Dubai Real Estate - Scaling New Heights
The construction boom in the UAE has been largely propelled by the Dubai real estate scenario. During the latter half of this year the Dubai real estate market will be hosting the biggest ever Cityscape exhibition from the 6th to 9th October which will see around 60000 industry professionals and 1000 exhibitors participating. No wonder the current market of the Dubai real estate is worth nearly twice over the neighbouring locations. There are around $42.5 billion worth of ventures under construction catering to nearly 15 million customers.
Not only does the Dubai real estate cater to the residential requirements but some of the major multinationals have made Dubai their official headquarters. Thanks to the exponential growth of the Dubai real estate market. The state has even established a new realty court to make the Dubai real estate more transparent and reduce disputes. Developers are welcoming this and believe that this will increase the trust and respect of the buyers.
The Dubai real estate vistas are seeing some unprecedented scale of developments with various grand and glamorous projects in queue. These inventive and ambitious ventures of the Dubai real estate also include the much talked about man made islands of the Palm and the World. Beach front living, comprehensive residential facilities and gigantic superstructures are attracting everybody’s eyes to the Dubai real estate market. More than 100000 people are immigrating to Dubai every year and the market prices are surging sky high. But it is not for nothing. Dubai is the ‘City of the Future’. Though the demand in the Dubai real estate market was frantic around two years back it has stabilised considerably now and the brokers and builders are not demanding enormous prices. The major players in the Dubai real estate setting like Nakheel, Emaar and Aldar have a lot at stake and believe the future will be very bright for them. The construction of landmarks like the Burj Dubai has greatly increased the visibility of the Dubai real estate globally.
Dubai’s crown prince Sheikh Mohammed Al Marktoum knows that the UAE cannot sustain itself solely on the basis of the oil market and hence he is trying his best to facilitate the Dubai real estate to become a major tourist attraction as well as a commercial capital. The more exclusive ventures of the Dubai real estate are targeting the world’s elite and the likes of Michael Jackson and Rod Stewart already have their share of ‘The World’. A private waterfront villa can cost upwards 1.5 million euro yet much of these Dubai real estate properties have already been booked.
Though the Dubai real estate is growing at a phenomenal rate it is to be seen whether the infrastructure can match up to it. The traffic system is a major bottleneck but experts of the Dubai real estate believe that this will become streamlined soon. Another major problem for the Dubai real estate developers could be the sourcing and distribution of water which is a rare commodity in the desert. Investors are still cautious while putting their money in the Dubai real estate but this speculation will be done away with if the market can maintain its steady growth. Recent revision of the property laws has made the Dubai real estate more investor friendly. It is steps like these that can thrust the Dubai real estate to newer heights.
Not only does the Dubai real estate cater to the residential requirements but some of the major multinationals have made Dubai their official headquarters. Thanks to the exponential growth of the Dubai real estate market. The state has even established a new realty court to make the Dubai real estate more transparent and reduce disputes. Developers are welcoming this and believe that this will increase the trust and respect of the buyers.
The Dubai real estate vistas are seeing some unprecedented scale of developments with various grand and glamorous projects in queue. These inventive and ambitious ventures of the Dubai real estate also include the much talked about man made islands of the Palm and the World. Beach front living, comprehensive residential facilities and gigantic superstructures are attracting everybody’s eyes to the Dubai real estate market. More than 100000 people are immigrating to Dubai every year and the market prices are surging sky high. But it is not for nothing. Dubai is the ‘City of the Future’. Though the demand in the Dubai real estate market was frantic around two years back it has stabilised considerably now and the brokers and builders are not demanding enormous prices. The major players in the Dubai real estate setting like Nakheel, Emaar and Aldar have a lot at stake and believe the future will be very bright for them. The construction of landmarks like the Burj Dubai has greatly increased the visibility of the Dubai real estate globally.
Dubai’s crown prince Sheikh Mohammed Al Marktoum knows that the UAE cannot sustain itself solely on the basis of the oil market and hence he is trying his best to facilitate the Dubai real estate to become a major tourist attraction as well as a commercial capital. The more exclusive ventures of the Dubai real estate are targeting the world’s elite and the likes of Michael Jackson and Rod Stewart already have their share of ‘The World’. A private waterfront villa can cost upwards 1.5 million euro yet much of these Dubai real estate properties have already been booked.
Though the Dubai real estate is growing at a phenomenal rate it is to be seen whether the infrastructure can match up to it. The traffic system is a major bottleneck but experts of the Dubai real estate believe that this will become streamlined soon. Another major problem for the Dubai real estate developers could be the sourcing and distribution of water which is a rare commodity in the desert. Investors are still cautious while putting their money in the Dubai real estate but this speculation will be done away with if the market can maintain its steady growth. Recent revision of the property laws has made the Dubai real estate more investor friendly. It is steps like these that can thrust the Dubai real estate to newer heights.
Labels: Cityscape 2008, dubai real estate, real estate
posted by Property Reporter at
4:23 AM
0 Comments:
Post a Comment
<< Home