Following a period of decline in the wake of the global financial crisis, Dubai is making a comeback as a real estate investment destination. The region has emerged as the 11th best place in the world for future real estate investment.
This is according to a survey by Knight Frank Citi, which revealed that the emirate has now overtaken more well-established cities such as Washington in the US, Zurich in Switzerland and Sydney in Australia.
The survey picked New York as the top destination for future investment, with London in second place. The biggest winners in the list tended to be more emerging destinations, with Russia, India and China expected to perform strongly.
Knight Frank said: "They look set for a dramatic upswing in their status, with each expected to climb by between six and eight places over the next decade."
The survey ranked Shanghai in the third place, followed by Beijing, Hong Kong, Singapore, Mumbai, Tokyo, Paris, Moscow, Dubai, Sao Paulo, Zurich, Geneva, Washington, Berlin, Sydney, Los Angeles, Seoul and San Francisco.