The DFM Real Estate Index (DFMREI), which reflects the dynamics of real estate companies’ shares on the Dubai Financial Market, fell by 4.71% to 13,359.61 points on Monday, March 9, reaching a daily low of 13,353.18 points, according to exchange statistics.
Over the last five trading sessions, the index has fallen by about 17%, which is close to estimates on social media of “about 20%,” but according to aggregated market data, the decline is actually about 17%.
At the same time, the Dubai market’s broad index (DFMGI) continued to decline amid the US and Israel’s war with Iran and growing nervousness over risks to logistics and infrastructure.
Against the backdrop of the UAE’s deteriorating perception as a “safe haven,” some wealthy clients are already considering moving their assets from Dubai to other financial centers. A number of wealthy Asian clients have made inquiries or taken steps to transfer funds to Singapore and Hong Kong, fearing a protracted conflict and rising risk premiums.
At the same time, market participants surveyed by Reuters emphasize that DFMREI is an exchange indicator (shares of developers and related companies) and can react much faster than the physical housing market, where price changes are recorded with a delay based on transaction data.
Dubai’s real estate market, which ended 2025 with record figures, may face a temporary slowdown in demand in early 2026 amid military escalation between the US, Israel, and Iran, but experts do not expect prices to collapse yet.
In 2025, real estate sales in Dubai were estimated at $187 billion, with more than 215,000 transactions. Investors from India, the UK, and Russia were identified as key buyer groups, while in early 2026, some investors took a wait-and-see approach.
Among the factors putting pressure on the market, analysts highlight reports of incidents in landmark locations and the impact of transport restrictions: temporary disruptions and closures of air hubs reduce the influx of foreign buyers and complicate transactions, especially in a segment that depends on quick visits and viewings.
At the same time, prior to the current escalation, price dynamics remained positive: according to REIDIN, in January 2026, the Dubai residential sales price index rose by 0.75% compared to the previous month and by 11.79% year-on-year, indicating continued inertial growth at the onset of the crisis.
Market participants admit the possibility of a “pause without a fall” scenario if the hot phase ends quickly, but warn that a protracted conflict could severely affect liquidity and lead to a more noticeable correction, primarily in the most sensitive segments and locations.
Construction has begun in Dubai on one of the world’s most unusual residential skyscrapers, the Muraba Veil tower, which will be approximately 380 m high and only about 22.5 m wide, meaning that it will essentially be a single apartment along the facade. The project is being implemented by the developer Muraba in collaboration with the Spanish firm RCR Arquitectes, winner of the 2017 Pritzker Prize. The tower will be a 73-story residential building with 131 luxury apartments ranging from two to five bedrooms, each occupying the entire width of the floor and offering panoramic views of Dubai and the canal.
The main visual motif of Muraba Veil is a metal “veil.” The facade will be wrapped in a translucent shell of perforated stainless steel that filters sunlight and reflects the changing color of the sky throughout the day. According to the architects’ concept, this is a modern interpretation of the traditional Arabic mashrabiya lattice, which provides both privacy and natural shading.
The layouts are inspired by the typology of the classic Arab house: from the outer layer with bedrooms and terraces, the space gradually transitions to a cooler “inner core” where common areas and landscaped courtyard oases are located. This allows for a natural reduction in temperature and less strain on air conditioning systems.
Muraba Veil is being built next to Sheikh Zayed Road and faces the Dubai Water Canal, in one of the city’s few truly pedestrian-friendly areas, with promenades, running and cycling paths, cafes, and quick access to Kite Beach.
The project will be the fifth joint venture between Muraba and RCR Arquitectes and is scheduled for completion by December 2028. The starting price for apartments in Muraba Veil is announced at 18 million dirhams (about $4.9 million), which automatically places the project in the super-premium housing segment and secures its status as one of the most expensive addresses in the emirate.
Muraba Veil fits into Dubai’s long-term strategy to strengthen its status as a world leader in high-rise and landmark construction. The city already boasts the world’s tallest building, the Burj Khalifa, and the recently announced second tallest skyscraper, the Burj Azizi; Dubai also has the highest concentration of towers over 300 meters in the world.
Dubai authorities are again talking about launching a flying cab service. It is expected that such transport will work by 2026.
Talks about flying cabs have been going on in the UAE commercial capital famous for its architectural wonders since 2017, a number of companies intend to participate in the implementation of the project.
The head of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, recently announced the relaunch of a program to develop flying cabs. This time, in a commercial, Dubai introduced an electric flying cab created by Joby Aviation of Santa Cruz, California.
Previously, the EHang 184 and XPeng X2 made in China, as well as an electric Volocopter from Germany, were also shown in Dubai.
According to Ahmed Bahrozian of the emirate’s Roads and Transportation Authority, implementation of the plan “is still just beginning.” “We have not yet signed a contract with any partner,” he specified.
According to the published program, the city plans to create four “vertiports”: near Dubai International Airport, the world’s busiest, near downtown Dubai, the Palm Jumeirah Archipelago and Dubai Marina. These points will include two launch pads and four charging points for flying cabs.
“We believe that these are attractive areas with business and tourist price-tracks that can be in demand,” Bahrozian noted.
According to him, the prices for flying cabs “will be the same as limousines in Dubai, maybe a little higher. Right now, limousines cost about 30 percent more than a regular cab, with a minimum cost of about $3.25 or $0.50 per kilometer.
According to the plan, manned flying cabs would be used first, rather than autonomous cabs as previously discussed. However, Bahrozian clarified that testing will continue with autonomous flying cabs as well.
Joby’s manned prototype with four passenger seats can fly more than 240 kilometers without recharging, making Abu Dhabi and other parts of the country within reach. It takes off and lands vertically, and its rotors tilt forward in flight. The machine has a top speed of 320 km/h.
The advent of flying cabs is expected to ease the traffic situation in the nearly 3.5 million-strong city, which has more than 1.8 million registered cars sharing the highway with cars from the other six UAE emirates.
SoftServe, one of the largest Ukrainian IT companies, opens a new office in Dubai to support clients in the Middle East region, the number of which is growing rapidly.
According to the press service of the company, the new office of the company is located in the business center Dubai Internet City.
SoftServe said that the company has been operating in the Middle East since 2018, supplying solutions for large business conglomerations in the areas of trade, finance and the energy sector. The Middle East today is a hub that is rapidly developing and attracting investment, and due to the increase in population, opportunities are opening up for activities outside the oil sector. Therefore, this region occupies a key position in SoftServe’s growth strategy.
“Today, we are seeing an increase in demand for software and digital transformation in this region and are pleased to be able to provide our expertise. Our new office will better serve and support our customers by developing innovations in the areas of artificial intelligence, machine learning, cloud solutions, and digital banking solutions. We expect to build long-term and sustainable relationships in the Middle East, providing the most relevant technological solutions and services. Our presence in the location is another evolutionary step in the development of key markets in the region,” the press service said, quoting Executive Vice President EMEA at SoftServe Volodymyr Semenyshyn.
According to the company, the new office of SoftServe in Dubai will offer clients a full range of services – from consulting to project management, implementation of solutions and their ongoing support. In addition to the business development direction, developers will also work in the office.
The company said that the Dubai office will become a place for frequent visits by employees, customers and partners. In general, in 2019-2020, 150 employees of the company traveled to the UAE for business purposes.
“SoftServe is partnering with Google Cloud, Amazon Web Services, Microsoft Azure to showcase expertise across the region that is recognized by global corporations – from cutting edge technology solutions, big data management, cloud architecture to AWS best practices for business and solutions based on Microsoft technologies,” SoftServe said.
SoftServe specializes in software production, development services, quality control and support of information systems and business solutions. To date, about 10,000 employees of the company work in 38 offices. The main offices of the company are located in Lviv and Austin (Texas, the United States). The company’s development centers are located in Lviv, Kyiv, Dnipro, Kharkiv, Rivne, Ivano-Frankivsk, Chernyvtsi, Sofia (Bulgaria) and Wroclaw, Bialystok, Gliwice and Warsaw (Poland).
Ukraine will participate in the world exhibition Expo-2020 in Dubai and will be represented at a high level, Ukrainian President Volodymyr Zelensky said in an interview with the Emirates News Agency WAM.
“We simply cannot miss such an important world event as Expo 2020. I would like to thank the UAE leadership for the fact that, despite all the difficulties associated with COVID-19, the construction of the Ukrainian pavilion was completed in December last year, and internal work is underway there. At the World Expo in Dubai, our country will be represented at the highest level,” Zelensky said in an interview with the Emirates News Agency WAM, published on the website of the President’s Office of Ukraine on Saturday.
Zelensky noted that the architectural image of the pavilion of Ukraine embodies the idea of an ear of wheat, which will be 15 meters high.
“Wheat is an important symbol for Ukrainians, and the yellow color on our flag symbolizes the wheat field and readiness to contribute to world food security,” the president of Ukraine stressed.
