Chinese Social Media’s Impact on Dubai Real Estate
The surge in Dubai’s real estate interest is notably driven by a Chinese social media platform similar to TikTok, named Douyin.
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There’s a growing fascination with Dubai’s real estate among Chinese investors, spurred by Douyin. This platform is connecting buyers and sellers in China with the profitable real estate opportunities in Dubai, the UAE, and the broader Middle East.
A new whitepaper by Nativex, a leading global digital marketing agency, highlights the increasing attention Chinese investors are paying to the real estate markets in the UAE and Saudi Arabia.
Douyin has positioned Dubai real estate in the spotlight, evidenced by a boost in views and interaction on the platform.
The whitepaper titled “Unlocking the Power of Douyin: A Guide for Real Estate Marketers” sheds light on marketing strategies tailored to the Chinese market. It emphasizes the importance of using Douyin’s features for targeted and culturally relevant marketing campaigns, allowing for effective penetration into the Chinese market and engagement with its discerning real estate investors.
Dubai’s prominence on Douyin is clear, with its real estate content being highly viewed and engaged, ranking behind only Japan, the US, Thailand, and South Korea.
Significant Demand Surge in Dubai’s Residential Real Estate Market
The interest is not limited to Dubai; other markets like the UK, Australia, Canada, and Singapore are also emerging as attractive investment destinations for Chinese buyers. This interest is backed by active participation in online communities, where buyers share insights and use search tools to understand the intricacies of international real estate investment.
Data from Ocean Engine, Douyin’s marketing arm, supports this trend, showing a marked increase in searches related to the UAE and Saudi Arabia from September 2023 to March 2024.
This rising interest is partly attributed to the strengthening economic relationships between China, the UAE, and Saudi Arabia, including their inclusion in the BRICS economic bloc and partnerships related to China’s Belt and Road Initiative, which are seen as enhancing foreign direct investment and the expansion of Chinese businesses in the Gulf.
Douyin’s Strategic Importance in Real Estate Marketing
Douyin has become a critical platform for real estate marketing, with 80% of China’s top 200 real estate developers active on the platform as of December 2022. Douyin, leveraging its massive user base and engagement rates to bolster their online operations. With over 410,000 business accounts and more than 160m followers, Douyin presents an unparalleled opportunity for real estate brands to engage with potential buyers effectively.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
A bold new corporate restructure to achieve its ambitious $27 billion portfolio goal
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Omniyat, a distinguished name in Dubai’s ultra-luxury real estate sector, has embarked on a transformative journey by unveiling a new corporate structure under the newly formed Omniyat Group. This strategic move aims to unify and drive success across its various branded companies, setting an ambitious target of a AED100 billion ($27 billion) total group portfolio over the next five years.
This announcement signifies a pivotal moment for Omniyat Group, reaffirming its dedication to reshaping the real estate landscape not only in Dubai but across the broader region. As part of its growth strategy, Omniyat plans to significantly expand its footprint in the ultra-luxury real estate segment, aiming for a total portfolio value of AED50 billion.
Established in 2005 by Executive Chairman Mahdi Amjad, Omniyat was conceived with the vision of revolutionizing the Dubai property market through the creation of unique living experiences. The company has consistently elevated the standards in real estate, driven by a policy of strategic diversification that has enabled it to explore various market segments.
In line with this strategy, Omniyat Group is set to announce a new real estate company in Q3 2024. This new venture will be part of a commitment to invest AED50 billion in new real estate divisions targeting multiple market segments. This initiative underscores Omniyat’s ongoing commitment to understanding market demands and delivering on its bold vision to be “the best in class, in every class.”
By continuously evolving and adapting to market needs, Omniyat Group stands poised to lead the future of real estate in the region, setting new benchmarks in luxury and innovation.
Commenting on the launch, Amjad said: “Nineteen years ago, I founded Omniyat with a clear mission to achieve the unprecedented in Dubai’s real estate sector. A city of superlatives, Dubai is globally renowned for its remarkable story of progress and achievement, and we wanted to bring iconic projects to Dubai’s skyline that stood apart for their design, innovation, and artistry.”
“Encouraged by the UAE’s robust growth and long-term vision and inspired by the success of our ultra-luxury brand, I am establishing Omniyat Group to invest in other brands and companies to address different segments of the UAE’s strong growing real estate market with an uncompromising principle of ‘Best in class, in every class’ we address.”
“Today, Omniyat Group has been announced to drive forward our mission to elevate the people at the heart of our business and contribute to a better life and environment for all stakeholders, employees, clients, and their loved ones,” he stated.
“Guided by an unwavering commitment to excellence, we will continuously strive to raise standards and curate experiences that make life better, in every sector we engage in,” he added.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
