Weekly Roundup 28.01.22

As the first month of 2022 draws to a close, we think it’s fair to say that Dubai Property Market performance is off to a flying start! We have reflected on this, in the latest episode of our podcast ‘Taking Care of Business’, as we discussed our 2022 Property Market predictions. 

Episode 35 - The World Has Gone Mad -

Along with our 2022 Property Market predictions, we also weigh in on the many controversial topics dominating the headlines this week, from Novak Djokovic to Joe Rogan! Hear what we have to say, by listening now on; Apple Podcasts, Google Podcasts, Spotify, TuneIn, PocketCasts, Stitcher, Omny or iHeartRadio.

News that caught our attention this week;

Legal Gaming in the UAE:

This week, the world renowned Las Vegas Hotel operator, Wynn, announced its plans to open a 1,000 room hotel, in Ras Al Khaimah, by 2026. The mega resort will feature ten restaurants, a convention centre, and most notably, a gaming area! Wynn and RAK Tourism are yet to define what the term ‘gaming’ will look like, but what we do know is that the project will undoubtedly create opportunities across numerous sectors, boosting the economy, and strengthening the UAE’s position as the world’s number one tourism destination. Roll on 2026! 

Dubai - Winner of the Travellers’ Choice Awards for 2022:

Dubai’s efforts to reopen safely, and navigate tourism successfully in the aftermath of global lockdowns has been recognised this week, as TripAdvisor crowned the city it’s ‘number one global destination’, in their Traveller’s Choice Awards for 2022. This is a testament to Dubai’s ability to evolve and adapt, and reinforces our confidence in Dubai’s economic prosperity for 2022 - and beyond! 

Dubai’s price growth for Luxury Property is ranked 3rd globally

Data released this week has revealed that Dubai recorded the third highest price growth for luxury property, globally. Dubai’s luxury property sales rose by 6.9% in 2021, and are set to continue on an upward trajectory throughout 2022. This demonstrates the confidence that high net worth individuals have placed in Dubai’s resilient economy, and reaffirms the strength of economic recovery in Dubai, post lockdown.  

Developer Sales on the rise

Off Plan transactions made up over 60% of sales in Dubai in 2021. With this in mind, we have forged great partnerships within the Developer market, and are looking forward to many successful launches this year. Take a look at our latest video featuring our Developer Sales team, in the impressive SLS Hotel & Residence, Business Bay; 

As always, our inboxes are open! Please get in touch with us if you would like any more information on the topics above, or the property market in general! Click to WhatsApp our Client Concierge: https://wa.me/97144294444 or email us at info.uae@allsoppandallsopp.com