One should look at Dubai’s fast growing skyline, to have a measure of its economic growth. The number of new construction plans being announced on a regular basis, by the city’s developers, is amazing. Several Dubai hotels and retail chains could be enlisted in these developments. Those dealing in Dubai apartments are also found playing active roles. Despite the supply of residential properties looking healthier than ever before, only 175,000 new apartments might be built by the year 2010, as against the demand for roughly 181,000 units. Roughly about 75% of all new developments in Dubai are expected to fall under the property segment, totaling around $230 billion over the next decade.

Dubai has started organizing an International Property Show in the recent times to help grow its own real estate smoothly. The latest edition of this show was held from April 3rd to 4th this year. Exhibitors from several European countries like Germany, France, UK and Spain made their presence felt. Several other players from India, China, Malaysia, Bahrain and Turkey also took part in the same event alongside. The three day long annual show is regarded by many as the most sought after in the Middle East. A 35% increase in the level of participation was recorded this year. The next year’s property event is slated to be held in February 2008.

This annual show features many advanced projects from across the globe involving leisure, commercial and residential properties. Deals outlining newer Dubai hotels and Dubai apartments are often sealed during the three-day annual event. Dubai’s hotel industry is already under pressure while trying to pace along its own tourism sector. Developers would surely like to explore possibilities for making newer world-class hotels in the years to follow.

The main purpose behind this show is to bring together city planners, property developers, financiers, real estate agents, consultants and designers under one roof. This year’s show was held during the International Property Week, thus allowing the visitors and participants to take part in a series of industry-specific workshops, conferences and seminars. New property laws were recently announced in the UAE allowing a major boost in the area of real estate. A basic platform for bringing together all property developers was urgently sought in this scenario. The International Property Show of Dubai has fulfilled the same emerging demand.

International companies succeeded in making a combined sale of $170 million in this year’s show. A leading American real estate firm, named The Corcoran Group, alone made deals worth about $130 million. Its ocean liner named ‘The Orphalese’, launched during the three day event, generated many business queries. Notwithstanding the significance Dubai hotels and Dubai apartments might carry in this part of the world, ideas like ‘The Orphalese’ do also have a great future ahead. The liner is the largest to be built ever in its own class, roughly twice in size compared to the nearest model. It offers 200 permanent and 265 temporary units for stay. It also carries state-of-the-art business, leisure, medical and other necessary amenities on board.

Dubai’s private developers have recently announced that erecting low-cost housing was not their first priority. High land rates in the emirate have prevented them from taking up low-range housing assignments. According to Ahmad Al Abdullah, chairman of New Dubai Properties that has constructed 22 projects worth over $7 billion across the emirate, high land rates are forcing developers into projects that involved building luxurious apartments, office blocks and Dubai hotels. These bring back far better returns on investment as compared to what the affordable housing may deliver. There is already a shortage of three and four star hotels in Dubai that many construction companies are trying to make business from. Nobody dares announcing low-cost housing projects on the other hand though.

According to various estimates 40% of the project amount is normally required for purchasing lands while the rest goes in undertaking construction plans. This means low-cost housing in Dubai may never be profitable in the present-day scenario. There are only four apartment blocks apart from twelve commercial towers and six Dubai hotels that New Dubai Properties has constructed so far. Dubai’s government has failed in checking down its land rates until now, thus causing inflation in the real estate sector. This has also affected the market of affordable hotels in Dubai in a negative way. There is no dearth of the expensive hotels in Dubai on the other hand though, and many native and offshore players are lining up to build many new five star hotels in the emirate.

Expensive real estate prices in Dubai is why many people have decided to live at Sharjah and spend up to three hours traveling down to and up from Dubai on a daily course. While Dubai hotels and furnished apartments may be the right place for high-flying executives, CEOs and holidaymakers to reside, there are many who still can’t afford to have accommodation in apartments or hotels in Dubai. Governmental efforts of encouraging low-cost housing projects have always stood non-starters. The desire of having the largest, tallest and the most advanced infrastructure has escalated Dubai’s cost tremendously. While it may indicate a boom time for the tourism sector, there are many who would think otherwise. The need of saving money to send back home may not allow many expatriates to buy accommodation in today’s scenario, hence they have to move elsewhere facing large scale hurdles.

Dubai’s government will have to find out a way of having a balance between lavish and affordable housing projects. A segment of the free land should be given away at low rates to make this reality. It shouldn’t be ignored for too long, since a large expatriate workforce keeps arriving at Dubai on a daily basis. There is a fear; the lack of affordable housing may slow down the region’s overall growth. More and more expatriates are finding it hard to buy accommodation in Dubai today. Some construction firms have already moved away to other areas within the UAE with an aim at having low-cost housing developments there. This has a potential of inflicting Dubai’s economy severely unless checked by the authorities soon.

The Dubai real estate market has experienced tremendous growth over recent years, and this is all the more notable considering that the traditional real estate fundamentals are not what this particular market operates on. Many people are therefore wondering about the explanation for the bust that the Dubai real estate market is set for. Population growth may be a sound explanation, considering that Dubai’s population is about three or four times bigger than that of other developing countries all over the world. The capital appreciation in the Dubai real estate market could also be justified by the high yields that investors achieved, both for short-term and long-term rentals.

Many investors are attracted by the opportunities that the Dubai real estate market provides. Shortstay renting is probably the most profitable way of producing money from Dubai real estate, because the rather high average rates that Dubai hotels charge per night have determined tourists to start looking for other options, such as a Dubai apartment or villa.

Probably the best thing about the Dubai real estate market is that there is no tax on property transactions. In fact only the ones subjected to taxes are the oil industry, the banking sector, and the cigarette manufacturers. Under these circumstances, it’s only understandable why many investors want to have their own share of Dubai property.

Being the owner of Dubai property comes with a series of advantages, such as being able to apply for residency. Furthermore, foreigners who want to purchase Dubai property are not required to have a bank account in this emirate. The transaction itself is far from being complicated, but you should definitely consider seeking legal counsel before the transaction, and legal representation during it, given the vague nature of Dubai property transactions.

Dubai property prices have been increasing considerably over the past few years, since 2002, to be more precise, when foreigners were allowed to purchase properties in this emirate. The reason for this appreciable increase was the intense demand that the Dubai real estate market has been experiencing. However, Dubai real estate can still be profitable, provided that investors know exactly what to invest in and what to do with that piece of property. Different people are interested in different types of real estate, and understanding the market from this point of view is one sure step towards success. For instance, completed apartments and family villas are in high demand for long-term rental.

All in all, long-term profit form the Dubai real estate market is possible, but it comes with certain conditions. Although this market is hardly similar to traditional and more conventional real estate markets, there is one aspect that is true for all real estate markets alike, including the Dubai one: profit from property purchase requires thorough research prior to the actual investment. Those interested in purchasing Dubai property will definitely benefit from using the information available online about the Dubai real estate market.

For more resources about Dubai real estate or even about Dubai property please review this weblink http://www.dubai.com.au

Dubai’s upcoming landmark, Burj Dubai Tower, is creating ripples around the world. The building is expected to be completed by June 2009, and it will stand to be the world’s tallest at that time. Emaar, a UAE construction giant developing it, has yet not disclosed its official height, but the building is expected to measure above 800m on its completion. There will be more than 160 floors and a 200m high spire carrying various communication equipments in the entire building. Most of its first 108 floors will be lent either to house one of Dubai hotels or to accommodate private apartment owners, however, the business community will also have its own share in the form of exclusive offices.

Dubai’s government has worked for over two decades now with intent to shifting away from the chiefly oil driven economy to a diversified free-trade, retail and tourism oriented one. They have succeeded as well in doing so to a very large extent, since the share of oil revenues in the GDP has fallen drastically in the last few years. However, they will require continuing on to make this transformation last permanently, and that’s where the projects like Burj Dubai Tower, Dubai Marina, The World, The Palm Islands, The Dubai Mall, serviced apartments and various Dubai hotels come into this picture.

Dubai is expecting to receive 15 million visitors by the year 2010, and needs to add more supplies in the hospitality and retail sectors by that time. The Downtown Burj Dubai, which is going to host the Burj Dubai Tower, apart from many other developments, is expected to fulfill this growing need. The township will have nine Dubai hotels, over a dozen and half residential towers, one low-rise township called The Old Town, the world’s largest mall, The Dubai Mall, and loads of leisure outlets such as cafes, stylish boutiques, restaurants etc to add more to its charm.

The Downtown Burj Dubai will provide roughly 30,000 serviced apartments, penthouses, villas and several Dubai hotels for staying in the city. The 63-story tall Dubai Lake Hotel & Serviced Apartments is one of these projects, which will offer exclusive apartments and studios for outright sale. The tower will also host a 210-room luxury hotel, which will be managed by a leading luxury hotel group. Another housing development is called Boulevard Crescents, which will comprise of 1, 2 and 3 bedroom luxury residential suits and penthouses. A very beautiful landscape encircling these apartments will add more value to one’s stay in Dubai.

The world’s largest mall, The Dubai Mall, is also located in the same area, where you can find the goods of your preference to fulfill your desires. This retail giant will house over a dozen built-in smaller malls, each catering to the needs of an individual market. The mall will be spreading over an area of 12.1 million ft², and will begin its operations by August 2008. These developments, along with the spirited rise of the tower Burj Dubai, are bound to add a significant amount of growth in the city’s tourism and retail sectors.

Dubai’s skyline has grown in the recent years by an amount, which took over a century for the developed nations to achieve in their own backyard. In Dubai’s case, it was the oil exploration at first, and then the commerce of free trade zones, which made it be counted at par with the developed nations. The desire to see its tourism sector flourish and the gains of a thriving economy, were the two major reasons why Dubai’s skyline grew so frantically in the last two decades. In the course of events, the city also became the new residing place for world class hotels. Gone were the heydays of Sydney, London, New York and Tokyo. Dubai hotels were also standing at par, shoulder-to-shoulder, eyeball-to-eyeball with them. Today’s Dubai offers several dozen of world class hotels to make your stay comfortable. Apart from Dubai hotels (United Arab Emirates) one can choose from many other options, like furnished villas and beach side apartments, to make one’s stay at ease.

Let us examine the following data to learn more about Dubai hotels. Until the early 90s, they were not to be found in so many numbers out there. By the start of 2000 however, this ground reality had dramatically transformed. One s gets awed by looking at their numbers these days. This author counted on just one site and found more than three dozen entries for the five-star facility alone. The count for the four, three and two star hotels will be even more awesome, one reckons. There were a total of 414 hotels in Dubai in the year 2006. They were the mainstay for accommodating the 6.5 million visitors who visited the city that year. The revenues earned by these hotels stood at Dh10.8b in the same period. This however grew by 15.74 percent to be at Dh12.5b in the year 2007. This also discloses the stress on Dubai hotels (United Arab Emirates), furnished villas and Dubai hotel apartments in their attempts to cope with the level of demand they face from the industry.

This is why Dubai’s government has nodded to too many new plans that promised to construct newer furnished villas, furnished apartments and Dubai hotels (United Arab Emirates) on its territory. The total number of rooms stood at 40,862 in all these segments, in the year 2006. This will have to be further raised by a handsome margin to meet with the set official target of receiving 15 million visitors by the year 2010. Two key events, one of which was recently held, and the other still on, are expected to help Dubai in meeting out with its 2010 target. The first was Dubai’s 1st Tourism Development Projects and Investment Market (TDIM) exhibition, which was to be held from January 20-22, 2008. Major real estate companies from all over the world were expected to showcase projects worth over $190 billion. The idea behind it was to get various components of Dubai’s urban growth together, namely real estate firms, private companies, investors and government bodies, and frame out the future course of action.

The other event, which is taking place across Dubai right now, is the 13th Dubai Shopping Festival (DSF). This will coincide with many recreational programs at places like shopping malls, Dubai hotels and elsewhere, apart from the shopping mania that the festival was all about. The show to be held from January 24 to February 24 (2008), is expected to attract 3.5 million visitors from all over the globe.