October 17th, 2010 by Admin
You can get everything in Dubai, from fantastic tourist sites to brilliant business opportunities, magnificent skyscrapers, ultra elegant hotels, and impressive shopping malls. Dubai certainly is an egressing city of the modern world. Situated on the northeast coast of the UAE, Dubai is really a magnet for tourists, particularly those looking for luxurious & prosperous lifestyle.
Dubai – one of the seven emirates constituting the United Arab Emirates (UAE) in the eastern Arabian Peninsula – definitely is a city wallowing in wealth. It is a major commercial hub in the Middle East. The Middle Eastern gem, Dubai is now progressing fast to stand among the major financial centers of the world. After the crown prince’s commitment to allow foreign nationals to own a property within the emirate, Dubai is very much on its way to be a fantastic metropolis of the world.
Consequently, the economic growth of the emirate is gaining momentum year upon year. According to a statement from the Dubai Department of Economic Development, Dubai’s economy grew around 16% in 2005 and is estimated to reach AED136 billion. Dubai is currently one of the fastest growing economies in the world with a growth rate of 8.5 per cent.
Dubai certainly has become hot destination for investors. Offering numerous investment opportunities, Dubai has been attracting investors from all over the globe. You too should consider investing in Dubai. Here are some reasons, why you should invest in Dubai.
Dubai is a major trading hub of the Middle East. It has in fact been acknowledged as an international business centre. It has now become an international business and re-export centre. It has really turned highly diversified international business centre of global significance, with lots of investment opportunities. You should invest in Dubai because it is the city where you can earn high tax-free money.
Often, you find property in Dubai cheaper as compared to other metropolises of the world. For instance, you can buy villa around ,000 per square meter, but if go to buy it at London Docklands, it would cost you ,000 per square meter. You can’t find such low priced properties in any other modern city of the world. But as the population is set to rise from 1.2 million to 4 million, the value of the property is going to rise in Dubai.
Dubai really offers you a wide range of properties. Furthermore, the buying process is simple, with no national registration required in the Emirate. You can buy a studio apartment in Dubai Marina for just around ฃ140 per sq ft, and if you are to buy the same studio in Salford Quays, Manchester England, it may cost you over ฃ316 per sq ft.
Dubai is a fantastic travel destination attracting volumes of tourists every year. In 2001, over 3.4 million tourists visited Dubai, but this figure is expected to go beyond 6.0 million by 2010. Investing in vacation rentals is a better idea. These properties fetch you High rental yields in Dubai. The best advantage of investing Dubai property is that, you are granted the right to apply for residency visas with the purchase of property.
Finally, the local currency, AED (Dirham) is fixed with the US dollar (3.675 AED: ). The recent strength of the pound against the dollar indicated that by investing now, you are going to achieve a 10% – 15% ready equity compared to the same prices a year ago. Thus, it’s high time for investing in Dubai now. The future of investors is pretty safe and flourishing, as investment opportunities are going to increase furthermore.Dubai, Future, Investing