Economy, life and real estate market in Dubai

100,000+ Russians arrived in Dubai in the last 3 months.

Russian buyers are increasingly attracted to Dubai's realty market. Main reasons:

• Tax-free regime
• Аffordable mortgage
• Business opportunities are big incentives
• Reduction of minimum amount of investment in real estate in Dubai to obtain a UAE resident visa

At the end of May, the most expensive villa in District One (https://t.me/axcapital_uae/1665) was sold to a Russian investor.

Dubai Investment Corporation (ICD) returned to profitability in 2021:

• Revenue – $46.1 billion
• Net Profit – $2.7 billion
• The Net Profit attributable to the equity holder – $1.5 billion

Corporation revenue increased by 24.5% compared to 2020.

The Burj Khalifa skyscraper ranked 2 place among the most viewed attractions on TikTok.

The tallest building in the world has 1.9 billion views. According to the travel website, Next Vacay:

• 1 place - Disney World Orlando, USA
• 3 place – Eiffel Tower, France

Sources: Zawya, IcdGov, TimeOut Dubai