• UAE prime real estate will be a key catalyst in driving D33’s FDI target of AED 650 billion

Dubai, UAE: Unique Properties, one of Dubai’s leading real estate agencies, expects the emirate’s prime real estate segment to accelerate the achievement of the UAE’s recently unveiled D33 vision. On average, property prices in the cosmopolitan city increased by around 9.5% last year; villa prices rose by 12.8% and apartment prices grew by 9%. D33 is set to simultaneously strengthen the country’s post-pandemic real estate momentum, support its return to normality, and position Dubai among the top four financial hubs in the world via 100 transformational projects.

HH Sheikh Mohammed bin Rashid Al Maktoum unveiled D33 earlier this month, on the day of his 17th anniversary as Vice President and Prime Minister of the UAE. Under his leadership, the country and its emirate have respectively blossomed into leading global destinations. The newly launched D33 strategy aspires to boost this progress further by doubling the size of Dubai's economy by 2033. Foreign Direct Investment (FDI) will be a key catalyst in increasing the annual average of AED 32 billion over the past ten years to AED 60 billion in the next decade so that a total of AED 650 billion is ultimately achieved.

With overseas investors reportedly purchasing 75% of properties in Dubai, Unique Properties predicts that the sector’s prime segment will be a key contributor to the realization of D33. The regionally-founded brand observed significant growth across the prime real estate segment in 2022 and cites that Palm Jumeirah registered the highest sales rate with per-square-foot pricing being valued at AED 2,324 for apartments and AED 3,921 for villas; a notable purchase in the Palm Jumeirah area included Riva Del Lusso, which sold for AED 130 million.

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, UAE HQ, commented: “Average price rate and overall demand growth are poised to remain positive in 2023. Dubai’s prime real estate segment will increasingly be sought out by foreign investors due to the attractive returns it offers in comparison to other top cities in the world. This will ensure that D33 comes to fruition, and potentially faster than expected. We are striving to complement HH Sheikh Mohammed bin Rashid Al Maktoum’s forward-thinking vision by catering to these incoming expatriates, while continuing to provide the bespoke services that we have been to our existing clientele over the last 15 years.”

A lower cost of living and inflation last year, as well as the dirham’s increased strength against foreign currencies, and the UAE’s strong economic influence, saw it recently ranked as the most powerful country in the Middle East and the ninth worldwide. This upward trajectory is also contributing to accelerating the D33 agenda by driving further foreign investment into the country and its real estate sector. Unique Properties’ extensive market knowledge is set to continue steering several transactions across Dubai’s residential off-plan segment; the full-service award-winning agency facilitates resale property, sales and commercial, and rental transactions with international expert teams.

About Unique Properties:

Established in 2008, Unique Properties, one of Dubai’s leading real estate agencies is headquartered in Dubai, UAE. As a multi-award-winning real estate company, it is one of the most reputable in the region. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of premium hand-picked, off-plan projects and ready properties for sale and leasing. In 2021, Unique Properties contributed 4.5% to Dubai's total “off-plan” sales volume and around 1% to its overall real estate economy, which recorded transactions worth $ 82 billion (AED 300 billion). Through its multilingual and experienced consultants, Unique Properties provides reliable and exceptionally tailored real estate investment solutions to clients. Learn more about Unique Properties at https://www.uniqueproperties.ae/en/