Weakening dirham lures foreign investors to UAE

Property buyers from UK, Europe and India save millions of dirhams as acquisition costs drop

- Waheed Abbas

Dubai's booming real estate market has become even more attractive to foreign investors, as the UAE dirham has weakened against major international currencies such as the British pound, euro and Indian rupee.

This currency shift has significantly reduced property acquisition costs for buyers from the UK, Europe, and India— potentially saving them millions of dirhams compared to earlier this year.

According to John Lyons, managing director at Espace Real Estate, the depreciation of the US dollar, to which the UAE dirham is pegged, has played a key role in making Dubai real estate more affordable for international buyers.