Celebrities from around the world continue to invest in Dubai’s luxury real estate market, with Nabilla Leona Benattia-Vergara joining a lengthy list of previous investors.
Through Omar Naguib, the founder and CEO of ON Real Estate, Vergara—who is also the creator of the personal care company Nabilla Beauty—acquired a €5 million (more than Dh20 million) apartment in Damac Bay owned by Cavalli.
Vergara’s entrance is an example of a larger structural trend of international celebrities making more investments in Dubai’s coveted luxury real estate market. Numerous recent, trustworthy research have forecast that the industry would expand by more than 10% in 2023, outpacing other global markets, where growth is less likely to reach double digits this year, according to experts.
Located in Dubai Harbour, between Palm Jumeirah and Bluewaters Island, Damac Bay by Cavalli is a prime example of luxury real estate. The desirability of such branded residences is also owed to Dubai’s growing stature as an investment safe haven characterised by geopolitical stability, financial security, and sociocultural allure. Such attributes are incentivising high-net-worth individuals and celebrities such as Nabilla Vergara, who previously bought a luxury property in Al Barari.