Dubai properties attract affluent buyers
The Gulf emirate continues to charm the global elite as HNWIs worldwide are projected to spend an astonishing $2.5bn on luxury properties in the city this year, says a survey.
Luxury car market rides on sustainability
A shift in consumer preferences — with a substantial percentage of sales coming from smaller and midsize vehicles — hasn’t dented the appeal of luxury cars, says Peter White, Sales Director at Audi Middle East.
More females steer toward luxury vehicles
Bentley’s Regional Director for the UK, Middle East, Africa, and India also anticipates further growth luxury car market throughout 2023 on the back of economic stability and increased business activity in the Middle East.
Recession fails to dent luxury car sector
Amid rapid tech growth and rising environmental concerns, understanding the current automotive industry trends, especially in luxury, is vital, says Dr Manfred Bräunl of Porsche.
Luxury car market navigates challenges
In addition to battery electric vehicles, BMW is exploring hydrogen fuel cell technology to harness the potential of clean hydrogen production in the region, adds the managing director of BMW Group Middle East.
Demand drives up customized car markets
Popular car customizations include color changes, custom rims and tires, body kit installations, modified exhaust systems for a more aggressive sound, and upgraded interiors with custom upholstery and audio systems.
Luxury markets embrace sustainability
The luxury markets in the GCC region are experiencing significant growth, driven by an increasing demand for high-end products. Despite challenges such as the pandemic, inflation, and banking crises, individuals in the region are investing in luxury items like watches and jewelry due to their potential for future price appreciation. This has led to a…
Dubai luxury realty market at new heights
The emirate’s luxury home sales surged to $1.63 billion in Q1 2023, as affluent buyers acquired 88 units exceeding $10 million, signaling a sustained rise in prime property sales amid broader economic rebound.
Luxury tourism in Gulf countries set to reach $11bn this year
GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.
Top car brands adopt sustainable mobility
Sustainable mobility necessitates taking into account the entire lifecycle of a vehicle, not just the use phase. This includes sustainable design, end-of-life considerations, and incorporating recyclable materials, say experts.
Dubai real estate sector strengthens on investors’ confidence
The present market conditions indicate that investing in real estate assets, especially in beachfront destinations, is opportune. These destinations are expected to significantly contribute to the growth of the UAE’s prime real estate sector in 2023 and beyond, with no signs of this trend diminishing.
Strong demand for UAE luxury real estate
By the end of 2022, the UAE was expected to attract more than 4,000 high-net-worth individuals. Around 25 percent of GCC’s millionaires are moving to the UAE.