Drawing on the findings of the recently launched Knight Frank Wealth Report, Liam Bailey, Global Head of Research at Knight Frank confirms 10 trends which will shape wealth and investment trends in 2019.
For Dubai the tourism market has historically been a strategically important sector. In 2017 it is estimated that the sector contributed over AED150bn to GDP (4.6% of GDP), and provided almost 570,000 jobs (4.8% of total employment).
Despite the short-term concerns raised by Brexit, over two thirds of the capital originating from GCC countries is actively seeking opportunities in UK real estate. Whilst a substantial proportion still show a preference for London we have witnessed more and more investors moving into the regional cities across the UK, searching for more attractive returns.
Arguably, no city has seen such a rapid transformation as Dubai. The speed of growth and expansion in the built environment has brought challenges; property market cycles are certainly more volatile than in other more established cities.