Whether you’re looking to invest, or just curious, enjoy these insights into the Dubai real estate market from Artur Oganesian, Dubai Real Estate Expert.
What is your professional background and how does it give you insight into the real estate market in Dubai?
My professional journey has been quite diverse, initially starting in Sales and later transitioning into IT Product Management before finding my passion in real estate. This unique blend of experiences has equipped me with a multifaceted understanding of consumer behavior, market dynamics, and technological trends. In Dubai’s real estate sector, this background allows me to discern patterns, anticipate market shifts, and leverage technology to offer innovative solutions to clients.
In your experience, what are some changes in the market you have noticed over the last five years?
Over the past five years, Dubai’s real estate market has undergone notable transformations. We’ve witnessed a shift towards more sustainable and eco- friendly developments, branded projects, an increased emphasis on community-centric living, and a growing integration of advanced technologies such as AI and blockchain in property management and transactions. Additionally, regulatory reforms aimed at enhancing transparency and investor protection have significantly shaped the market landscape.
How do you think the market in Dubai will change in the next five years?
Looking ahead, the Dubai real estate market is poised for further evolution driven by factors such as Expo 2020’s legacy, continued infrastructure development, demographic shifts, and the adoption of smart city initiatives. I anticipate a greater focus on affordable housing solutions, sustainable urban planning, and digitalization across the sector. Moreover, the market is likely to witness increased diversification in offerings, catering to evolving consumer preferences and lifestyle trends.
What makes the Dubai real estate market unique?
The Dubai real estate market stands out globally for its dynamic nature, offering a unique blend of luxury, innovation, safety and cultural diversity. Its strategic location as a global business hub, coupled with a favorable regulatory environment and world-class infrastructure, attracts investors and residents from across the globe. And of course Tax freedom is a cherry on the top. Furthermore, Dubai’s commitment to visionary urban planning and iconic architectural landmarks contributes to its allure as a premier real estate destination.
What other cities around the world do you think have similar opportunities or concerns?
While Dubai remains distinctive in many aspects, several cities around the world share similar opportunities and concerns in the real estate realm. Cities like Singapore, Hong Kong, and London boast vibrant real estate markets driven by strong economic fundamentals, global connectivity, and cultural diversity. Conversely, concerns such as affordability, sustainability, and regulatory stability are shared challenges faced by major metropolitan centers worldwide.
What projects in particular are you looking forward to seeing develop?
There are several exciting projects on the horizon in Dubai that I am eagerly anticipating. Among them are Damac Lagoons, Palm Jebel Ali, Dubai World Islands, Dubai Creek Harbour, Mohammed Bin Rashid City, and Dubai South present compelling opportunities for pioneering urban developments that will redefine the city’s skyline and lifestyle offerings. You can find Artur at linkedin.com/in/oganesianam.