### The Future of Real Estate in Dubai: Insights from Ainsley Duncombe
In a recent appearance on **Arabian Business’** AB Majlis podcast, Ainsley Duncombe, the founder of **Off Market Listing Dubai**, shared transformative insights about the direction of the property market in Dubai. His predictions indicate that technology, particularly artificial intelligence, is set to radically alter how real estate agents operate in this vibrant emirate.
### The Tech Revolution in Real Estate
Duncombe posited that technology will fundamentally reshape the real estate landscape. “Tech is going to play a massive role in terms of real estate in the region and in Dubai,” he stated. His bold prediction suggests that within the next 12 to 18 months, up to 90% of real estate brokers may find their current roles obsolete. This drastic transformation echoes the upheaval witnessed in the taxi industry with the rise of services like Uber. He further noted that agents in the high-end luxury segment might be the least affected, hinting at a future where only a smaller, specialized group will continue to operate in traditional roles.
### The Impact of AI on Buyer Behavior
Duncombe, who boasts an impressive 17 years in Dubai’s real estate market, highlighted how AI is expected to enhance buyer behavior and broker operations. “Moving forward, we’re going to see a lot more educated consumer,” he explained. He noted that future property seekers would utilize AI not just for basic inquiries but to create detailed property requirements tailored to their specific needs. This shift signifies a movement towards a more informed consumer base, which will demand a different kind of engagement from brokers.
### The Data Dilemma for Brokers
One of Duncombe’s key observations revolves around the sheer volume of data in the market. He stated, “There’s not a broker in the country, myself included, that can give you all the stats on 100 units, or 5,000 units or 50,000 units.” This data overload is an area where AI will prove invaluable, enabling clients and brokers alike to make informed decisions based on comprehensive data analytics—a feat no human broker can manage efficiently.
### The Evolving Role of Brokers
Despite the impending changes brought on by technology, Duncombe is firm in his belief that the role of brokers won’t disappear entirely. He clarified, “You are always going to need a broker,” though their functions will significantly evolve. As the market adapts, brokers will likely transition into more specialized advisory roles, focusing on providing specific insights and support as AI handles the more cumbersome data-heavy tasks.
### Wealth Migration to Dubai
Duncombe also touched on a notable trend in the property market: the unprecedented wealth migration towards Dubai. The emirate is witnessing a surge in inquiries from potential inhabitants looking to relocate. In his extensive career, he has observed an increase in this interest, which he believes will further stimulate the property market and create new opportunities.
### Emerging Opportunities in Ras Al Khaimah
When asked about future investment opportunities, Duncombe expressed enthusiasm for Ras Al Khaimah’s property market, where he has personally established investments. He underscored the allure of the exclusive **World Islands development**, describing it as “a gated community in the ocean,” conveniently located just nine minutes by boat from mainland Dubai. This type of development reflects a growing trend toward unique, luxury living experiences that cater to high-net-worth individuals.
### Ainsley Duncombe’s Vision
Duncombe’s venture, **Off Market Listing Dubai**, aims to specialize in properties not publicly listed, serving a niche market comprised mainly of high-net-worth individuals and celebrities seeking discretion in their property dealings. By focusing on exclusive listings, Duncombe’s company is positioned to thrive amid the shifts expected in the real estate landscape due to technological advancements.
### Stay Tuned with AB Majlis
For those interested in keeping pace with the evolving real estate market and doing business in the Gulf region, the AB Majlis podcast offers a wealth of insights. Tune in every Monday to gain a deeper understanding of the dynamic economic landscape and emerging opportunities in the Gulf. You can listen to the full episode [here](https://rss.com/podcasts/abmajlis-arabianbusiness/1995225/) and explore more exclusive content from **Arabian Business**.
