The structural shift of the decade is direction. The Gulf has moved from exporting institutional capital to importing it, and 2026 is where that reversal becomes the base case. The regional market reached USD 141.2 billion in 2025, with the UAE holding 61.1%, and is projected toward USD 260.3 billion by 2034.
Who is buying Dubai
Nationality data is genuinely weak, because the DLD does not publish official buyer breakdowns, so treat percentage tables with caution. The defensible claims: India is the number one foreign buyer, with ANAROCK estimating USD 10 to 11 billion of Indian investment in Dubai residential property in 2025. The UK is surging, Russia is declining, and China is rebounding. Foreign nationals account for more than 70% of investment value, and investors made up 57% of Betterhomes buyers.
The millionaire magnet
Per Henley & Partners, the UAE is the number one destination globally for millionaire migration, with a record net inflow of 9,800 HNWIs in 2025, around USD 63 billion in investable wealth, ahead of the USA. The UK saw the largest outflow at minus 16,500. The UAE's dollar-millionaire count rose 98% over the decade to 130,500.
Institutional and luxury capital
The GCC REIT market was about USD 17.42 billion in 2025, with Saudi Arabia holding 58%. A large Dubai residential REIT listed on the DFM in 2025, backed by more than 35,000 units. At the top end, Knight Frank reports Dubai's USD 10m-plus luxury sales hit a record USD 9.05 billion, up 27.7%, with 500 homes sold above USD 10 million versus 30 in 2020. The story across every tier is the same: capital is moving in, not out.