Dubai’s Property Boom Starts to Lure Back Chinese Buyers

(Bloomberg) — Chinese investors are gradually returning to Dubai’s real estate market, joining Russian and other international buyers who have already pushed property prices in the emirate to record levels.

At the city’s largest developer, Emaar Properties PJSC, buyers from China doubled to 8% of the total during the first half of 2023 from 4% through 2022, according to a report by CI Capital, which cited an analyst call with Emaar management. While those levels are still below the peak of 13% to 14%, Chinese demand could become a key factor in helping to shore up demand in the emirate’s property market.