Bassel Alhamra Discusses Dubai’s Real Estate Prospects for 2025

Dubai is no longer content with being just one city. Under the 2040 master plan, it’s transforming into five distinct urban centers, each with its own character and purpose. Bassel Alhamra, who has spent years navigating Dubai’s property market, explains how this ambitious vision is unfolding. “The financial city will be mainly downtown and the surroundings, which is the Dubai International Financial Center today,” Bassel says. The plan also encompasses a dedicated tourism zone, including Dubai Marina and Palm Jumeirah, while the former Expo 2020 site is being reborn as Expo City – currently one of the market’s hottest areas.

Why Expo City is Drawing Major Investment

Developers are flocking to Expo City with unprecedented enthusiasm. “Investments are going there – developers are launching aggressively. We’ve never witnessed this back-to-back launch,” Bassel notes. The area is particularly appealing because it offers lower entry points for investors, mirroring the opportunities seen in downtown Dubai and Marina 15 years ago.

What makes Expo City especially promising is the massive infrastructure planned around it. “They are building one of the biggest airports in the world – Al-Maktoum Airport. The city will be everything related to logistics and trading,” Bassel explains. “As of today, there is nothing except two communities already built there and a lot of empty spaces, which is coming year after year.” However, Bassel cautions that this is a medium to long-term play: “It’s not less than 10 years from today because you need all infrastructure to be ready. Currently, there aren’t schools or hospitals. People living there need at least 25 to 30 minutes to reach the main city.”

Introducing the Region’s First Casino

Perhaps the most surprising development isn’t in Dubai proper but in neighboring Ras Al Khaimah, where the region’s first casino is under construction. “In Gulf countries, as Islamic countries, casinos were prohibited. We’ve never thought about something like this,” Bassel shares. “They’ve already got the license, and construction is more than 50% complete.”

While the casino itself will be in Ras Al Khaimah, Bassel believes Dubai will benefit significantly: “Dubai will stay the business hub. I don’t think anyone will visit Ras Al Khaimah from anywhere in the world. If they come to UAE, they will visit Dubai.” He draws a parallel with the 2022 World Cup in Qatar, where many visitors chose to stay in Dubai while attending matches.

Population Growth and Housing Demand

The numbers tell a compelling story about Dubai’s growth trajectory. “The population of Dubai will increase from 3.5 million or 3.7 million at the moment to reach up to 6 million people by 2030,” Bassel reveals. This 70% population surge means the current housing supply falls well short of projected demand.

Competition among developers has dramatically raised the bar for new projects. “The new launches, even the regular buildings, what we call in Dubai – it has amenities more than a resort or hotel,” Bassel explains. “Minimum 20 amenities for residents living there, including tennis court, paddle court, instead of one swimming pool you will have two or three, barbecue area, cinema – all these stuff are becoming standards. You cannot go below this.” Dubai’s future isn’t isolated – it’s increasingly connected to regional developments. “When we talk about the Gulf, you have Saudi Arabia, Riyadh now doing very well,” Bassel notes. “Once these are connected, it will be similar to a small Europe. It’s a one-hour flight from city to city. Sometimes, you can reach it by car in 7 – 8 hours.”

Market Outlook for 2025

Bassel remains optimistic about Dubai’s immediate future: “We will stay booming at least until mid or end of 2025 because we don’t have much supply coming to the market. We are still in shortage, and we have exciting projects happening – big names are entering the market. We will hear about fashion brands getting into the residential part, like international ones, the biggest ones.”

While acknowledging that corrections are natural in any market, Bassel emphasizes the strong fundamentals supporting Dubai’s growth: “We will face corrections at some point – there is nothing which will keep going up. So it will be ups and downs, but the full trend is upwards.”

For investors interested in Dubai’s real estate market, Bassel recommends thorough research and working with experienced local agents who understand market dynamics. Those interested in learning more about Dubai real estate opportunities can visit Bassel’s website or contact him through his LinkedIn profile.