Skip to content Skip to Search
Skip navigation

Millennial investors hiking property prices for Dubai expats

By Shruthi Nair

Dubai is seeing a “big rise” in millennial investors looking for luxury properties.

“A lot of rich people are investing in Dubai, which is why we see villas being sold for $50 million to $100 million,” said Rizwan Sajan, founder and chairman of Danube Group in an exclusive video interview with AGBI.

“There are a number of people coming to Dubai because of the crisis across the world.”

But the influx in tourists, investors and residents has led to prices going up rapidly. Average rents in Dubai increased by 27.7 percent in the first two months of 2023, according to real estate group CBRE.

In February alone, Dubai’s property market saw 8,515 transactions, a 43.9 percent increase from 2021. 

With Dubai becoming a playground for millionaires, will the city become unaffordable for its expatriate residents? Watch the full video to find out. 

Latest articles

Mark Foster, who played professional rugby for Gloucester and now heads LIV Golf, says the sport is ripe for investment

LIV Golf chief says rugby next in line for Gulf funds

Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […]

Dubai mall Lamcy Plaza

Fire-hit Dubai shopping mall fails to attract auction bids

A Dubai shopping mall closed since a fire in 2017 has failed to attract interest from potential buyers after being put up for auction. The Lamcy Plaza mall went on auction earlier this month with a starting bid of AED200 million ($54 million), but received no offers. The five-storey neighbourhood mall, which opened in 1997, […]

Aircraft, Flight, Transportation

Emirates to resume Nigeria service from October

Emirates will restart services to Nigeria from October 1, after suspending flights on the route for almost two years. The Dubai airline will operate a daily service to  Lagos, Nigeria’s largest city.  “We are excited to resume our services to Nigeria,” said Adnan Kazim, deputy president and chief commercial officer, Emirates.  “We thank the Nigerian government for their partnership and support in re-establishing this […]

Agility has developed more than 1 million sq m of land, warehousing and logistics infrastructure in Saudi Arabia

Earnings at Kuwait’s Agility rise 22% to $61m in 2024

Kuwait-based logistics specialist Agility said first-quarter 2024 earnings rose 22 percent year on year to KD18.7 million ($61 million) Revenue increased nearly 5 percent year on year to KD336 million, the company said in a statement published on Boursa Kuwait. The company reported an operating cash flow of KD26 million for the first quarter. Assets stood at […]