Our Chairman of the Board, Bayram Tekçe, appeared as a guest on the program “Para Ekranı,” hosted by Şafak Tükle on CNBC-e, where he evaluated the impact of one of the most pressing recent developments—the US & Israel–Iran conflict—on Dubai’s real estate sector. Drawing attention to the decline in the Dubai real estate index, Tekçe stated that the perception of the region as a “safe haven” has been weakened, and that the market is currently in a “wait-and-see” mode. He also noted that if the conflict persists, this cautious stance may give way to an environment where investor appetite weakens.

Key highlights from the broadcast:

• The frequently mentioned 25% decline in Dubai housing prices reflects not actual property prices, but rather the real estate index—namely transaction volume and fast-reacting market dynamics. There has been no decline of this magnitude in actual prices.
• According to current data, residential property transactions in Dubai have decreased by approximately 50% since the beginning of the conflict. If the conflict continues, transaction volumes may decline further in the coming months.
• In an environment where demand is weak, discussing prices is not particularly meaningful. The 10%–15% discounts seen in listings reflect only about one-third of the market, rather than the overall market.
• Dubai’s housing market is currently in a “wait-and-see” phase. If the conflict is prolonged, it may become difficult to regain the recent investment momentum. On the other hand, if the conflict comes to an end, real estate investors may quickly return to Dubai.