Russians have helped make Dubai’s property market red hot—again
High energy prices and a Russian influx mean rents and prices are soaring
Too much good news can be a bad thing. Dubai, the commercial capital of the United Arab Emirates (UAE), has had lots of the former in the past two years. Lax restrictions during the pandemic lured expats. Russia’s invasion of Ukraine brought another influx of new residents.
This article appeared in the Middle East & Africa section of the print edition under the headline “Up and out”
From the April 8th 2023 edition
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