NEW DELHI: An Indian HNI woke up to a message from a Dubai-based broker on Tuesday, asking for the best offer for a beachfront property, which was “in distress”.But, the West Asia crisis has created doubts in her mind over Dubai’s well-earned reputation as a haven.She is not alone and multiple realtors say many Indians have put their Dubai buys — primarily made for rental income and of course long-term capital appreciation — on hold. This is a concern the Emirates will like to address as soon once the war ends. The reason: Indians accounted for 10% of property sales in Dubai in 2025, up from 6% in 2024, according to Knight Frank.
A number of developers including Emaar, DAMAC, Sobha, Danube, Nakheel and Dubai Holding have for the past few years been targeting buyers from India. With properties starting at Rs 2.5-3 crore and sky being the limit, Dubai was seen as more affordable than south Mumbai and Gurgaon and offering higher rentals. Several Indian realtors have also spread their wings to the UAE and are developing projects.Danube Group founder and chairman Rizwan Sajan allayed concerns about Dubai. “As for the real estate market, at this stage the impact appears to be driven more by sentiment than by any fundamental structural shift. It would be premature to draw any long-term conclusions at this point. While developments like these can create temporary uncertainty, the underlying fundamentals remain resilient overall.”Executives at multiple real estate developers call the current crisis a “blip” in the Dubai rather than UAE story. “Buyers may hope for some discounts in the near terms, but the long-term story is intact,” said a leading realtor.
