Dubai's real estate market remains stable and continues to attract Pakistanis.

The interest of Pakistanis in Dubai real estate has changed a bit as they are no longer just buying properties for investment purposes but are also considering relocating to this city, an official of renowned real estatedeveloper DAMAC Properties said.

The official said that Dubai has always attracted Pakistanis for investment as it is stable and close to their home country. Dubai has long attracted investors for its financial stability as the dirham exchange rate is pegged to the US dollar. Also an important advantage is the lack of taxation on income and high rental yields.

Besides Pakistanis, Dubai is also attracting Russian investors who have dodged the effects of sanctions after the war on the''Ukraine. Despite the decline in real estate values due to the devaluation of the rupee, Pakistani investors' interest in Dubai remains high. Many of them come to Dubai to provide a better future for their children and to get education abroad.

The procedure of buying real estate in Dubai is much simplified compared to western countries. In Dubai, the purchase can be done in a few hours with a passport and funds. The main problem for Pakistanis is the transfer of funds. Despite this, Pakistanis remain one of the largest buyers of real estate in Dubai. Economic stability and flexible certificate system allow''attract foreign investors.