- UAE’s real estate market to reach an astounding value of AED 2.6 trillion by the end of 2024
- HNWIs playing a key role in overall sector growth with strong interest in luxury properties
Dubai, UAE, – 06 June 2024: With the UAE’s real estate market continuously prospering, the requirement for industry specialists becomes more of a necessity for key players looking to expand their services in this very competitive market. According to data analytics online platform, Statista, the UAE real estate market is anticipated to reach a value of just over AED 2.6 trillion (2.6057) by the end of 2024, with high-net-worth individuals (HNWIs) playing a key role in this surge, driven by their interest in luxury property investment.
In the first three months of the year, 105 luxury homes were sold in Dubai, bringing it closer to matching the record 431 transactions of homes worth more than US$10 million last year, and outperforming top prime markets such as New York and London.
The increasing influx of wealthy individuals coming into the UAE and in particular Dubai, has been a consistent growing trend, whereby the city is projected to see a 24.6 per cent increase in HNWIs by 2025, in turn taking both the ultra-luxury segment and overall real estate market to yet another level of prosperity.
The increase in real estate supply makes it vital for developers to ensure a level of perfection is achieved in every detail of their developments as they aim to provide investors with the very best product offering.
Headquartered between the dynamic regions of Asia Pacific and the Middle East, Origin Private Office has recently announced its establishment as the leading ultra-prime private office service provider to meet the continuously growing demand of regional and international investors. One of the strongest markets for the newly found organisation has been Dubai, driven by its lifestyle, favorable business environment and forward thinking Government initiatives.
Founded by a trio of industry experts with enviable achievements, Origin’s team is led by Ross Savas, Georgina Atkinson, and Scott Tanner. Each respective partner brings over a decade of experience with collective track records of excellence – most notably in the ultra-prime real estate sector. Origin have chosen Dubai as one of their key markets to operate within, given the city’s prosperity and tremendous future potential, particularly within the real estate sector.
Georgina Atkinson, Managing Partner – Origin Private Office commented: “We have seen the regional real estate market witness continued growth with the Dubai real estate market proving to be the leader when it comes to sales volume and surging price growth. In the ultra prime segment of the market, we have seen significant demand from both regional and international investors with many of our UHNW clients from the likes of Asia and the U.K / Europe choosing to re-locate or have a presence in Dubai.’
‘On the consultancy side, we are very fortunate to be advising developers that operate in the ‘true’ ‘ultra prime’ segment of the market, of which there really are only a handful. Our highly talented team have a wealth of global expertise having advised on some of the most iconic buildings around the world – we look forward to our contribution in bringing forward outstanding residential development offerings to the dynamic real estate market of Dubai.”
Origin provides a global real estate development consultancy service – working with leading developers around the world from the point of site acquisition and pre-development, through to an international sales and marketing launch. Georgina is currently advising on a portfolio of significant, ultra-prime branded residential properties supporting their sales journey from end to end.
