Dubai’s real estate, cost of living conundrum creates opportunities for Gulf rivals to capitalize


Al-Monitor Pro Members


Samuel Wendel

Senior Market Research Analyst, Al-Monitor


May 12, 2023

Bottom Line:

A new influx of global wealth has the UAE’s real estate market red hot and is pushing Dubai’s luxurious tax free lifestyle to new heights. However, this boom also threatens to price out many expats, with soaring rents fueling rising living costs. Signs point to that trend continuing through 2023 — raising fears of an expat exodus that could alter the UAE’s reputation as a global business hub. That could suit Saudi Arabia just fine at a time when the kingdom is prying business and senior executives away from its smaller Gulf neighbor. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.