Dubai property mkt lures bargain hunters despite W Asia situation

Industry experts expect slowing investment amid market correction

- PRACHI PISAL

Dubai’s residential property market is continuing to attract buyers despite the fragile situation in West Asia, with some investors viewing the recent correction in prices as a buying opportunity rather than a reason to stay away.

Industry executives and property consultants say geopolitical tensions have introduced caution and slowed investor activity. However, they do not see a structural breakdown in Dubai’s housing market. Instead, they point to selective buying by investors seeking discounted assets amid a market correction.

Gulam Zia, international partner and senior executive director at Knight Frank India, said, “While geopolitical tensions in West Asia have introduced some caution in its real estate market, the impact is more sentiment-led than structural. We are seeing selective interest from global, capital-rich investors who view the current phase of price moderation as a tactical entry opportunity.”

Amit Goenka, chairman and managing director (MD) of Nisus Finance, said the market was witnessing “two distinct tracks running simultaneously.” While investor activity has slowed and the number of investors has shrunk, “high net worth individuals (HNIs) are optimistically buying discounted ready and off-plan projects from larger players,” he said.