Dubai’s property market has experienced sharp losses as Iranian missile strikes across the Gulf region triggered economic uncertainty following the outbreak of a U.S.-Israeli-led war against Iran late last month.
The Dubai Financial Market Real Estate Index (DFMREI) has fallen by roughly 30 percent since Feb. 28.
The index, which stood at 16,140 on Feb. 28, declined to around 11,500 by the close of trading on Friday, marking its lowest level since April 2025.
Since Israel and the US launched joint attacks on Iran on Feb. 28, killing some 1,200 people, including then-Supreme Leader Ayatollah Ali Khamenei, hostilities have escalated.
Iran has retaliated with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf countries hosting U.S. military assets.
Last week, U.S. banking giant Citi, consultancies Deloitte and PwC, as well as other firms closed their offices or told employees to leave, mainly in the Dubai International Financial Centre (DIFC).
