Dubai is particularly built along with the principles of free trade without any tariffs and lots of foreign investments. Dubai’s real estate has set a benchmark regarding property developments with landmarks such as Dubailand, Dubai Sports City, The Palm and the World islands. Many foreign investors have keen interests in Dubai real estate, and the investments are expected to soar over the years to come.
How to hire them?
Dubai became the only emirate of the UAE to get listed in the Freehold Real Estate when other countries under the Gulf Cooperation Council were permitted to own properties only in the United Arab Emirates. Recently Dubai real estate has undergone a significant change in the rules and regulations for buying real estate and embracing ex-pats with open arms.
Why choose Dubai?
Dubai real estate now welcomes citizens from other countries to buy properties in Dubai which was not the case earlier. One remarkable change that has come in Dubai because of them increasing the land available for foreign investors is that Al-Futtaim Group Real Estate’s Festival City is offering Freehold properties on Dubai creekside as per a UAE daily report.
Dubai is seen as a haven for wealthy nationals of Iran and Syria for their property investments as they are not sure of investing in their own countries. Dubai is now famous for its premium constructions with rates of four and five-bedroom villas at $1.3 million and above.
Dubai real estate – A haven for your money
If you want to experience the booming real estate of Dubai, you have to visit the worlds tallest tower, Burj Khalifa, situated on the deserts floor staring at their plush downtown area. Some figures suggest that many Indian residents have shown a keen interest in the luxury apartments of Dubai and other commercial spaces. If we believe the reports, these Indians have spent about $222 million on the properties, with the Iranians coming second in investing $128 million. For the countries like Iran and Syria, Dubai real estate is a haven to invest their monies which may not be fruitful if invested in their own country.
About Dubai’s real estate
As the Dubai real estate market bubble burst a few years back, the property prices came down significantly from their peak. The market slowly stabilized, regaining the peak, and the Dubai real estate again seems to be booming as it attracted foreign investors. Dubai real estate has made a considerable contribution towards Dubai’s economy with 13 per cent of the total national income in 2011. These figures match the other heavy contributors, such as manufacturing. As per the analysts, this will surely bring down the pressure on the local companies, which will help them come back to their normal state. Though the property market has seen a drastic change over the years for Dubai and got back to its booming business, the same doesn’t apply throughout Dubai. Some lesser affluent districts in northern Dubai are still recovering and are not in good shape.
It can be recalled that once Dubai was reeling under a strong market crash and the one’s who survived this crisis enjoyed the fruits of their patience later. Some of them who stayed back during the bad times remember how thousands of new constructions stayed un-leased and cars were abandoned by people fleeing from the country as a last resort. However, the market from then has slowly come back from the slumber and attracts people across countries to put their monies into the Dubai real estate.