Gulf war-risk premium hasn't broken the safe-haven bid
Houthi-claimed strikes on Saudi Aramco sites (3 and 5 Oct) keep Brent near $105 and UAE Murban toward $110. Yet Dubai's Q1-26 transactions hit a record AED252bn, up 31% YoY, with foreign investment alone at AED148.35bn.
Sources: Trading Economics, Dubai Land Department
Each shock has pushed a different buyer into Dubai
Russian/CIS capital after 2022, Pakistani buyers on rupee pressure, Egyptian and Turkish buyers hedging weak currencies. The pattern is directional, not quantified in dollars, and drivers are structural: the USD peg, freehold ownership, zero income tax and the Golden Visa.
Sources: Khaleej Times, Harbor Real Estate/DXBinteract