Known for its luxurious, high-on-amenity properties, Dubai’s real estate segment has become increasingly competitive, creative, and enticing for investors worldwide. In 2018, a positive shift was witnessed by the country’s realty market. The sector underwent a major revamp with relaxed laws for foreign investors, new initiatives to drive investments, and new project announcements. Looking at the past trends and an in-depth data analysis, 2019 looks optimistic for the real estate companies in Dubai, property developers in Dubai, as well as prospective investors.
While traditionally luxury has been associated with all things handcrafted, this conventional belief is increasingly being challenged by technology. A different kind of luxury – one that spells comfort, class, and connectivity as never experienced before – is being offered by sophisticated virtual assistants, self-driven cars, and an entire IoT-led personal ecosystem.
This change is being fueled by the icons of ultimate luxury – contemporary residences, with the global smart home devices’ industry currently valued at USD 54 billion. In fact, the smart home systems’ market in the Middle East alone is expected to grow at a CAGR of 28.30%.