BUSINESSSEMAFOR
Ultra-rich pull back from Dubai real estate
The ultra-wealthy are reducing investments in Dubai real estate due to the Iran war, causing a 54% drop in high-value home sales in Q2 compared to Q1. Dubai's tax-free status and residency visas previously attracted buyers from China, Europe, India, and Russia, but demand is now cooling across all property segments. Developers are slowing project timelines and announcing fewer new developments.
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