About Dubai Real Estate
Dubai markets itself as 21st century Arabia with some of the most spectacular architectural landscapes in the world. Dubai is home to iconic, world class, megastructures such as the Burj Al Arab hotel (www.Burj-Al-Arab.com) with it's 7 star rating and supreme opulance. When you stand on Sheikh Zayed Road and marvel at the futuristic buildings, its very easy to forget that this has been done in a very short space of time.
Dubai was little more than a desert outpost 30 years ago and is trying to achieve in 50 years what has taken a major city such as London 600 years to do! In fact, everything that Dubai seems to plan is packed with superlatives such as the world's biggest, largest, tallest, most extravagent, most modern and luxurious.
Dubai is more about the future than it is about the present. Indeed, Dubai is witnessing some of the most awesome real estate projects in the world. The centre piece, the Burj Tower www.burjtower.com will soon become the world's tallest building and is already drawing worldwide attention. The Burj Tower is located in Business Bay (www.en.wikipedia.org/wiki/Business_Bay) which is another significant development in Dubai to ensure that it becomes one of the most important financial hubs in the world in line with London, New York, Tokyo and Singapore.
Prestigious off plan developments such is the Palm Islands (Palm Jumeriah and The World) www.nakheel.com have already witnessed staggering capital appreciation and have already been heralded as the eighth wonder of the world. Due to the huge demand for waterfronted and coastal property in Dubai, the new Dubai Waterfront (www.dubaiwaterfront.ae) is being developed with the huge man made Arabian Canal surrounding the new Dubai World Central International Airport (soon world's largest airport).
Another signficant real estate development will be the world's largest entertainment complex, Dubailand (www.dubailand.ae) which will house a huge theme park twice the size of Walt Disney Florida and a Dubai Sports City (www.dubaisportscity.ae) with the most sophisticated sporting facilities in the world making it a worthy contender for the 2016 or 2020 Olympic Games.
From an investment point of view, it is worth noting that even though Dubai only opened it's doors to foreign property investers in 2002 and annouced the award of freehold titles to property holders in designated areas in 2006, Dubai is still very much a young, emerging real estate market. Hence, Dubai must be seen as a long term investment where prices are much lower than other major international cities such as London, Toyko, New York and Singapore. The huge developments that are currently underway will take an average of 2-10 years to complete but will ensure excellent capital appreciation over the longer term for savvy investors.
Furthermore, with the population set to explode (currently, 800 residency visas and work permits are granted each day for new arrivals in Dubai) a predicted 15 million tourists by 2010, there is a massive under supply of property which is currently unable to satisfy the huge demand for both residential and commericial property in the Emirate. Many speculators believe that there is plenty of profit to be made in a one of the most hottest and exciting real estate markets in the world - Dubai! This has been supported by an indepth 2 year research project conducted by MEED on the Dubai Real Estate market by MEED, (www.ameinfo.com/128507.html).
Furthermore, the huge real estate plans are part of a wider vision for Dubai to become one of the best places in the world for tourism, business, transport, investment, commerce, banking, IT, leisure and residency. Under the extraordinary leadership and bold vision of his Highness Crown Prince Shiekh Mohammad Bin Rashid Al Maktoum the ruler of Dubai and Prime Minister of the United Arab Emirates (UAE) is, Dubai is set to become one of the most successful cities in the world. Please check out the Dubai Strategic Plan 2015 by downloading the document below.
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Dubai Real Estate - The Movie!
Please take the time to view the Dubai vision for property investors by clicking on the video below of megastructures that are currently under construction in Dubai. Enjoy!