Dubai Property Firms Hit Miami and Sydney After 70% Boom at Home

A Sobha Realty advertisement near residential skyscraper buildings in Dubai.Photographer: Natalie Naccache/Bloomberg

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By Zainab Fattah

July 10, 2025 at 4:41 AM EDT

Updated on

July 10, 2025 at 9:23 AM EDT

Developers in Dubai are expanding abroad in search of growth, a move that helps them use the cash piles they’ve built up and offers a cushion in case of any potential slowdown at home.

Sobha Realty, a Dubai-based developer owned by a tycoon from India, is preparing to construct about 800 single family homes in Dallas as part of a broader expansion in the US. The company, which made billions selling apartments and townhouses near the world’s tallest tower in Dubai, is also looking to expand to Australia and the UK.