(AFP) – After a six-year slump, Dubai’s real estate market is taking steam amid the rush of wealthy foreigners to the Gulf, which is escaping locking and other health restrictions and reviving the economy.
Luxury villas, if possible with a golf course, are the best shopping and many Europeans are setting their sights on an artificial island Palm Jumeirah in the shape of a palm tree.
Although magnified homes and gigantic towers usually appear on Dubai’s “skyline” in one of the region’s largest real estate markets, many properties have not found buyers until now, and have been in the industry since 2014.
Closing the border due to the Govt-19 epidemic halted sales, “but we saw an increase in the volume of transactions as soon as it was controlled.
Unlike others in the Gulf, Dubai, one of the seven members of the United Arab Emirates,’s economy is not based on black gold, but on tourism, trade, finance and real estate, which account for more than 7% of GDP in…