Dubai: Top global influencer buys luxury real estate for Dh20 million

Dubai’s luxury real estate segment continues to find takers among global celebrities, with famous French influencer Nabilla Leona Benattia-Vergara joining a long list of investors.

Vergara, also the founder of personal care brand Nabilla Beauty, scooped up a €5-million (over Dh20 million) penthouse in Damac Bay by Cavalli through Omar Naguib, founder and CEO of ON Real Estate.

Vergara’s entry exemplifies a bigger structural trend of global celebrities increasingly investing in Dubai’s sought-after luxury real estate segment. Many recent, reliable studies have predicted the segment to grow further in 2023 by over 10 per cent — higher than other global markets where growth, according to experts, is less likely to reach double digits this year.

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.

“Multilingual advisory, exclusive access, and seamless transactions and documentation process continue to influence purchase decisions in Dubai’s luxury real estate segment,” said Naguib. “Our continued business relationship with Nabilla Vergara is predicated on those factors.”

Vergara said that Dubai has positioned itself strategically in the global economy, encouraging people across cultures, ethnicities, and professions to consider the city in the context of their long-term aspirations and residency. “I ascribe a sense of home to Dubai. Ever since I first set foot here, the city has steadily, positively, and immensely contributed to my business prospects and lifestyle. So, as I enter the next phase of my life, bearing in mind the well-being of my family, buying a property in Dubai was a pragmatic decision,” Vergara said.

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