< Previous40 CEO MIDDLE EAST APRIL 2024 n luxury real estate, investors are often drawn to markets that promise both prestige and profit, seeking opportunities that offer a blend of exclusivity and of the first cities in the world to open its market for investment, presenting an enticing opportunity to capitalise on undervalued luxury residential properties. Early investors were able to buy low and see their property value gradually increase over the last four years. The rising interest in invest- ment during this period not only allowed developers to introduce luxury projects but also opened doors for international developers to enter the market. This expansion of options for property buyers is just one of several factors underscoring the city’s increas- ing prominence as a global hub for real estate investment and luxury living. Market growth and affordability Dubai’s luxury home market has witnessed a remarkable surge in sales, particularly in transactions surpassing the $10m mark. This trend highlights the city’s enduring appeal to high-net- Dubai’s property boom highlights the emirate’s enduring appeal to high-net-worth individuals and discerning investors HOW DUBAI’S LUXURY RESIDENTIAL MARKET IS DRIVING INVESTOR CONFIDENCE Prestigious locations such as the Palm Jumeirah are driving a significant portion of sales due to their lucrative investment potential BY DIANA NILIPOVSCAIA, CEO AT MERED I REAL ESTATE financial returns. Dubai, renowned for its opulent lifestyle and burgeoning real estate sector, is a prime destination for such investors. In the aftermath of the global pandemic, Dubai was one REAL ESTATE APRIL 2024 CEO MIDDLE EAST 41 worth individuals and discerning inves- tors, with prestigious locations such as the Palm Jumeirah driving a significant portion of sales due to their lucrative investment potential. Despite the rise in property prices, the city remains rela- tively affordable in the luxury market compared to other global metropoles. Out of the 15 prime residential markets around the world, $1m secures 979 square feet of residential space in Dubai, three times more than London, New York, or Singapore, making it one of the most affordable luxury markets in the world. A paradigm shift in foreign investment Friendly business policies have also played a significant role in boosting investor confidence and driving growth in the city’s real estate market. One such policy change that has garnered inter- est is the recent overhaul of the UAE’s Golden Visa rule, which required ap- plicants to make a $272,294 ‘minimum down payment’ in order to qualify for a Golden Visa through real estate investment. This makes it considerably easier for investors to secure long-term residency in the UAE. Additionally, obtaining a 10-year residency visa has become simpler as investors can now qualify for a Golden Visa by own- ing property worth $545,000, with the option to renew under the same terms. These changes provide security for long-term investors and stimulate buying demand, ensuring a competitive market and affordable prices for those looking to invest in the elite city. Continuous development and mega projects The city’s skyline is perpetually evolv- ing, driven by developers who are pushing boundaries with avant-garde designs and strategically pushing into new territory. Mega projects such as Palm Jebel Ali, which is twice the size of Palm Jumeirah and is spread over Additionally, strategic initiatives like the Loop, a 93 km city-wide climate- controlled urban highway in the works, will seamlessly connect residents across the city, enhancing accessibility and facilitating ease of movement. Strategic approach for long-term value Investing in Dubai’s luxury real estate market presents a compelling oppor- tunity for robust returns and enduring value. However, strategic planning and smart investment strategies are crucial to maximising these benefits. For instance, properties in prime loca- tions near malls, hotels, and beaches tend to see a significant increase in value, with a notable 17.4 percent price appreciation. Additionally, tapping into the expertise of industry leaders like MERED, an international real estate developer, can provide inves- tors with valuable insights into market trends and regulations. This strategic approach can allow them to capitalise on the booming real estate market in Dubai, which is expected to outper- form other global cities with value increases of 4 to 9.9 percent, highlight- ing the market’s momentum as a top- performing luxury housing sector. Dubai’s luxury real estate market has a plethora of opportunities for savvy investors seeking both financial prosperity and a high-quality lifestyle. With its prime locations, promising growth forecasts, and investor-friend- ly policies, the metropolis continues to cement its status as a global leader in luxury real estate. As the city’s skyline develops and new iconic residences emerge, investors have the chance to leverage this momentum and secure substantial returns on investment. By remaining vigilant, adaptive, and strategic in their ap- proach, investors can unlock the full potential of Dubai’s dynamic real estate market and reap the rewards of their foresight for years to come. “BY REMAINING VIGILANT, ADAPTIVE, AND STRATEGIC IN THEIR APPROACH, INVESTORS CAN UNLOCK THE FULL POTENTIAL OF DUBAI’S DYNAMIC REAL ESTATE MARKET” Dubai’s luxury real estate market has a plethora of opportunities for savvy investors, says Nilipovscaia some 13.4 sq km, promise to reshape the cityscape and set new standards for up- scale living. While these developments enhance Dubai’s luxury real estate mar- ket, sceptics have raised concerns about potential challenges in terms of market demand and accessibility. 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Cartier Watches APRIL 2024 CEO MIDDLE EAST 47 CARTIER48 CEO MIDDLE EAST APRIL 2024 he new Spirit of Big Bang Depeche Mode pays tribute to the British band’s latest album and world tour, Memento Mori, an encouragement to live fully in the present and refl ect on the value of time. This concept is symbolised on the watch by a skull motif embellished with an hourglass. In March 2023, Depeche Mode announced its big comeback with the release of Memento Mori, its 15th studio album, along with a worldwide concert tour. Also in collaboration with the band, which has sold over 100 million albums, Hublot is helping to raise funds and awareness for Conservation Collective, a global charity that unites a network of regional philanthropic foundations working to protect, conserve and restore natural environments. Thanks to this funding, the fi rst round of projects tackling The Spirit of Big Bang Depeche Mode is designed with Hublot’s iconic all-black aesthetic Martin Gore, Dave Gahan, Hublot CEO Ricardo Guadalupe, and Conservation Collective’s Ben Goldsmith at the media interview for the launch of the Spirit of Big Bang Depeche Mode T Hublot pays tribute to Depeche Mode Created in collaboration with the celebrated English electronic music band, the design of the timepiece fuses the skull motif with an hourglass to symbolise the passage of time TIMEPIECESTIMEPIECES APRIL 2024 CEO MIDDLE EAST 49 plastic pollution in 2023 supported seven impactful initiatives across seven countries. Three more rounds of funding will build on these initial positive results. It was against this backdrop that Hublot and Depeche Mode teamed up again in Berlin, 11 years after their fi rst joint event in the German capital, to release a new limited-edition watch: The Spirit of Big Bang Depeche Mode. The signature tonneau shape is designed with Hublot’s iconic all-black aesthetic. Created in collaboration with Depeche Mode, the design combines the skull motif with an hourglass to symbolise the passage of time. The centre of the dial is fi lled with small black ceramic spheres that symbolically fl ow back and forth as the wrist moves, conveying the concept of Memento Mori. This Latin phrase, meaning “remember you must die”, is intended to prompt refl ection on the transience of life. Alongside the dial, the initials DM, the British band’s logo, appear at 6 o’clock. The indices take the form of pyramid- shaped studs, a motif echoed on the black ceramic bezel. Each of the 100 timepieces in this limited edition will come in a special box containing a wonderful surprise: a 10” vinyl single of Depeche Mode’s Wagging Tongue track, exclusively available as part of this package and produced using green energy and recycled PVC. hand-patinated. Its toes and claws are disturbingly life-like, which is only accentuated by the movements they make. At 6 o’clock, the animal grasps a ball of red jasper, chosen for its properties of attracting success and abundance, as well as protecting and promoting openness to the world. On it, the artisans have trapped fragments of gold dust beneath a layer of transparent varnish. To showcase the animation, discreet openings cut into the dial above the ball and at three o’clock enable partial glimpses of the magic – created by 19 moving parts in total – bringing the nine diff erent animations on the piece to life. These include the undulating of the sacred animal’s spine, the opening and closing of its jaw and eye, the movement of its tongue, the raising and lowering of its crest, along with its claws grasping the jasper, which also rotates constantly. The sequence of the animation changes each time it is activated, to retain the magic and mystery for its one and only future collector. The Imperial Dragon Automaton Red Gold – Cuprite ’s dial is made from cuprite, a stone symbolising strength, energy and vitality The watch from Hublot is limited to 100 pieces THE DRAGON is an animal with historic links to the watchmaking brand. The Atelier’s founder was one of the earliest offi cial suppliers to the Imperial Court of China, 280 years ago. Today, Jaquet Droz still regularly explores the symbolism of the dragon in collaboration with John Howe, conceptual designer for the “Lord of the Rings” trilogy. The Imperial Dragon Automaton Red Gold – Cuprite embodies this narrative continuity. It is a modern piece, powerful and unique. It captures the past with both deference and creativity. Respectful yet audacious. Its dial is made from cuprite, a stone symbolising strength, energy and vitality, with its bright red colour representing the dragon’s characteristic fi re. However, not many people are aware that the dragon is also associated with rain, which is why the artisans of the Manufacture have surrounded its head and tail with clouds painted in shades of gold and ochre. This dragon features all of the distinguishing traits from Chinese culture: two moustache tendrils pointing upwards, a full beard, gently rounded teeth – the dragon was not necessarily menacing, often representing a benevolent force. Each scale on its body is hand-shaped and $415,000 The price if the Jaquet Droz Imperial Dragon Automaton Red Gold – Cuprite timepiece JAQUET DROZ HONOURS THE DRAGON $35,340 The price of the new Spirit of Big Bang Depeche Mode watchNext >