This time, Dubai’s property market can turn out to be recession-proof

This time, Dubai’s property market can turn out to be recession-proof

I recently had the pleasure of exchanging ideas with a number of investors and entrepreneurs anxious about a potential recession in the West. Investment concerns have also been voiced in relation to Dubai, giving rise to doubts in the minds of many. My conversations with these stakeholders have prompted me to conduct extensive deliberations so that we could set the record straight. While some economists’ projections make sense from a global perspective, Dubai’s real estate figures do not reflect the same sentiment. In fact, the evidence suggests that the city’s real estate industry has been thriving—properties continue to be red-hot and investments are on the rise. Despite anxieties surrounding a potential global recession, one anomaly stands out: Dubai. This incredibly prosperous city appears to be recession-proof, having been largely insulated from the economic turmoil that has affected other parts of the world in recent times. With exciting development and infrastructure projects in the works such as District 2020 and Palm Jebel Ali, and ever-expanding opportunities for foreign investment and employment, Dubai continues to attract attention even in financially uncertain times. Far from being hindered by economic hardship, it is plainly testament to its resilience that Dubai ranks amongst the most