• Dubai's smart home market is projected to see CAGR of over 15% by the end of 2024
  • 81% of luxury agents globally in recent years reported that clients seek smart homes

Dubai, UAE : Unique Properties, a leading real estate agency located in Dubai, has noted a compelling trend in the preferences of luxury homeowners, highlighting the theme of smart homes as the epitome of modern opulence in architecture and interior design. This prestigious agency underscores that, amid the evolving real estate landscape, the UAE's property sector continues to thrive with a particular focus on luxury residences. Furthermore, the burgeoning appetite for a holistic luxury living experience in Dubai's market is captivating the attention of international investors and end-users alike.

The luxury real estate industry is ever-evolving as affluent individuals seek properties that push the boundaries of living spaces and developers are ramping up their efforts to modernize offerings and align with country-wide mandates such as UAE Net Zero 2050 and the Dubai 2040 Urban Masterplan. While noteworthy real estate transactions have showcased a profound appreciation for architectural prowess, such as the acquisition of the "Marble Palace" in Emirates Hills which is adorned with 700,000 sheets of gold leaf, today's investors and buyers are in pursuit of more than just extravagant materials.

With rising demand from wealthy individuals seeking residences with abundant amenities, the smart home market in the UAE is receiving increased interest from investors and buyers alike; this segment is growing by a compound annual growth rate (CAGR) of 11.13% and is anticipated to resulting in a projected market volume of $113.8 million by 2028. This promising outlook is due to a surge in demand for smart home technology which is being driven by the UAE's focus on innovation and luxury living.

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, commented: “Dubai is set to welcome 4,500 new millionaires this year, further cementing its status as not only a prime destination for luxury real estate but also the top-most choice surpassing major players like New York and Paris. To keep leading this dynamic market, it is crucial to remain attuned to emerging trends and strategic enhancements that distinguish properties with an unmistakable touch of luxury - while elevating the UAE’s overall stature and reinforcing Dubai’s position as an unparalleled city.

Historically and consistently, luxury real estate buyers and investors globally have demonstrated evolving preferences in their quest for living spaces. A trend that has become increasingly evident is the shift towards modern and technology-integrated homes with contemporary interiors. Buyers are drawn to new constructions featuring open-concept floor plans, and futuristic features. The demand for smart home automation has been a prominent global trend in recent years; before the pandemic, 81% of luxury agents reported that their clients were seeking smart homes with features like voice-activated technology and energy-efficient features. As the real estate landscape continues to evolve, developers must meet this ever-growing demand, ensuring a harmonious blend of luxury and innovation for discerning buyers.”

Amid the impressive projected 11.73% annual growth rate (CAGR 2022-2027) in Dubai's burgeoning smart home market, a rapidly expanding industry with substantial future potential, Unique Properties stands as a noteworthy player. With a wealth of global knowledge, exceptional industry experience, and a keen awareness of evolving trends, they play a pivotal role in assisting individuals in making informed and sustainable investment choices. Their expertise offers invaluable insights into this thrilling transition, which seamlessly aligns with Dubai's overarching aspiration to evolve into a futuristic city.

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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 2022, Unique Properties contributed 2% to the total “off-plan” sales volume of Dubai and around 1% to the overall real estate sales in Dubai.  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/

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E-mail: uniqueproperties@atteline.com