Netflix star Daniel Daggers referred to Dubai’s market as a “sweet shop,” stating there would still be growth “but perhaps not in price values”
Describing Dubai’s thriving real estate market as both “exciting and intense,” renowned property expert Daniel Daggers has advised buyers to tread carefully in one of the world’s most dynamic luxury property landscapes. Widely recognized as “Mr. Superprime,” Daggers shared his perspective on Dubai’s fast-evolving market in an exclusive discussion with Arabian Business.
Daniel Daggers, the founder of high-end real estate firm DDRE Global, is celebrated for managing some of the most prestigious property transactions worldwide, with a career total exceeding $6 billion. Featured on the hit Netflix series Buying London, Daggers and his firm have played key roles in Dubai’s real estate, brokering several high-value deals, including two recent sales surpassing $30 million and $40 million, as he revealed during the interview.
“Dubai is a relatively new destination for many of our clients,” Daggers explained. “They need a trusted advisor to navigate this complex and rapidly changing market. That’s where DDRE Global steps in – providing expertise in a market that’s both ‘exciting and intense.’”
Dubai’s real estate surge has drawn parallels to major global markets such as London, New York, and Miami. Daggers pointed out that the top-tier properties in Dubai are now priced as high as $3,500 per square foot, indicating that the market might be nearing a peak. “When you compare Dubai’s property values to those in London, the latter starts to seem more reasonable,” he observed. “That’s often an indication that a market is approaching its peak.”
Despite this observation, Daggers remains optimistic about Dubai’s long-term potential, citing its appealing lifestyle, tax benefits, and excellent global connectivity. While he anticipates a moderation in price growth, he believes there are exciting opportunities in emerging niches and untapped market segments within the city.
“Do I think there’s still room for growth? Absolutely,” he remarked. “But it might not be in price hikes. Instead, we’re likely to see diversification and new opportunities arise across Dubai.”
Referring to Dubai’s property sector as a “sweet shop,” Daggers compared the variety in the market to an array of chocolates. “When you walk into a sweet shop, there are so many chocolates to choose from, and it’s easy to get tempted by all the colorful wrappers. What you really need is someone to guide you on making the right choice.”
For buyers entering this fast-paced market, Daggers shared a simple yet crucial tip: proceed with care. “Markets don’t rise forever,” he cautioned. “I would urge buyers to be very thoughtful about their purchases.”
Daggers’ involvement in Dubai’s real estate scene gained further attention through Buying London, where his firm, DDRE Global, was showcased. He highlighted that bringing the show to Dubai was a strategic move to demonstrate his company’s ability to thrive in one of the most significant real estate markets globally.
“We had the option to go anywhere,” Daggers stated. “The US, Switzerland, Italy – all were possibilities. But Dubai stood out as a crucial destination because a significant portion of our client base is international, and we’re a global business. Dubai’s relevance as a hub for the super-prime market made it a natural choice.”
“Doing business in Dubai is enjoyable but also incredibly competitive,” he continued.
Daggers emphasized Dubai’s significance as a magnet for wealth and a nexus for global capital flows. “Dubai is not just a destination for wealth but also a crossroads for financial movements globally. The Middle East as a whole is immensely important, and Dubai plays a pivotal role in this region.”
“And no,” he added with a laugh, “it’s not just about getting a better suntan in the middle of the year.”
