As global wealth escalates, the demand for luxury properties, commercial spaces, and investment opportunities follows suit. In 2023, Dubai maintained its position as the top global destination for greenfield foreign direct investment (FDI) projects for the third year in a row, outperforming cities such as Singapore and London, with a capital attraction of approximately Dh39.3 billion ($11 billion). As a reflection of Dubai’s status as a hub for luxury living, PRIME by Betterhomes initiated the 'Dubai’s Top 50 Homes' competition in 2022. This esteemed event provided a stage to exhibit the zenith of luxury real estate, revealing fifty of the city’s most outstanding residences to an international audience, attracting over 20,000 participants in the previous year. This underscores the intense interest and curiosity surrounding the luxury properties available in Dubai. Recent figures from PRIME by Betterhomes emphasize Dubai’s allure to high-net-worth individuals, with transactions exceeding Dh15 million increasing by 30 percent in the first quarter, highlighting Dubai’s status as a leading destination for luxury residences globally. The increase in global wealth creation has markedly influenced Dubai’s real estate market. As wealthy individuals look to diversify and safeguard their assets amidst geopolitical instability, Dubai has risen as a preferred location. The UAE has attracted 99,000 millionaires, with over 72,000 residing in Dubai, as per the recent World’s Wealthiest Cities Report 2024 by Henley & Partners. This city now holds the highest concentration of affluent individuals in the Middle East, with a combined net worth surpassing Dh3.7 trillion ($1 trillion), making it unsurprising that the Dubai’s Top 50 Homes competition has garnered numerous nominations for luxury homes featuring exceptional architecture and distinctive interior design. Louis Harding, Managing Director at PRIME by Betterhomes, commented: “I can’t imagine a city more fitting to host a competition that highlights and honors the finest in residential interior design and luxury living. We are delighted to receive all the nominations and expect that this year’s entries will mirror the extraordinary advancements in this sector over the past year, with an increase in both the quantity and quality of properties displayed.” We encourage visionary architects, skilled interior designers, and proud homeowners to submit their homes or interior design projects to the Dubai’s Top 50 Homes Competition.