Question: I am new to the Gulf region and am considering buying a property in Dubai. Real estate agents paint an amazing picture of the market’s future. However, I've noticed that there’s an unlimited supply of new properties being built, which makes me cautious.
After talking to friends, I feel one needs to stay watchful about the market potentially being overpriced. What’s your opinion on the property market in Dubai and the UAE in general? Is the market actually as strong as agents say, or should I exercise caution?
Also, considering that Dubai seems crowded and possibly steep, what would be your recommendations for upcoming areas in the UAE? Are places like Sharjah or others worth considering? MJ, Dubai
Answer: It’s easy to be swayed by any opinion, but you only have to look at the facts before making your own decisions.
For some time now, the Dubai property market has been riding on a crest of a positive wave that doesn’t seem to want to diminish anytime soon. It is becoming a speculator's dream to be able to time the market, but nobody knows how to do it.
Logically speaking, what goes up has to come down, but when I asked you to look at the facts, I was referring mainly to the population growth.
For some time now, the number of inbound residents has been larger than outbound, which means the population is growing faster than the number of units being delivered. The fact is that there are more people coming to make Dubai their home than the number of properties being handed over.
Then, add other positive factors such as the 10-year golden visa, the investor visa, the ease of doing business, business-friendly local and federal governments, zero income taxes, low corporate taxes, low VAT, safety, the economy and weather.
This is why the population is growing. It would be foolish of me to say that the property market will continue to go up, because there will come a period when house prices will stabilise. But as long as the net migration is greater than handover of properties, the status quo will continue for some time.
My prediction is that for the next two years at least, we will continue along this phase before we see any difference. If the population rises further than is currently growing at, this real estate bull run could go on beyond 2027.
Other emirates are developing their own real estate. Umm Al Quwain has Al Siniya islands, Ajman has Al Zorah, Sharjah has Arada and Ras Al Khaimah has Al Marjan and Al Hayat islands.
Q: One of my real estate friends told me that Dubai property is a bubble because the city is creating artificial supply. As the need for housing increases, more properties are created as long as there is land available.
But if you constantly keep building, eventually you’ll have more apartments than occupants or people may be outpriced, which is when prices will drop.
The city will then be dependent on completion of development projects to attract more tenants. Consider the type of people entering the country and their income bracket.
It’s ironic coming from a real estate agent, but his justification is that he’s only there to make money off commissions. Is this a bubble? GT, Dubai
A: Everyone is talking about a bubble. What they have to understand is that when economists talk about a bubble, it’s due to many factors.
I have been through two real estate downturns in Dubai. The first being the world financial crisis in 2008/09 that affected everyone and the real estate downturn of mid-2014, which lasted at least six years. What is different between then and now are the fundamentals. The reasons for the bull run are down to supply and demand and this imbalance is due to the sheer number of people wishing to make Dubai and the UAE their next home.
As long as the net migration of population continues, this buoyant real estate market is likely to last for two more years at least.
What goes up must come down and this might be possible in a few years’ time, but if it does happen, it won’t be a bubble that has burst, it will rather be a period of stability where prices neither go up nor down.
Having said this, if the population grows even higher than the current rate, we could see this real estate bull run go on for much further than just a couple of years.
To what your friend said about being here for the commissions, this is a sad state of affairs. Unfortunately, there are some individuals who think this way, and as a result, will bring the real estate sector into disrepute with shoddy work, bad advice and terrible service.
I would tell any potential client to do their due diligence and seek professional agents to work with.
The opinions expressed do not constitute legal advice and are provided for information only. Please send any questions to mario@novviproperties.com
Tales of Yusuf Tadros
Adel Esmat (translated by Mandy McClure)
Hoopoe
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Killing of Qassem Suleimani
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
Raised: $2.5 million
Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
RESULT
Aston Villa 1
Samatta (41')
Manchester City 2
Aguero (20')
Rodri (30')
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
