Real Estate Industry in Dubai Vis-À-Vis UAE and the Middle-East Economy

Once, the Middle East was ignored as a strife-torn region. The cosmopolitan culture of UAE and Dubai real estate has attracted tourists and investors. The region has turned into an active trade hub. The free zone and the Dubai real estate industry have changed the landscape. Dubai real estate has become the interface of the rapid transformation in the Middle East. It has catapulted the UAE economy as a leader amongst Arabic nations. The release of freehold property has, in one master stroke, led to the current development of not only Dubai real estate but also other businesses in UAE. The dynamic increase in Dubai real estate has prompted the neighboring areas also to think of similar ways of attracting investors. The Dubai real estate has become a landmark in development and other states have also opened up their locked lands to foreign investors. The economic trends in the Middle East are now being guided by the Dubai real estate development indicators.

The Dubai real estate economic model is being studied by business groups for future investment in the Middle East. Let’s not forget the first economic boom, thanks to the crude oil market. The prosperity has continued with active participation of Dubai real estate developers. The revenue from oil helped the Dubai real estate to continue with rising economic trends. Unfortunately other Arab nations did not capitalize on the oil boom. With UAE in the saddle with rising Dubai real estate, it is a prime example of not depending on oil reserve. The Dubai real estate boom has helped Arab nations to welcome overseas investors. The ability of good governance has also helped the Dubai real estate industrial model to be replicated by other Arab nations. The fact that UAE has stopped depending only on oil for survival has been understood by other groups. With overseas developers entering the Dubai real estate sector, they have sent positive signals to their own countries too. Attracting forex in the region has facilitated the economy of these regions.

Despite the waging war in Iraq, the other Middle East nations have stepped forward to accept the Dubai real estate sector model to improve their own dependence on merge desert resources. The sands are now being transformed into gold as investments flow in with Dubai real estate sector. With Dubai real estate properties being showcased in the world, the Middle East is looking forward to challenge the China dominance in the world market. While China can become the world’s backyard for mass products, the Middle East is a source for business growth with the Dubai real estate model. Private investors are being encouraged in putting collective brains to banking, telecom, IT, healthcare and education sectors. For the simple reason, if Dubai real estate sector can flourish, then why not these too? Other economies are trying to emulate the successful Dubai real estate sector. Oil has made the UAE rulers king, but the burgeoning Dubai real estate sector will turn them into emperors.

Final Tip: Qatar’s rising economy may be shadowed by Dubai’s real estate sector which in turn is a haven for foreign investors.