{"id":583464,"date":"2023-03-01T00:00:00","date_gmt":"2023-03-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/dubais-luxury-property-market-is-heating-up-can-fast-fashion-be-slowed-down\/"},"modified":"2023-03-01T00:00:00","modified_gmt":"2023-03-01T00:00:00","slug":"dubais-luxury-property-market-is-heating-up-can-fast-fashion-be-slowed-down","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/dubais-luxury-property-market-is-heating-up-can-fast-fashion-be-slowed-down\/","title":{"rendered":"Dubai\u2019s luxury property market is heating up + Can fast fashion be slowed down?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Could Dubai soon dethrone New York as the luxury real estate market king?<\/span><span style=\"\">  As <\/span><span>wealthy investors flock to the UAE city for a safe haven from geopolitical and economic uncertainty, its luxury real estate market has become the busiest in the world after New York, Los Angeles, and London, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-01\/dubai-s-luxury-property-market-is-closing-in-on-new-york-london\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\"> reported. There were 219 transactions involving properties worth USD 10 mn or more recorded in the city last year, according to property consultant Knight Frank.  To put that in perspective, New York recorded 244 transactions worth USD 10 mn or more. Dubai is also one of the most \"affordable\" markets for high-end real estate, with a USD 1 mn investment buying you 1.1k sq ft of residential space in desirable areas, which is four times as much space as you would get for the same price in NYC, London, or Singapore. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The property boom in Dubai was fueled by a range of factors, including new residency visa options <\/span><span>and the government's quick response to the pandemic, according to Faisal Durrani, head of Middle East research at Knight Frank. This has led to a flood of wealthy investors, like crypto m\u2019naires, Indians looking for second homes, and bankers running away from strict Covid restrictions in Asia. Hedge fund traders have also moved to the city due to its low regulatory burden, absence of income tax, and attractiveness as a transit hub. An influx of wealthy Russian investors looking to protect their assets is also helping the market. In fact, Russians were the largest foreign purchasers of real estate in Dubai last year, Dubai-based brokerage Betterhomes reported, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/dubai-property-price-rises-seen-slowing-further-2023-betterhomes-2023-01-15\/\" style=\"\">Reuters.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\">When fast and slow fashion collide:<\/span><span style=\"\"> The Spanish town of A Coruna is home to a <\/span><span>growing collection of sustainably-conscious boutique labels and the world\u2019s biggest fast fashion retailer, Zara-owner Inditex. While the boutiques focus on producing high-quality, durable products through limited collections, Inditex produced over <\/span><span>56<\/span><span>5k tons of garments in 2021, reports <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/home-zara-fast-slow-fashion-collide-2023-02-28\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">. The excessive output has driven the European Commission\u2019s pledge to reverse the overproduction and overconsumption of garments by making all clothes sold in the EU bloc long-lived and recyclable by 2030. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Some 5.8 mn tons of textiles are thrown away every year in the European Union,<\/span><span style=\"font-weight:400;\"> which is about 11 kg per person. Statistics from the EU show that every second, one truckload of textile products is thrown away in landfills or burned. EU regulators want to cut wasteful production and will announce proposals to limit the manufacturing of surplus garments by the end of March.  However, these will only come in the form of suggestions. Instead of imposing regulations, the EU will ask businesses to self-regulate in order to earn the sustainable label.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Zara\u2019s owner wants to combine high output with environmentally friendly processes: <\/span><span style=\"font-weight:400;\">Inditex claims that its priority is to rethink its processes rather than its output, allowing the company to continue releasing new ranges on a regular basis with minimal environmental impact. \u201cIt\u2019s not a question of how much (is manufactured),\u201d Inditex told Reuters, \u201cbut of how.\u201d  The company is reportedly aiming for net zero emissions by 2040 and is producing organic fiber garments. Meanwhile, for the smaller shops in A Coruna, reducing pollution is a key part of doing business. Stores prioritize low-emission collections and charge online customers for returns. And many are run by former Inditex designers and sales staff. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Could Dubai soon dethrone New York as the luxury real estate market king? As wealthy investors flock to the UAE city for a safe haven from geopolitical and economic uncertainty, its luxury real estate market has become the busiest in the world after New York, Los Angeles, and London, Bloomberg reported. There were 219 transactions [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":583465,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[163,633,638,368,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-dubai","tag-enterprisepm","tag-for-your-commute","tag-sustainability","tag-uae","wpautop","entry"],"acf":{"mongo_id":"b8d588c6-b367-479c-afb6-9fce3297831b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/Dubai-1600-px-1.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[583460],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.262cb47f-6b8f-4dfc-944b-926b8c34281e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Dubai\u2019s luxury property market is heating up + Can fast fashion be slowed down? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/dubais-luxury-property-market-is-heating-up-can-fast-fashion-be-slowed-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai\u2019s luxury property market is heating up + Can fast fashion be slowed down?\" \/>\n<meta property=\"og:description\" content=\"Could Dubai soon dethrone New York as the luxury real estate market king? As wealthy investors flock to the UAE city for a safe haven from geopolitical and economic uncertainty, its luxury real estate market has become the busiest in the world after New York, Los Angeles, and London, Bloomberg reported. 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market","author":"enterpriseam admin","date":"30 November 2022","format":false,"excerpt":"The booming markets for luxury properties: Dubai, Madrid, Dublin, Lisbon, LA: Dubai\u2019s property boom could be reaping its benefits soon, with prices of luxury properties in the city forecast to grow by 13.5% in 2023 amid a rising interest by foreign buyers, Bloomberg reports, citing a report by Knight Frank\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/758.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582171,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/dubais-luxury-property-market-is-booming\/","url_meta":{"origin":583464,"position":1},"title":"Dubai\u2019s luxury property market is booming","author":"enterpriseam admin","date":"2 March 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Luxury residential prices in the city soared\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Dubai-real-estate-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548516,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-first-half-of-the-year-was-good-for-ma-in-egypt\/","url_meta":{"origin":583464,"position":2},"title":"The first half of the year was good for M&#038;A in Egypt","author":"enterpriseam admin","date":"11 August 2022","format":false,"excerpt":"Egypt has been a MENA M&A hotspot so far in 2022: Egypt recorded 65 M&A transactions worth USD 3.2 bn in the first six months of the year, making it the second-largest M&A destination in the region by value and dealcount, according to a report from EY.2022 > 2021: This\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/213.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564403,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/30\/wild-pcr-costs-are-putting-travelers-off-luxury-safaris\/","url_meta":{"origin":583464,"position":3},"title":"Wild PCR costs are putting travelers off luxury safaris","author":"enterpriseam admin","date":"30 August 2021","format":false,"excerpt":"Planning a remote destination vacation? You might have to shell out four-figures USD for a covid test: Getting the necessary PCR tests for travel to the world\u2019s most remote luxury tourist destinations is a big hassle that comes with an even bigger price tag, Bloomberg reports. For travel agents, tour\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572737,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/07\/egypt-remains-most-active-vc-market-in-mena-in-1h2020-magnitt\/","url_meta":{"origin":583464,"position":4},"title":"Egypt remains most active VC market in MENA in 1H2020 -Magnitt","author":"enterpriseam admin","date":"7 July 2020","format":false,"excerpt":"Egypt remained the most active venture capital market in MENA during 1H2020 with 25% of all transactions in the region, according to the 1H2020 update to Magnitt\u2019s MENA Venture Investment Report. Egypt\u2019s share remained unchanged from the startup platform\u2019s full-year 2019 data, but edged up 2% from data collected during\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/42.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672958,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/egypt-is-becoming-a-hot-spot-for-ultra-wealthy-property-investors\/","url_meta":{"origin":583464,"position":5},"title":"Egypt is becoming a hot spot for ultra-wealthy property investors","author":"enterpriseam admin","date":"2 October 2025","format":false,"excerpt":"High-net-worth individuals from around the world are showing serious interest in the country\u2019s residential and commercial properties","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/120.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/583464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=583464"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/583464\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/583460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/583465"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=583464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=583464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=583464"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=583464"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=583464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}