Real Estate

Rich Russians fleeing sanctions are pumping up Dubai’s property sector


Dubai is seeing its hottest real estate market in years, with sales in the sector up 45% year on year in April and 51% in May, according to the Dubai Land Department.

DUBAI, United Arab Emirates – The team at Dubai property firm Mira Estate have reason to celebrate. 

The luxury real estate company just clocked a 100% year-on-year increase in sales to buyers from Russia and other former Soviet states in the first half of 2022.

Property sales to these nationals for the firm, which specializes in Russian-speaking clients, doubled year on year to 2 billion dirhams, or $500 million, according to a company press release issued this week. 

In a swanky Dubai nightclub in May, Russian real estate…


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