Dubai Rises in Global Ranks as New Report Highlights its Progress
ECONOMY & POLICY

Dubai Rises in Global Ranks as New Report Highlights its Progress

Driven | Forbes Global Properties, Dubai’s award-winning real estate brokerage, has announced the launch of its first industry report, titled “Dubai on the Verge of Tier-1 City Recognition,” as well as a brand-new industry index at a roundtable held on Monday, May 5 at The Arts Club, Dubai.

The report 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 per cent) of surveyed respondents believe Dubai’s property prices to be appropriately valued, while 35 per cent see them as somewhat overvalued. Only 11 per cent 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.

Through this report, Driven reinforces its position as a thought leader in the real estate sector, providing the market with a clear, data-driven framework to understand Dubai’s current trajectory.

Driven | Forbes Global Properties, Dubai’s award-winning real estate brokerage, has announced the launch of its first industry report, titled “Dubai on the Verge of Tier-1 City Recognition,” as well as a brand-new industry index at a roundtable held on Monday, May 5 at The Arts Club, Dubai. The report 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 per cent) of surveyed respondents believe Dubai’s property prices to be appropriately valued, while 35 per cent see them as somewhat overvalued. Only 11 per cent 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. Through this report, Driven reinforces its position as a thought leader in the real estate sector, providing the market with a clear, data-driven framework to understand Dubai’s current trajectory.

Next Story
Infrastructure Transport

India Becomes First to Produce Bio-Bitumen for Roads

India has become the first country in the world to commercially produce bio-bitumen for use in road construction, according to Road, Transport and Highways Minister Nitin Gadkari. Bitumen, a black and viscous hydrocarbon derived from crude oil, is a key binding material in road building, and the bio-based alternative is expected to significantly improve the sector’s environmental footprint.Addressing the CSIR Technology Transfer Ceremony in New Delhi, Mr Gadkari congratulated Council of Scientific and Industrial Research on achieving the milestone, noting that the initiative would help curb ..

Next Story
Infrastructure Urban

HILT Policy Seen Boosting Telangana Revenue Sharply

The Hyderabad Industrial Land Transformation (HILT) Policy is expected to generate around Rs 1.08 billion in revenue for the Telangana state exchequer, according to Deputy Chief Minister Bhatti Vikramarka Mallu. Speaking in the Telangana Legislative Assembly, he said the policy would be implemented within a six-month timeframe in a transparent manner, with uniform rules applicable to all stakeholders. Mr Vikramarka noted that without the HILT Policy, the state would have earned only about Rs 1.2 million per acre. Under the new framework, however, revenue is projected to rise sharply to Rs 70 ..

Next Story
Infrastructure Urban

India Post, MoRD Tie Up to Boost Rural Inclusion

The Department of Posts and the Ministry of Rural Development have signed a Memorandum of Understanding to accelerate rural transformation and expand financial, digital and logistics services for Self-Help Groups (SHGs) and rural households across India. The agreement was signed in the presence of Union Minister of Communications and Development of North Eastern Region Jyotiraditya M. Scindia and Union Minister of Rural Development and Agriculture and Farmers’ Welfare Shivraj Singh Chouhan. The collaboration aligns with the government’s “Dak Sewa, Jan Sewa” vision and seeks to repositi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App