Despite continuing reports of slowing demand and weak oil prices, Dubai is still attracting a lot of interest from the ultra-rich. Reports around the world have ranked the city as one of the top 50 destinations that the wealthiest are most attracted to.
The study into the buying habits of those with a net worth of more than $30 million or more show that Dubai is the most desirable city in the Arab world for buying apartments and villas.
Property experts say that Dubai’s top infrastructure, facilities and cosmopolitan lifestyle are key contenders for drawing the investors in.
“Dubai remains an appealing investment destination for regional investors due to its central location, shared religious and cultural values and cosmopolitan lifestyle, world-class infrastructure and a broad range of facilities for business and tourists” said Okbah Abdulkarim, COO of Artar Real Estate Development.
According to Artar Real Estate, Dubai’s prime locations, such as its downtown district, are very attractive to potential investors from Saudi Arabia and other countries in the Gulf Cooperation Council region who want both traditional and multicultural worlds.
“We have not experienced reduced enquiries due to oil prices as our property appeals to a wide range of end users and investors. We are not reliant on the type of buyers affected by the drop in oil revenue,” Abdulkarim added.