Dubai named the ultimate ‘hybrid city’ for real estate investment
Dubai’s realty recently scored another point with the international investors, as it was termed as a ‘Hybrid City’ by JLL due to the high quality of life and the complete transformation of its commercial real estate.
JLL’s recent report titled ‘World Cities: Mapping the Pathways to Success’ groups together cities from around the globe based on growth, livability, smartness, resilience skills and business readiness. Our team here at Copperstones finds this new typology particularly interesting as we always strive to stay ahead of the market trends to best cater to the needs of our clients.
JLL and The Business of Cities have identified 10 city groups that each have common paths, challenges and imperatives. As locational choices multiply for investors and corporates, it makes greater sense to assess relative economic prospects and real estate market dynamics through the lens of specific city groups. Reports such as this can be proven beneficial tools for real estate investors who are looking to diversify their portfolios to new ‘hot’ markets such as Dubai.
Based on the report, ‘Hybrid’ cities are best epitomised by Dubai. Those cities are usually medium-sized and compete in specialised markets while they benefit from access to large domestic markets. Dubai’s spot on the map and its definite luxury status exhibit the durability and top position of the city on real estate worldwide. Dubai ranks among the world’s ‘emerging cities’ and ‘new world cities’ as a city with a superior live-ability compared to other national and regional actors.
It’s not the first time that Dubai steals the show since in 2016 it was ranked among the world’s top destinations for Foreign Direct Investment (FDI). The emirate has undoubtedly made huge progress in enhancing its real estate sector. Dubai also ranked first as the most transparent real estate market in the Middle East according to JLL’s ranking in 2016. Since then, Dubai has implemented extensive frameworks to improve real estate transparency and as a result, has attracted high levels of international investor activity.
Craig Plumb, Head of Research, in JLL MENA said,
“Dubai and Abu Dhabi top the list of being termed Hybrid cities. They share characteristics, aspirations, and priorities in terms of the specialisms that they nurture, the talent and businesses that they attract, and the style and quantity of real estate required. With this in mind, it makes sense to assess cities in the Middle East as it allows room to evaluate the competitiveness of the market.”
The most impressive aspect of the Dubai economy is how far it has come in such a short time. The leadership of Dubai seems determined to keep the city at the top of every possible ranking, as more funds are invested in high-quality infrastructure platforms, visitor experience, and real estate megaprojects. The transformation of Dubai along with its ability to adapt to new realities is one of these parameters worth taken into consideration when it comes to property investment.
Our Copperstones team has recently kicked off a series of property investment sessions focused on Dubai. Call us today on +44 (0) 8445 555 555 to book your first one-on-one consultation.
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