Dubai has once again ascended to the top of the international list of the most promising cities for investing in real estate.
According to Imexre.com citing Emirates Business 24/7, the Cushman & Wakefield’s data shows an increase in the volume of investments in Dubai’s real estate by 2174% in the period from June 2013 to June 2014.
In the previous year, Dubai was given a modest 186th place, while in 2014 the city scored 39th in the list of the 50 most promising cities for investments in real estate. The volume of investments in real estate of the emirate amounted to US$3.68 billion in the period from June 2013 to June 2014.
The price dynamics of real estate of Dubai has recently seen a decline, however comparing with the other 53 cities of the world, Dubai’s real estate is still growing the fastest.
In September 2014, the British company Knight Frank claimed that despite the slowdown in the price dynamics of real estate of Dubai, in the period from March 2013 to March 2014 it grew by 24%, which is the highest rate among all the leading cities of the world.
From the fourth quarter 2013 to the second quarter 2014, the price of Dubai’s real estate grew by 7.4%, while in the first quarter of 2014, it grew by 3.9%.
The largest shopping mall in the world is to be constructed in Dubai.