In the past 50 years, Turkish citizens’ habits of investing abroad have developed significantly. According to official figures, Turks have invested nearly $60 billion overseas, creating employment for more than 190,000 people and controlling an annual turnover of around $100 billion. Today, however, their investment preferences are shifting and diversifying. Particularly, individual investors are increasingly favoring traditional safe-haven assets such as gold and foreign currency. It is estimated that Turkish individuals currently hold more than $700 billion in these forms, with approximately $500 billion invested in gold and $200 billion in foreign currencies. This demonstrates a major transformation in wealth management habits compared to previous decades. Alongside these traditional investments, Turkish investors have also identified a new international destination for their capital: Dubai, in the United Arab Emirates (UAE). Over the past two years alone, Turkish investors have poured approximately $5 billion into Dubai, a scale of engagement that has not been observed with any other foreign city or country before.

Traditionally, more than 10 million people of Turkish descent live abroad, predominantly residing in and contributing to the economies of developed Western countries such as Germany, France, the United States, and the United Kingdom. Historically, Turkish migration and investment patterns abroad were primarily driven by aspirations for better living standards and employment opportunities. However, the contemporary wave of Turkish investments in Dubai marks a significant departure from these past trends. Unlike previous movements focused on settlement and long-term residence, the new investments are largely profit-driven and transactional. Turkish investors are primarily acquiring real estate properties in Dubai not to relocate but to rent them out, benefiting from the city’s lucrative rental yields. After realizing substantial profits, many investors choose to liquidate their assets and convert their investments into cash.

This new investment strategy highlights a broader trend among Turkish investors: a more global, profit-oriented, and flexible approach to international investments, reflecting a deeper integration into global capital flows and a growing appetite for diversified, high-return opportunities. In 2024, Dubai witnessed real estate transactions amounting to approximately $207 billion. It is estimated that around $3 billion of this volume was generated by Turkish investors. Based on these figures, Turkish investors accounted for approximately 1.5% of all property purchases in the city.

Looking ahead, with projections suggesting that the real estate transaction volume in Dubai could reach $220 billion in 2025, it is reasonable to anticipate that Turkish investments in the city will continue to grow. The momentum from early 2025 is already evident: in the first quarter alone, real estate transactions in Dubai surpassed $40 billion, indicating sustained and robust interest from investors across the globe, including those from Turkey. These developments underline a significant and growing trend: Turkish investors are increasingly viewing Dubai not just as a short-term opportunity but as a key long-term investment destination. The scale and pace of Turkish investments in Dubai suggest that this trend is likely to intensify in the coming years.

As Parcel Estates, we share this optimistic outlook. We recognize the considerable potential that Dubai holds, especially as it continues to attract the highest number of new millionaires globally. This unprecedented influx of wealth into the city is further enhancing its appeal as an investment hub. Turkish investors, who are becoming more globally aware and opportunity driven, are increasingly recognizing Dubai's strategic advantages—its dynamic economy, investor-friendly policies, and high returns in the real estate sector. As a result, we expect Turkish investment flows into Dubai to expand significantly, contributing further to the city's vibrant and diverse real estate market.