market:
Dubai:
> Dubai’s real estate market continues to rank among the top-performing markets globally, with Q1 2025 witnessing a significant surge in total sales transactions. With 45,474 transactions achieved reflecting a 22% YoY increase, the total value rose by 30%, hitting AED 142.7 bn; the highest volume of transactions for a first quarter ever recorded.
> In Q1 2025, Dubai’s off-plan market recorded its highest first quarter performance in a decade, with off-plan sales accounting for 56% of total transaction volume. The number of off-plan transactions reached 25,440, up from 20,557 in Q1 2024, reflecting a 24% year-on-year increase, driven by strong long-term confidence among medium- and long-term investors.
> In terms of value, the off-plan segment also witnessed remarkable growth, with a 24% increase year-on-year, reaching AED 55.2 bn compared to AED 44.5 bn in Q1 2024. This represented 39% of the total transaction value in Q1 2025, highlighting the continued attractiveness of Dubai’s future development pipeline
Abu Dhabi:
> The Abu Dhabi real estate market registered approximately 2,496 transactions, with a total transaction value amounting to AED 9.6 bn.
> Abu Dhabi’s off-plan market in Q1 2025 recorded approximately 1,332 off-plan sales transactions, with a value reaching AED 4.9 bn.
Existing/Ready Property Market:
Dubai:
> A new quarterly record was set, surpassing the average quarterly volume and value of 2024, with volume exceeding the 2024 average by 12% and value by 19%, reaffirming that Dubai’s real estate market continues its strong positive momentum into 2025.
> Existing property related transactions showed a YoY increase of 21% in volume, with approximately 20,034 transactions with a total value of AED 87.5 bn. Transaction value surged by 34%, compared to AED 65.3 bn in Q1 2024
> Ready property transactions made up nearly half (44%) of the total sales transaction volume.
Abu Dhabi:
> Abu Dhabi’s existing/ready market in Q1 2025 recorded 1,164 transactions, accounting for approximately 47% of total transactions, compared to 1,066 transactions in Q1 2024.
> Existing property transactions contributed to 49% of the total transaction value, reflecting a notable growth of 9% in volume and a significant 75% increase in value compared to the same period last year. By volume, they represented 47% of total transactions.
> Residential transactions made up 88% of the total existing market volume and 60% of total value in Q1 2025, with the remainder attributed to commercial and other uses. Compared to Q1 2024, residential-ready transactions saw a 5% increase in volume and a 33% rise in value, indicating sustained demand for completed properties.
Cherif Sleiman, Chief Revenue Officer, Property Finder commented, “This year remains strong, particularly in Dubai where investor confidence in long-term capital appreciation remains high. Abu Dhabi’s evolving buyer behaviour shows growing interest in quality, ready-to-move-in homes. From an international perspective, global policy shifts and the depreciation of the dollar are creating heightened interest in UAE real estate investment opportunities.
Overall, the UAE continues to be a reliable, and globally competitive real estate ecosystem, supported by initiatives such as the Dubai Real Estate Alliance by the Dubai Land Department (DLD) that brings together public and private sector partners. In parallel, DLD’s partnership with the Virtual Assets Regulatory Authority (VARA) to link the Emirate’s real estate registry with property tokenisation, enables fractional ownership of assets and is a major step towards allowing a broader base of investors to enter Dubai’s market.
Together, these developments are helping build a smarter, more inclusive and investment-friendly property market.”
All we have to decide is what to do with the time that is given us.
John Ronald Reuel Tolkien
THE YEAR JUST KEEPS GETTING BETTER FOR REAL ESATE
In January 2024, I asked someone who is generally right about everything whether the Dubai real estate bubble would burst anytime soon. Given he was a well-known property developer, his opinion counted all the more.
“We have maybe six months then it’s going to start dipping,” he told me in reference to prices, adding: “If you have a property, my advice is sell.”
Eighteen months later, the reality continues to defy any prediction. The Dubai real estate sector recorded AED22.94bn ($6.25bn) of transactions in the last week of May, according to data from the Land Department. Sales transactions dominated the figures, with AED18.39bn ($5bn), in total there were 4,638 sales transactions recorded between May 26 and May 30.
And we are talking about some big deals: Among the most expensive sales transactions listed on the Land Department website were an apartment in Jumeirah Residences Asora Bay in Jumeirah sold for AED163.8m ($44.6m); an apartment in Jumeirah Residences Asora Bay in Jumeirah sold for AED143.6m ($39.1m); an apartment in Jumeirah Residences Asora Bay in Jumeirah sold for AED121.2m ($33.1m).
Yes, all three are in the same development, but overall, the Land Department also showed mortgage deals worth AED3.47bn ($944m) in the last week of May.
And on a macro level, the mega deals keep coming. Binghatti acquired a massive amount of Nad Al Sheba land for $6.9bn master-planned residential community. MAG Group and CITIC Limited signed a $6bn deal. I could list another ten similar announcements.
But you get the picture. Every expert I know, including some hugely influential developers, were privately predicting anything from a correction to a downturn, or even a fullblown crash.
None of that happened. So far, 2025 is proving to be the year one of the greatest years ever for Dubai real estate.
Anil Bhoyrul
We have maybe six months then it’s going to start dipping; if you have a property, my advice is sell.
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