As suggested by a recent study they’re ranked above New York and South Florida
Dubai has once again claimed the top for the most luxurious city by ranking on top of the branded residency destinations.
The feat is appreciable considering the fact that they surpassed New York from the USA and South Florida, one of the most prominent cities in the world since its inception, especially in the modern era.
According To Survey, Dubai Is The Top Location For Branded Residences
Dubai proudly has rich households or buildings with brilliant architecture and facilities around the area which increases the desire and cost of living up to a fortune.
Just like Florida and NY, Dubai is also on top of amazing nightlife. With the help of their eco-system, upcoming projects, revenues, economy, and developments. Dubai has been home to many celebrities and multi-millionaires, including the number of tourists who visits every year as well.
The capital of the United Arab Emirates has been honored with countless amounts of recognition and achievements and this one adds up to their list. The Savills report claims that these areas are well equipped with luxury properties, and markets that lure buyers or businessmen even from outside the country.
It is said that it took several years but the city is now capable and guarantees adaptability to adverse market conditions and also the reliability to choose.
The security of the neighborhoods is another factor that made the city chosen to be on top. The official Riyan Itani head of the Savills Global residential consultancy assures the future buyers that the project would expand and would be continued in multiple parts of the city.
The uncertainty and quick changes over the world is a huge drawback for these projects, incidents like the global pandemic which caused a sudden fall in markets recently is a huge example to halt future-oriented projects to an extent.
Sources also suggest that Middle Eastern or Asian countries are targeted and growing day by day due to the strong and long pipeline facility along with a great supply of electricity, Middle east leading in terms of pipeline.
If Things stay on track as of now the numbers could even go higher by the studies conducted.
Savills is a leading company for property and its services and the criteria they rank the countries are justifiable following their requirements to select the city so far.
In numbers, there has been an increase of 150 percent in the growth of branded residency, and it is expected to grow 86 percent soon or by the end of this forecast.
As already mentioned, the pipeline schemes are a strong pillar for the economy in these areas as there are more than 640 schemes which add up to more than 100,000 units operating in almost every continent (Antarctica excluded).
This has attracted global brands and development which increased the amount of supply from 400 percent to an extra 216 percent now.
With all these Dubai has grown to be a global point by any means, the celebrity endorsements, and the brands initiating their move to take part in the country’s venture should be evidence of how prominent Dubai has grown.
Dubai represents the whole United Arab Emirates as the heart of the country’s various factors. It’s home to millions of immigrants who welcome more for the sake of their country and requires them to contribute to their economy.
More than UAE Dubai holds popularity and is a selected location for multiple projects. It’s a city with a golden spoon and hopefully, they extend its legacy with the development, and growth of its architecture and immense infrastructure.