In 2022, the UAE became the leader in demand for foreign real estate from Russians, second only to Turkey. Following the buyers, Russian developers began to be interested in the UAE real estate market. News began to appear more and more often that a large developer from Russia will build in Dubai, and a Russian real estate agency has opened an office in the Emirates.
Together with experts, we are looking into what attracts Russian developers and real estate agencies to the UAE today and how long this interest will last.
The UAE real estate market began to actively develop real estate agencies and open their representative offices in the country. For example, last year, Webster, Floors, Nikolliers, NF Group, Kalinka Group, Intermark Real Estate, Nika Estate, RRG and others followed the Russian buyers.
Mostly real estate agencies with Russian roots work in the expensive segment, says Konstantin Kovalev, CEO of Webster. According to him, "only the lazy one did not enter this market" — one way or another, almost all major Russian brokers work here. "Not everyone organized their own companies, some work as individuals and have their own commission for clients, acting through licensed agents. And this flow has not ended yet, a number of Russian real estate agencies will still announce their exit plans," the expert predicts.