The UAE Luxury Real Estate Sector will experience strong growth in the coming years. It is because of the rise in high-net-worth individuals moving to the country.
According to industry experts, the UAE will see a 24.6% increase in the high-net-worth individual population growth in 2025. It will affect the ultra-luxury property segment.
Ujjwal Goel, Director of boutique developer Teraciel Group , believes developers will play a key role in meeting this growing need for luxury homes. “Dubai has firmly established itself as a global luxury hub. The influx of wealthy individuals reinforces the emirate’s appeal as a top investment destination,” he said.
Dubai already ranks fifth globally for highest-value home sales over $25 million in 2023. “Through innovative designs and technologies, developers can cement Dubai’s luxury standing and fuel the economy,” added Goel.
Currently, prices of villas and penthouses in premier areas like Palm Jumeirah and Emirates Hills are at all-time highs due to limited supply. Industry reports forecast values rising by 5% next year as investors are drawn to the market.
Another hotspot is the new Dubai Hills development where Teraciel’s luxury project, The Imperial, set a record for the highest price per square foot for a non-golf residence last year. The influx of high-net-worth individuals is thus expected to propel Dubai’s luxury real estate sector to greater heights.
