Latest news with #Driven|ForbesGlobalProperties
Gulf Insider
10-06-2025
- Business
- Gulf Insider
Dubai's Ultra-Luxury Property Market Hits New Heights
Dubai's luxury real estate market continues to defy global trends, with Driven | Forbes Global Properties completing the sale of the final two penthouses at the Bulgari Lighthouse for a combined total exceeding AED282m ($77m). The deals reinforce the emirate's status as one of the world's most resilient and in-demand ultra-prime residential destinations. The first penthouse, a five-bedroom residence spanning 11,657 sq ft, was sold for AED146.6m ($40m), while the second fetched AED136.25m ($38m) —both among the highest-value apartment sales recorded in Dubai this year. Designed by acclaimed Italian architects Antonio Citterio and Patricia Viel, the Bulgari Lighthouse is located on Jumeirah Bay Island. The tower features a coral-like façade, panoramic views of the Arabian Gulf and Downtown Dubai, and interiors finished with Italian marble, hand-laid silk panelling, and warm oak accents. Each residence includes private infinity pools, double-height salons, and expansive terraces, merging resort-style luxury with urban privacy. Every detail is curated in partnership with the adjacent Bulgari Resort Dubai, offering owners hotel-level services—from private chefs and curated events, to concierge-managed experiences. The landmark sales were brokered by Lina Allaoa and Kianoush Darban, founders of The Private Collection at. Known for consistently setting area records—including the highest price per square foot and most expensive villa sale on the island—the duo has become synonymous with Dubai's high-end property elite. Lina Allaoa said: 'Dubai offers our international clients two things they value most: a secure place to allocate their capital and an unbeatable way of life. Bulgari Lighthouse unites those advantages in a single address, blending sound investment with everyday opulence'. Kianoush Darban added: 'Scarcity drives value. With fewer than 40 residences in the tower, and amenities that rival a private resort, Lighthouse is arguably the most coveted address in Dubai.' Their success is emblematic of the wider market. The emirate recorded AED62.4bn ($17bn) in real estate transactions in April 2025, a staggering 95 per cent increase year-on-year, driven largely by demand for trophy waterfront homes and limited-edition inventory. Analysts expect this ultra-prime momentum to continue into 2026 as supply remains tight and international capital continues to flow. Also read: Dubai Metro Blue Line To Have World's Highest Metro Station
Zawya
06-05-2025
- Business
- Zawya
Dubai among top cities; set to become tier-one global city
Dubai is making rapid progress towards becoming a tier-one global city and fully established global hub, according to a new report by Driven | Forbes Global Properties, Dubai's award-winning real estate brokerage. The report, titled 'Dubai on the Verge of Tier-1 City Recognition,' presents the first analytical framework developed by the UAE-based brokerage, Driven, to measure how a city stacks up against the world's most established hubs. Drawing on 28 quantitative indicators, spanning infrastructure, governance, economic depth, safety, quality of life and inter appeal, the new index introduced in the report benchmarks Dubai alongside Singapore, Sydney, London, New York, Hong Kong and Paris to spotlight the city's approach towards recognition as a tier one global city. This is backed by wider visions, including its D33 Economic Agenda and Dubai 2040 Master Plan. The new report, based on rigorous primary and secondary market research, caters to a diverse range of stakeholders—including investors, family offices, developers, and individuals aiming to explore and invest in the city's ever-evolving real estate market from various real-time perspectives. 'We saw a chance to elevate the conversation, beyond headlines and market sentiment, and to ground it in real data, global benchmarks, and long-term vision, and we felt a responsibility to lead that effort,' said Abdullah Alajaji, CEO and Founder at Driven | Forbes Global Properties. Dubai: 5th out of 7 leading global cities Driven | Forbes Global Properties is also the first real estate brokerage in the region to develop and publish its own proprietary Tier-1 City Index, marking a bold move in providing a structured, data-backed lens on Dubai's transformation into a global hub. According to the Index, as outlined in the report, Dubai ranks fifth out of seven leading global cities, with standout performances in infrastructure (2nd), international appeal (3rd), safety and security (4th), and quality of life (4th). Industry sentiment echoes this progress, with most stakeholders believing the emirate will achieve full tier-one status within 5-10 years. Further, the report highlighted how Dubai currently offers higher cap rates than traditional tier-one markets, owing to the emirate's shorter real estate market history and higher historical price volatility, a marginally higher financial risk-free rate, and other factors. Through its gradual maturity, cap rate compression can be expected, aligning Dubai's investment profile with other leading global real estate hubs. Highlighted trends, considerations and opportunities A key pricing trend unveiled that Dubai is entering a more mature pricing phase. Almost half (43%) of surveyed respondents believe Dubai's property prices to be appropriately valued, while 35% see them as somewhat overvalued. Only 11% believe prices are undervalued. The report also stressed several investor considerations, including the need to track, in real time, project pipelines and demographic trends to prevent supply-demand mismatches, and ensure market stability. At the same time, the report spotlighted several strategic investment opportunities, such as limited-supply asset classes including waterfront and coastal properties. These properties are likely to resist price fluctuations and provide stronger long-term value. Affordable and mid-income housing also presents strong development potential, among other similar opportunities. Predicted outcomes The report concluded that Dubai's real estate market is steadily evolving into a mature global hub, on the cusp of full tier-one city recognition. While short-term price fluctuations may persist, Dubai's strong fundamentals and increasing institutional capital inflows position it as a strategic long-term investment destination. As the market continues to mature, it is expected to mirror the stability and investment appeal of established global cities. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
05-05-2025
- Business
- Trade Arabia
Dubai among top cities; set to become tier-one global city
Dubai is making rapid progress towards becoming a tier-one global city and fully established global hub, according to a new report by Driven | Forbes Global Properties, Dubai's award-winning real estate brokerage. The report, titled 'Dubai on the Verge of Tier-1 City Recognition,' presents the first analytical framework developed by the UAE-based brokerage, Driven, to measure how a city stacks up against the world's most established hubs. Drawing on 28 quantitative indicators, spanning infrastructure, governance, economic depth, safety, quality of life and inter appeal, the new index introduced in the report benchmarks Dubai alongside Singapore, Sydney, London, New York, Hong Kong and Paris to spotlight the city's approach towards recognition as a tier one global city. This is backed by wider visions, including its D33 Economic Agenda and Dubai 2040 Master Plan. The new report, based on rigorous primary and secondary market research, caters to a diverse range of stakeholders—including investors, family offices, developers, and individuals aiming to explore and invest in the city's ever-evolving real estate market from various real-time perspectives. 'We saw a chance to elevate the conversation, beyond headlines and market sentiment, and to ground it in real data, global benchmarks, and long-term vision, and we felt a responsibility to lead that effort,' said Abdullah Alajaji, CEO and Founder at Driven | Forbes Global Properties. Dubai: 5th out of 7 leading global cities Driven | Forbes Global Properties is also the first real estate brokerage in the region to develop and publish its own proprietary Tier-1 City Index, marking a bold move in providing a structured, data-backed lens on Dubai's transformation into a global hub. According to the Index, as outlined in the report, Dubai ranks fifth out of seven leading global cities, with standout performances in infrastructure (2nd), international appeal (3rd), safety and security (4th), and quality of life (4th). Industry sentiment echoes this progress, with most stakeholders believing the emirate will achieve full tier-one status within 5-10 years. Further, the report highlighted how Dubai currently offers higher cap rates than traditional tier-one markets, owing to the emirate's shorter real estate market history and higher historical price volatility, a marginally higher financial risk-free rate, and other factors. Through its gradual maturity, cap rate compression can be expected, aligning Dubai's investment profile with other leading global real estate hubs. Highlighted trends, considerations and opportunities A key pricing trend unveiled that Dubai is entering a more mature pricing phase. Almost half (43%) of surveyed respondents believe Dubai's property prices to be appropriately valued, while 35% see them as somewhat overvalued. Only 11% believe prices are undervalued. The report also stressed several investor considerations, including the need to track, in real time, project pipelines and demographic trends to prevent supply-demand mismatches, and ensure market stability. At the same time, the report spotlighted several strategic investment opportunities, such as limited-supply asset classes including waterfront and coastal properties. These properties are likely to resist price fluctuations and provide stronger long-term value. Affordable and mid-income housing also presents strong development potential, among other similar opportunities. Predicted outcomes The report concluded that Dubai's real estate market is steadily evolving into a mature global hub, on the cusp of full tier-one city recognition. While short-term price fluctuations may persist, Dubai's strong fundamentals and increasing institutional capital inflows position it as a strategic long-term investment destination. As the market continues to mature, it is expected to mirror the stability and investment appeal of established global cities. – TradeArabia News Service
