Dubai’s real estate market is witnessing robust demand thanks to the wealthy people of Arab countries.

Dubai's real estate market is experiencing a remarkable recovery due to the influx of wealthy individuals fleeing the currency turmoil in Turkey and Egypt. In response to this recovery, one Dubai real estate developer is building what is expected to be the tallest residential tower in the world and is looking to expand its project in the emirate.

Mohammed Bingatti, chairman of Bingatti Properties, revealed in an interview that the company plans to build about 12,000 residential units in Dubai over the next two years, in addition to the 9,000 units currently under construction. He explained that the construction investment over the next 18 months will amount to approximately $1 billion.

Bingatti noted that many investors in the company's projects have moved some of their money overseas to protect their assets due to currency fluctuations, as they missed the opportunity to take advantage of the significant growth in Dubai's real estate market.

Bingatti added that the number of Turkish and Egyptian buyers in the company's projects has increased by 20% compared to last year, making them among the largest international buyers of Bingatti's properties.