In recent years, commercial, diplomatic, and political relations between Türkiye and the UAE have significantly improved. The bilateral trade volume has exceeded $20 billion, while mutual investments have approached $25 billion. The UAE, Türkiye’s second-largest trade partner in the Gulf region after Iraq, continues to attract Turkish investors with its lucrative opportunities. In 2024 alone, Turkish investors poured $3 billion into Dubai, and this figure is expected to reach $5 billion by 2025. Dubai, which ranked as the seventh most-visited city in 2024, has hosted a substantial number of Turkish tourists. However, visitors are not only drawn to the city for entertainment but also for investment prospects. Dubai has become an increasingly preferred destination for Turks over Europe, with estimates suggesting that the city welcomes more than 130,000 Turkish visitors annually. Additionally, the number of Turkish expatriates living in Dubai is estimated to exceed 20,000. The influx of Turkish tourists, especially during holiday seasons, is expected to rise in the coming years. Annually, approximately 9 million Turks travel abroad for tourism, predominantly choosing European countries. However, with Dubai’s growing popularity, more Turks are expected to opt for the city as their travel destination. The trend of Turks exploring investment opportunities in Dubai has also witnessed a notable surge in recent years.
When examining the sectors preferred by Turkish investors in Dubai, real estate stands out as the leading choice. In 2024, more than 110,000 new property investors entered the Dubai market, and the number of Turkish investors is following an upward trend. A key factor driving this growth is the increasing presence of Turkish real estate firms opening representative offices in Dubai, which helps guide Turkish citizens toward the city's vast investment potential. Several factors contribute to Dubai's appeal as an investment destination for Turks, including tax advantages, high rental yields, and currency stability. As these opportunities become more widely recognized, investment in Dubai is expected to grow even further in the coming years. Given that over the last five years, approximately $100 billion of Turkish capital has been invested abroad, it is clear that Turkish investors are actively seeking profitable opportunities beyond Türkiye’s borders.
This naturally raises the question: Why are Turks choosing Dubai for their investments? The key reasons can be found in the previous discussions, highlighting Dubai’s investor-friendly environment. However, an important future consideration is that Dubai is projected to become an 8-million-person city by 2030, creating even greater opportunities for real estate investors. The city's rapid development, coupled with its thriving economy, suggests that investors stand to gain significant long-term returns. As Parcel Estates, we recognize this dynamic trend and understand why Turkish investors are increasingly turning to Dubai for real estate opportunities. Looking ahead, we anticipate that Turkish investors will capture a larger share of Dubai’s $250 billion real estate market, benefiting from the city's booming property sector. We invite Turkish investors to take advantage of these lucrative opportunities and secure a strong position in one of the world’s most promising real estate markets.
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