Additionally, the UAE’s smart home market is projected to exceed $76 million in revenue this year, growing to $114 million by 2028.
Dubai’s luxury real estate sector is set to remain a significant contributor to the country’s growth. An industry report indicates that the increasing environmental consciousness among residential buyers will also play a crucial role in the UAE’s upward trajectory.
According to ZāZEN Properties, a report highlights that 90 percent of UAE residents are willing to pay extra for homes equipped with smart home technology features.
“UAE Net Zero 2050 has garnered attention for several years, and the progress towards achieving this objective is more evident than ever,” said Madhav Dhar, COO and founding member of ZāZEN Properties.
Referring to a KPMG report, he noted that MENA’s built environment is currently witnessing $2 trillion in investments from developers, regulators, and sovereign wealth funds aimed at fostering sustainability leading up to 2035.
“This growth is a response to the rising demand for sustainability. However, real change requires more than financial investments; it also necessitates the involvement of all buyers in the market to collectively meet the demands of a greener future,” Dhar explained.
“We’re approaching a stage where this is becoming increasingly true, with all signs suggesting that this is no longer just a trend but rather a pathway to the future,” he added.
Dhar also stated that the demand for real estate in Dubai shows no signs of slowing.
“In fact, there is a noticeable increase in short-term demand for properties, with a recent study indicating that 66 percent of tenants plan to purchase a home in Dubai within the next six months,” he said.
