Experiencing Exclusive – The Dubai Way

By Alessandro Console

It’s always a special experience seeing Dubai for the first time. Upon arrival, you are greeted with bright smiles and friendly faces. Though you haven't stepped outside yet, you already have an idea of what awaits you. But, once you hit the road, the iconic skyline, towering structures, luxury cars gracing the streets, and the vibrant radiance hits you more than you initially expected.

In the distance, the Burj Khalifa, the world's tallest building, stands as a testament to extravagance. Furthermore, Dubai boasts various Guinness World Records for feats of scale and grandeur, such as the deepest indoor pool and the largest fountain display. These remarkable achievements never fail to take tourists aback.

Beyond the initial awe, visitors are always amazed by the UAE’s openness to individuals from all walks of life. It’s a melting pot for all nationalities who work or visit and many tourists who come to Dubai for the glitz and glam end up making it their permanent home, pursuing the "Dubai Dream". Today, it ranks globally as the 6th best city to live and work in for the year 2024, and this is reflected in the real estate market, as a saturation of buyers from Russia, Ukraine, China, India, and the UK seek the coveted Dubai lifestyle, which often starts with ownership of property.?

What to expect in 2024

When purchasing property in Dubai, there is no denying that you’re getting your money’s worth. When comparing the lifestyles, standards of living, and overall quality of life with some of the world's most renowned and upscale cities like London, New York, or Los Angeles, Dubai deserves a place in that discussion.

The city's technological advancements surpass those of many others, propelling it into a scene from an epic sci-fi movie. Additionally, Dubai thrives as a “convenient city”, ensuring swift services within 15 minutes of placing an order. The city is meticulously designed to attract expats, catering to their needs and preferences.

It's no wonder why the first nine months of 2023 saw 116,116 new property transactions, totaling DH429.6 billion or $117 billion. The demand is expected to continue from international investors and local residents seeking to capitalize on Dubai’s flourishing real estate market.

But for investors and non-investors alike, Dubai isn’t simply more affordable than New York and other places around the world, it also offers leisure spots that are very accessible and renowned for their incredible hospitality and services. Some would even argue that Dubai excels in selling luxury more effectively than most other cities.

Looking for the lowdown on why so many investors are buying luxury property in Dubai? I’ve got you covered:?

Security: For families relocating to a new city, the most common consideration is searching for safe neighborhoods. In this case, Dubai is renowned for its safety, making it an ideal destination for families. The low crime rate and open hospitality contribute to the city's secure environment.?

Tax-free: There’s no denying the question of taxes when it comes to investment. There’s always the question of how one can minimize the amount of taxes to pay. However, the UAE is tax-free. 100% tax-free, including no property taxes and income taxes.

Strategic location: Dubai may have come from the humble beginnings of being a fishing setttlement, but it has blossomed into a thriving metropolis that is strategically placed at the crossroads between Asia and the Middle East while also being in close proximity to Europe. Dubai's strategic location makes it an attractive hub for entrepreneurs and a great place to build and expand a professional network.?

Technological innovation: Dubai takes the lead in integrating technology into major developments, with the UAE as a whole pioneering sustainability efforts, notably showcased when Dubai hosted COP28 in 2023. Besides leading green initiatives, part of the luxury experience is riding a Tesla taxi to get to your destination! Final thoughts?

Dubai balances both the journey and the destination, offering not just an extraordinary lifestyle but also a guaranteed return on investment for investors. As the UAE introduces more initiatives, Dubai's appeal is set to attract more visitors who see it as not just a destination, but a new home.

Real estate developers are responding to the growing demand by creating unique luxury housing projects that boast high-end finishes for an unparalleled lifestyle. The investment landscape in Dubai goes beyond financial considerations, offering a holistic experience of working, investing, and building a future. It's a place where lifestyle matters, from what you wear to the car you drive—essentially, you are your personal business card. Even a simple trip to the grocery store requires dressing to impress in this exceptional city. You never know where you’ll run into an international celebrity.?

The best way to immerse yourself in Dubai’s extravagant lifestyle is by purchasing property. Not only will you see a generous return on your investment, but you will also begin to be part of an exclusive community that attracts thousands of people from all over the world.