Unique Properties, one of Dubai's leading real estate companies, has achieved another milestone in the city's real estate sector with the sale of 176 high-end properties worth Dh3.1 billion in the first half of 2023.

According to global property consultancy Knight Frank, we have witnessed the sale of 219 homes at the same price over the past year or so, making Dubai the fourth most active city in the world for ultra-luxury real estate.

Dubai continues to consolidate its number one position and move up in the Middle East in terms of positioning itself as having the most wealthy residential population in the region. Recent figures show that it is home to 68,400 millionaires, 206 multimillionaires (with a net worth of at least Dh367 million) and 15 billionaires, suggesting a 62 per cent increase in the number of Ultra High Net Worth Individuals (UHNWIs) from 2012 to 2022. Across the Middle East, the growth of UHNWIs is expected to surge by 24 per cent over the next five years, with Dubai being the main catalyst. In turn, there will be a significant increase in the supply and delivery of luxury residential units.

Knight Frank also reported that there are currently 9,717 UHNWIs living in the Middle East and this number is expected to exceed 12,000 by 2026, with the majority of them making Dubai their primary residence, which will not only boost Dubai's real estate sector, but also its overall economy.

Arash Jalili, Founder and CEO of Unique Properties, commented: "Dubai has consistently exceeded the expectations of people travelling here from all over the world. The city offers expatriates both top-quality luxury residences and a wealth of investment opportunities that allow them to live comfortably and securely, while also ensuring a strong return on their investment.

As the city continues to solidify itself as a top destination in the Middle East and a destination of choice for the world's high rollers, our gaze is no longer limited to the millionaires entering the market, but our attention has also shifted to the multimillionaires and billionaires who are looking to invest in luxury villas and penthouses in upmarket areas such as the Palm Jumeirah and Emirates Hills.

The city's commitment to sustained growth and security will continue to attract the world's wealthiest to invest, regardless of price.

Through its multilingual, international and experienced team of consultants, Unique Properties contributes to the growth of the sector by offering a range of services through its off-plan projects and a large number of properties for sale and rent.In 2022, Unique Properties accounted for 2 per cent of total 'off-plan' sales in Dubai and approximately 1 per cent of total real estate sales in Dubai.