Celebrities from around the world continue to invest in Dubai’s luxury real estate market, with Nabilla Leona Benattia-Vergara joining a lengthy list of previous investors.
Through Omar Naguib, the founder and CEO of ON Real Estate, Vergara—who is also the creator of the personal care company Nabilla Beauty—acquired a €5 million (more than Dh20 million) apartment in Damac Bay owned by Cavalli.
Vergara’s entrance is an example of a larger structural trend of international celebrities making more investments in Dubai’s coveted luxury real estate market. Numerous recent, trustworthy research have forecast that the industry would expand by more than 10% in 2023, outpacing other global markets, where growth is less likely to reach double digits this year, according to experts.
Damac Bay by Cavalli is a premier example of opulent real estate and is situated in Dubai Harbour, between the Palm Jumeirah and Bluewaters Island. Such branded houses are in high demand due to Dubai’s rising status as a sanctuary for investors that combines geopolitical stability, financial security, and social attraction. Celebrities and high net worth individuals like Nabilla Vergara, who previously purchased a luxury property in Al Barari, are encouraged by such features.
“Multilingual advisory, exclusive access, and seamless transactions and documentation process continue to influence purchase decisions in Dubai’s luxury real estate segment,” Naguib said. “Those factors are the foundation of our continued business relationship with Nabilla Vergara.”
According to Vergara, Dubai has taken a strategic place in the global economy, enticing people from various backgrounds, professions, and cultures to think about relocating there in the long run. “Dubai gives me a feeling of home. The city has steadily, favourably, and greatly influenced both my lifestyle and economic possibilities ever since I initially set foot here. Thus, purchasing a property in Dubai as I begin my next phase of life was a practical choice, keeping in mind the welfare of my family.
