Dubai's property boom, sky-high prices and a new skyscraper in the works

Dubai’s red-hot property market continues to make headlines: CNBC is the latest to spotlight Dubai’s surging real estate market in a recent interview (watch, runtime: 01:45) with Damac Properties’ founder Hussain Sajwani. Sajwani thinks prices have risen to what he calls a “comfortable level” since the pandemic, fueled by strong demand from European buyers, and expects them to continue rising reasonably — within the 5% range.

Prices soar — skyline follows suit: British tabloid Metro also took note of Azizi Developments’ planned Burj Azizi, which is set to become the world’s second-tallest skyscraper by 2028, standing at approximately 2.4k ft at a total investment ticket of GBP 1.15 bn. Sales for Azizi Developments’ 131-story tower called The Burj Azizi will go live in February.