BNW Developments has opened a Sydney office, its first outside the UAE, as the Dubai-based luxury residential developer moves to capture Australian investor interest in the UAE property market.
The launch, held on September 24 at Bella Vista and attended by more than 300 investors, wealth advisers, and real estate professionals, follows a shift in Australian property investment sentiment.
“Australian investors are increasingly looking beyond their domestic market and asking different questions about where their capital can be deployed, the income a property can generate and the broader benefits of international diversification. The UAE offers a very different proposition to Australia, combining an established international property sector with strong tourism and population growth, attractive tax settings and a pathway to long-term residency for eligible investors. With our Sydney office, we can bring our local market knowledge and development pipeline directly to Australian investors, while providing the level of service and guidance they expect when making an international property investment,” Dr. (CA) Ankur Aggarwal, Chairman and Founder of BNW Developments said in a statement.
Reforms to negative gearing and capital gains tax announced in the 2026 Federal Budget, due to take effect from July 2027, have already dented domestic appetite: Commonwealth Bank reported that investor loan applications fell 28 per cent following the Budget, compared with a 9 per cent decline among owner-occupiers.
BNW is positioning UAE real estate as the natural destination for capital looking for an alternative. Average rental yields in Dubai currently run at 6–10 per cent, tax free, against a national Australian average of 3.7 per cent.
The UAE levies no personal income tax, no capital gains tax on property sales, and no recurring land tax. Investors committing AED 2 million or more (approximately AUD 750,000) can also access the Golden Visa, a renewable 10-year UAE residency.
An additional structural benefit: the dirham’s peg to the US dollar means any appreciation of the USD against the Australian dollar would lift the AUD-denominated value of UAE holdings, adding a currency layer on top of rental income and capital growth.
Australian investors already hold 5.7 per cent of the Dubai property market, the company said, on par with Saudi Arabia.
Headquartered in Dubai and operating across six locations, BNW has 13 launched projects and 16 in the pipeline, with a gross development value of AED 32 billion (approximately AUD 12 billion).
Its development activity is concentrated in Dubai and Ras Al Khaimah, with projects including Tonino Lamborghini Residences on Al Marjan Island and a Radisson Blu Hotels and Residences mixed-use precinct.
The group recently signed what it describes as the world’s first Dolce Residences, in partnership with Wyndham Hotels and Resorts, also on Al Marjan Island, comprising 93 residential units and five retail spaces.
Ras Al Khaimah’s market has drawn international attention in its own right. The emirate recorded AED 12.3 billion in residential sales across 6,600 transactions in 2025, with off-plan properties accounting for 85 per cent of deals and foreign investors representing more than 60 per cent of buyers on Al Marjan Island.
The coming opening of Wynn Al Marjan Island, the UAE’s first integrated resort, is expected to increase visitation by 65 per cent in its first year, with visitor numbers projected to reach 5.5 million by 2030.
