- Dr. David von Rosen-von Hoewel is calling on property developers in Dubai to prioritize targeting North American high-net-worths to ensure continued, long-term growth in the market
- Von Rosen, who recently launched top-end Dubai-based developer 25 Degrees, argues that developers must educate North American investors about the investment, business, and lifestyle opportunities in Dubai
- He calls on the Dubai property industry to target business owners and work closely with the business community to unlock long-term economic growth
- He adds that investors in the market should also be betting on villa-style properties, as this will be the next big trend
Dubai, May 22nd – A long-term strategy to attract more North American investors to Dubai is needed to unlock the full potential of Dubai’s property market and ensure continued strong growth, claims the Dubai-based property developer and entrepreneur Dr David von Rosen-von Hoewel.
The intervention comes amid soaring demand for luxury property in the emirate, which is largely being driven by demand from high-net-worth investors from India, Pakistan, Russia, and the UK. It was also recently revealed that Dubai has the highest global demand for $10 million-plus homes (Fast Company).
Earlier this year, von Rosen launched the top-end Dubai-based property developer 25 Degrees. The company specializes in super prime villas to cater to the influx of ultra-high-net-worth individuals to Dubai and recently completed its first villa on Palm Jumeirah (Arabian Business).
He says property developers must do more to proactively attract North American investors to the region by educating them about the investment, business, and lifestyle opportunities.
He believes that developing partnerships with American wealth advisers and private banks, and targeting business owners and entrepreneurs would help bridge the gap between North America and Dubai.
Von Rosen said: “While we’re seeing more North Americans invest in property in Dubai, it’s still a largely untapped market. The time difference and geographic gap between the US and Dubai means wealthy Americans still prefer to invest onshore before looking to the Gulf region.
“Currently, the booming Dubai property market is largely reactionary, as it’s responding to high demand from Asia and Europe through the development of high-end apartment buildings. But we need to think more long-term if we are to attract investors from the US to prevent the market from hitting a growth ceiling.
“We need to work closely with the business community to ensure that American investors don’t only see Dubai as a place to do business – it also provides a great lifestyle. We’re seeing more and more US companies set up shop in Dubai, but often North Americans are on the first flight back to the States.
“North American high-net-worths find villa-style houses more appealing than high-rise apartments, and we want them to see Dubai as a viable lifestyle choice so they relocate their lives and family here. This kicks off a larger chain of investment as their businesses, capital, and talent follows.
“Investors in Dubai’s property market should be betting on villa-style properties now, as this is the next big trend as more North American high-net-worths set up shop in Dubai. It’s also the area of the market that offers the highest return on investment.”
