Top 3 places to invest real estate in Dubai 2023

Proptech's projection using artificial intelligence reveals the factors behind their leadership position. Sobha Hartland recorded an average annual price increase of 17.6%. - KT File

Published:

September 10, 2023, 19:16

Updated:

September 17, 2023, 22:20

Realiste AI is an advanced algorithm that uses self-learning capabilities to evaluate the investment attractiveness of real estate around the world. It takes local preferences into account by modeling the decision-making process of potential buyers in specific locations. According to its forecast, Sobha Hartland, Dubai Harbour Part 1 and Bu Kadra Part 2 are the three best places to invest in Dubai real estate. The predictions made by Realiste were based on its proprietary artificial intelligence platform. According to the study, these neighborhoods were ranked as the three most profitable locations in terms of average annual price growth.

"To determine the score, our algorithm analyzes more than 200 metrics from a variety of reliable sources. These metrics have different effects on the score. All factors can be divided into 4 groups with very high, high, medium and low levels of influence," said the Realiste representative.

The main factors of each of them are shown in the picture. The following features of the three districts stand out individually:

SOBHA HARTLAND:

This district has an average annual price increase of 17.6%. It is a 15-minute drive from Burj Khalifa and the International Airport. There is a developed green area (3 functioning parks), swimming pools and gyms.

DUBAI HARBOUR Part 1:

The average annual price increase here was 16.5%. It is a five-minute drive from Prospect, where there are many stores and restaurants, the Marina and Yacht Club, and Sheikh Zayed Road. It has a private white sand beach with the sparkling waters of the Arabian Gulf and offers beautiful views of the Palm Jumeirah, Ain Dubai, the cruise terminal, Dubai Marina and Dubai Harbour Boulevard.

BUKADRA Part 2:

The average annual price increase in the area was 14.5%. It is located near two emblematic neighborhoods of Dubai, Downtown and Creek. It has a golf course and a private beach. The best investment products in the development are the 1-bedroom and 1.5-bedroom apartments on the middle and upper floors with panoramic views.

Alex Gault, founder of Realiste, said: "Dubai will remain attractive to foreign buyers looking to retain their assets. He will consolidate his position as geopolitical instability and the energy crisis grows. As a result, demand for local real estate and the market will further increase in 2023. "

The overall growth forecast for the Dubai real estate market, as shown in the data presented, is in line with the results of the artificial intelligence analysis. Consistent double-digit average annual price growth and project diversity emphasize the potential attractiveness to investors, which is consistent with artificial intelligence's assessment of market trends. This convergence of artificial intelligence data and observed market indicators further confirms that Dubai's real estate sector is poised for further expansion and investment opportunities. The country now ranks 16th in the Foreign Direct Investment Attractiveness Index, up six places from 2021.