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The persistent real estate boom in the UAE and the attraction of foreign buyers and ultra-high-net-worth individuals and family offices is still the dominant topic around the UAE in the foreign press.
#1- Aldar Properties is seeing a surge in demand for homes in Abu Dhabi, largely driven by foreign buyers, which now make up 30% of its sales, up from 11% in 2021, Chairman Mohamed Al Mubarak told Bloomberg. The emirate will need to boost its hotel rooms by 60% to accommodate rising demand, especially in the summer months, adding some 20k hotel rooms within the next five years, up from around 33k rooms currently, he estimates.
#2- Deutsche Bank’s Head of Emerging Markets Wealth Management Marco Pagliara attributed Duba’s appeal to ultra-high-net-worth individuals (UHNWIs) and family offices to geopolitical shifts and a diverse influx of residents, he told Bloomberg in an interview.
Family offices are increasingly interested in direct investments, particularly in AI, but finding sustainable opportunities is a struggle, according to Pagliara. Despite this, the broader regional focus is shifting away from oil dependency.
ALSO GETTING INK- A pack of Argentine Patagonian maras has been spotted at Al Qudra Lakes near Dubai, where they have thrived for several years, with estimates suggesting up to 200 in the area. (AP)
