Recently read an article on the UAE being ranked in the top 10 for financial secrecy in the latest annual assessment conducted by the London-based Tax Justice Network.
"Broadly speaking, much of the money gets funneled into property, according to bankers and illicit finance experts who monitor the market. Some two-thirds of Dubai’s $35 billion of home purchases were bought with cash in the latest one-year period, according to researcher Reidin.com. Buyers from Russia to Iran, the U.K. and India have snapped up everything from beachside villas to entire blocks of luxury apartments." - Washington Post
Dubai’s luxury home market will continue to see high demand in 2022, supported by rising interest from international investors - Russian and Ukrainian buyers, according to Zoom Property Insights.