Dubai’s potent lure: the reality behind the real-estate frenzy

Dubai is attracting a significant number of high-net-worth individuals from the US, Europe, and UK, including bankers, hedge fund managers, lawyers, accountants, and entrepreneurs, who are drawn to the city's modern facilities, business-friendly environment, and tax incentives. Aidan Doyle, an estate agent, has seen his income increase from £30,000 to £500,000 in just three years by acting as a representative for buyers and sellers. The city is also popular among celebrities, with Roger Federer and Cristiano Ronaldo owning expensive homes there. According to Knight Frank, Dubai saw more property sales worth $2.5m to $10m than any other city globally last year, including New York, Los Angeles, Hong Kong, and London. This trend is driven by the city's ultra-modern infrastructure, state-of-the-art hospitals, and favorable business environment. The influx of wealthy individuals has also led to a significant increase in property prices.

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