Some doomsayers are warning that the property boom in is now over, thanks to an oversupply of property in Dubai. While this may indeed be the case across some parts of the emirate, certainly as far as apartments are concerned, overall demand for property in Dubai, which initially stimulated international appetite for UAE real estate, reportedly continues to outstrip supply.

Property in Dubai has witnessed robust growth over the past few years, since the Dubai government developed a strategy aimed at encouraging foreign investment, supported by the liberalisation of foreign freehold ownership of property in Dubai.

The decree was officially issued by the then Crown Prince, Sheikh Mohammed bin Rashid al Maktoum in 2002, and stems from the emirate’s desire to reduce its reliance on oil, and to diversify its economy into the financial services and tourism sectors.

With prices of property in Dubai generally low and payment terms rather favourable, the government sparked a wave of mass investment in property in Dubai from investors from all around the world. This in turn led to increasing levels of new developments and regeneration. In fact, the plans for the emirate are truly remarkable and the state’s pockets are seemingly bottomless.

Dubai’s awesome skyline is rapidly expanding, as it is one of the fastest growing cities in the world – a true global hub for large businesses. The volume of investments in new property in Dubai is expected to reach well in excess of £100 billion by 2020.

Capital growth
Prices of property in Dubai have appreciated significantly over the past few years, as demand has far exceeded supply. This has typically attracted a surge of speculators – many of which have traded in off-plan property in Dubai – buying and selling title deeds, long before ground has even broken on a new development, otherwise referred to as ‘flipping’. This is not uncommon in an emerging market, as it can prove to be a highly lucrative, high risk, way of making money.

Average prices of property in Dubai’s ‘Marina Terrace’, for example, constructed by Damac, have appreciated by well in excess of 200 per cent since the development was launched in 2002. Residential units in ‘The Waves’, also located in Dubai Marina, have appreciated by over 160 per cent per cent since its launch, also in 2002.

Cluttons Middle East reports that the average price of property in Dubai stood at between £90 to 100 per square foot in 2004. Today, that figure stands at close to £250 per square foot.

Alex Upson of Cluttons Middle East says: “A one-bedroom apartment in The Greens sold by the developer in 2004 for approx £75,000. Today the same unit changes hands at £250,000.”

Although capital growth has now generally slowed, average prices of property in Dubai continue to grow at an impressive rate, currently appreciating at annual rate of around 15 per cent per year, according to Middle East business provider, AME Info.
However, with so many off-plan projects now nearing completion, there is a genuine fear that there may soon be an oversupply of property in Dubai and that the phenomenal level of growth recorded in the past cannot be sustained.

Not so, according to some market experts. “Investors who enter the market now will be able to snap up a property in Dubai for far less than if they wait until a later date, says an AME spokesperson. “Furthermore, buying property in Dubai early will allow owners to enjoy considerable capital appreciation.

“Sitting on an asset that is rising in value makes obvious sense. The boom in property in Dubai is far from over, as all the drivers of growth in the market are firmly in place”

Upson supports these views, adding that the residential market remains “very active”, due to growing demand for property in Dubai from end-users. “If buyers are looking for growth then current demand appears to be exceeding supply and prices continue to rise,” he says. “However, we urge caution and always recommend thorough research into comparable property prices and developer history. Delays in delivery should be expected.”

Construction delays are one of the biggest risk factors of buying property in Dubai. Earlier this year Middle East developer Rakaa Properties estimated that 40 per cent, or $160 billion (£79.5 billion) worth of total construction projects in Dubai have so far been suspended, due to rising material costs, which in part is fuelling soaring inflation levels. Construction delays are also holding up the supply of property in Dubai, which could very well culminate in further capital growth over the coming years.

In fact, 57,000 properties in Dubai were due for completion last year, and yet only 11,000 residential units were actually delivered, according to Peter Riddoch of Damac Properties.

Nevertheless, the volume of land being purchased in the emirate is increasing – up 170 per cent in 2007 to reach $48 billion (£24billion), illustrating the fact that there are plenty more developments in the pipeline. Much of this land is being purchased by Britons, who are now the leading foreign owners of land in Dubai, according to a report compiled by the Dubai Land Department.

Major developments
Nakheel, which is currently constructing The World, among other projects, has announced that it plans to build the ‘Universe’. The project, which will be situated off the coast of Dubai, in between Palm Deira and Palm Jumeirah, will take up to 20 years to construct.

Other spectacular projects recently announced or already under construction, include the £395 million Palazzo Versace, Trump International Hotel & Tower on Palm Jumeirah, and the world’s first rotating tower, the latter scheme, an 80-storey skyscraper, will see each floor spin around a central core, offering residents an ever-shifting view of the Persian Gulf.

Buy-to-let
Anyone wishing to invest in buy-to-let property in Dubai should expect to achieve an annual rental yield of eight to ten per cent, according to Riddoch. However, investors in rental property in Dubai should avoid prime developments, as they tend to offer relatively low rental returns.

The greatest returns from rental property in Dubai can be found in The Palm Jumeirah and Old Town Burj Dubai, according to UAE estate agency Asteco. However, the largest rental increases are being recorded in the cheaper areas in and around International City. Comparable data shows that the greatest annual rental increase of property in Dubai has been recorded in International City, where average two-bedroom apartments have appreciated by 36 per cent year-on-year.

The declining cost of finance to buy a property in Dubai could yet boost the market further. This is because the UAE Dirham (AED) is fixed to the US dollar, which means that the currencies do not fluctuate against each other and remain fixed at one value. Consequently, the UAE Central Bank has to follow US interest rates, which currently stands at 2.25 per cent. This effectively devalues the local currency, it also lowers the cost of borowing money to buy property in Dubai, which can lead to higher property investment returns.

Moving forward it’s almost impossible to forecast what will happen to the market for property in Dubai. The sheer volume of new homes coming onto the market suggests that it’s not long until there is an oversupply of property in Dubai, if not already the case. However, the emirate has one of the fastest growing populations in the world.

It’s reported that up to 857 people are moving to Dubai every day, totalling some 5,000 per week. In fact, Peter Riddoch of Damac Properties estimates that around 60,000 people will be looking to purchase property in Dubai this year. He also reports that Dubai’s workforce, which currently stands at around two million will grow to around five million by 2015, undeterred by the likely introduction of VAT next year.

One thing is for sure – Dubai will keep growing.

Dubai- “PEARL OF THE GULF” – is one of the most forward thinking and open places in the entire Middle East. Dubai Investment property sector hugely encourages foreign investors and immigrants. With its lavish developments and sounds ready for anyone to indulge them in, Dubai investment property is certainly looking out for provides a vibrant cosmopolitan environment that fosters growth and appalling capital gains.

The current population of Dubai is 1.5 million (2007) and tourism figures is 5 million. There is no corporate tax; no income tax; no capital gains tax; no foreign exchange controls, trade barriers or quotas; and no restriction on capital repatriation. Consequently it is estimated that by 2012, the population will grow to 12 million and the number of tourists visiting Dubai will be in excess of 5 million. Modest predictions for capital growth are 15% per annum, but we have seen value appreciations in excess of this. Residential yields are coming in at 15% per year also, while commercial rental income is in excess of 20%. So underlying data is sound enough to produce high returns from property investment in Dubai which is safe place for investment; having a good trend of capital gains at the time.

Dubai looks set to increase in both financial clout and influence in coming years, and the forward-thinking nature of the emirate is testament to the success it has. With many specific free zones already set up for Dubai property investment Dubai Internet City and Dubai Media City, Emirates Hill, Sports City, for example, and more planned, things are certainly looking up. Many major worldwide companies have headquarters in the emirate, including Microsoft and IBM, this alone should convince anyone that the region has some solid economic ground to stand on. Dubai property investment is big business in the region, and prices are currently surprisingly low. Now is the time to invest in property in Dubai and those that can afford it really should look into it, Dubai is essentially a purpose-built playground for the rich, and home to the fastest growing city in the world.

More and more people are adding Dubai investment properties to their property portfolios and historically these purchases have provided excellent returns for many people in many countries. This interest in Dubai property investment has been partly fuelled in recent years by capital growth, high residential yield, excess in commercial rental income, and the increasing scope and affordability of international travel. Just invest and then sit back and watch the value of your investment grow!

The choice is yours but with the world getting smaller all the time, making holiday options overwhelming, think about a different type of holiday in the jewel of the Middle East, Dubai. Making headlines on a weekly basis with its huge tourist expansion programme and its fantastic new infrastructure and innovative architecture, Dubai has everything to offer visitors in this fantastic Emirate.

The climate, whilst hot and steamy in the height of the summer still doesn’t deter ‘Mad Dogs and English Men’ in July and August, and is absolutely gorgeous for the remainder of the year. It’s a safe bet for visitors at anytime without the aggressive weather patterns that can hit further eastern locations such as India, Thailand and Malaysia resulting in a diluted holiday season in these locations which could pose a threat to your holiday. The worst Dubai can throw at you is the odd sand storm which even holds some exotic attraction to the masochists among us!

Dubai excels and prides itself on its standard of accommodation and houses some of the most luxurious hotels, holiday apartments and vacations villas all situated either on or close to the fabulous Jumeirah Beach overlooking the azure blue seas of the Arabian Gulf.

Hotels in the U.A.E. and especially in Dubai are all designed to offer visitors a variety of fabulous experiences from Desert hotels, with camel safaris and falcon experts on site, to amazing beach locations all with their own unique style and all with fantastic customer service.

Whilst the hotels are stunning and well worth a visit, there is a shortage of hotel rooms with Dubai hosting so many events, such as the Dubai Gold Cup, Dubai Air show, Power Boat Racing, Dubai Shopping Festival, Exhibitions and many open air concerts. Dubai is also developing into THE major Business and Financial Arena in the Middle East boosting the economy but resulting in a shortage of hotel accommodation. Due to this, many investors in Dubai are offering their apartments and villas to the holiday villa and apartment rental market and maximizing on their investments. This bodes well for investors and visitors alike as the price-saving over hotel accommodation can be as much as 50% making this a really affordable place for families or large groups who want to have the full Dubai experience.

For families thinking of visiting Dubai, this is a fantastic location offering not only fabulous beach facilities with all the water sports you can imagine, but probably the best shopping in the world and plenty of activities to keep the kids amused and entertained. Try snow skiing in the Desert in the middle of summer or the famous Wild-Wadi Water Park overlooking the Burj Al Arab Hotel, or horse riding, Camel and Desert Safaris with Dune and Wadi-bashing in a 4 wheel drive, all with expert drivers who will give you the ride of a lifetime.

Whilst the hotels are truly amazing, the benefits of holiday apartment or villa rental are manifold. Dubai Planning Authorities have ensured that only the best locations are developed to make for a great lifestyle choice for investors in Dubai. Most accommodation has either a Lake, Marina or Sea view, most are equipped with swimming pools and gyms, are either on or within easy reach of beaches and without fail, all are within minutes of the best shopping malls in the world.

Holiday Rental companies in Dubai offer airport transfers, maid service and food parcels with some also offering a full Concierge Service taking the worry and the work out of visiting or staying in Self Catering Villas or Holiday Apartments in Dubai. Short term lets are now readily available and for far less than you would expect considering you could be located on the amazing Jumeirah Palm Island, the Arabian Ranches or fabulous Dubai Marina areas.

Dubai is a place not to be missed so if you are looking for a flexible and lower cost way of experiencing Dubai and are looking for a high quality Dubai Vacation Rental, Serviced Apartment, Beach Apartment or Villa Rental, all in the best locations and close to all the fabulous attractions that are part of this unique and stylish holiday experience, think again about the flexibility of a self-catering holiday but with all the associated hassles taken away. Dubai has the best Service Industry around and you would be hard pushed to lift a finger while you are here if you want to take advantage of the services on offer. So what’s it to be, hotels or holiday rentals? You can’t make a wrong decision but you can make a wise one!

One of the many beautiful things about golf is that the game is now truly global. Long gone are the days of European and North American domination as developers on every continent are now involved in building larger and more impressive courses, attracting golfers from all corners of the world in the process.



Even countries that at face value simply don’t have the climate nor terrain for golf are getting in on the act. The Middle Eastern Emirate of Dubai is now a well established destination for golfers seeking a new challenge. Over the past decade lush championship-standard golf courses designed by some of the world’s leading course architects and players have been developed in the Emirate, attached to some of the most luxurious nineteenth holes in the world.



For example, The Montgomerie, a fine collaboration between top British golfer Colin Montgomerie and world-famous course architect Desmond Muirhead, is one of Dubai’s leading courses but is by no means the only one. If you are a golfer then you are literally spoilt for choice and if you fancy cooling off a bit, as well as the Persian Gulf there’s always the huge indoor Ski World, which offers snowboarding and skiing on a variety of runs.



Alternatively North America, the home of the USPGA tour boasts a plethora of finely manicured courses equipped with many a tricky water hazard in some of the country’s top locations such as Florida, Arizona, California, and North Carolina. In addition to top quality golf, those States also offer other great leisure options such as exciting theme parks, guaranteed to keep non-golfers occupied while the handicappers are busy on the course. And, of course the climate is pretty outstanding too!



Speaking of pleasant climates the Caribbean also offers some challenging courses especially on the island of Barbados, and a bit farther out in the Atlantic the sophisticated, affluent community of Bermuda is also a golfing holiday nirvana for visitors. Other exclusive and exotic locations such as Mauritius in the Indian Ocean also offer golf courses that are fit for a professional and of course, the views are absolutely stunning.



Getting away on golfing holidays is easy too; carrying equipment is now a breeze with the world’s top airlines. Providing your golf clubs are stored in recognised golf cases most major airlines will transport them and other kit such as balls and shoes for a low fixed fee or even free, depending upon the carrier.



But you don’t have to be a scratch golfer to enjoy golfing holidays. Many courses provide lessons and welcome beginners with open arms, so even mixed ability groups will have no problem enjoying their time away as each will be able to concentrate on their own game.

If there are any group of individuals that seems determined to battle their way through the current global woes and overcome any potential recession it is Dubai’s leisure and tourism chiefs, who are ambitiously embarking on the construction of even more hotel and conference facilities in the Emirate.



Although the rest of the world may be reeling from the massive financial fallout of the global banking crisis, latest forecasts for the Emirate’s Gross Domestic Product (GDP) predict an 11% average annual growth over the next eight years; much of the increase from non-oil foreign trade, primarily tourism and inward business investment.



Indeed, Dubai has developed dramatically in the last two decades as it works on positioning itself as the self-styled hub of the Middle East, and even though there are already 325 hotels offering almost 34,000 rooms, the stated goal of Dubai’s hotel bosses is that by 2015 the Emirate will be able to offer 100,000 rooms to an expected 15 million visitors. That represents a massive increase of 300% on the current situation and highlights the phenomenal ambition of the Emirate’s leisure chiefs.



The construction of the world’s tallest building the Burj Dubai is expected to be complete in 2015 but its in-built hotel will add only another 160 rooms towards the required 66,000 new room target, when it opens in late 2008. In the meantime the extensive development of new hotels closer to the ground continues apace as the tourism industry continues to thrive.



The city is being heavily promoted throughout the world and attracting visitors from far and wide, as the latest figures on hotel occupancy testify. Hotels in Dubai attracted over seven million people in 2007, representing an occupancy rate of 85% over the year, a three-fold increase on figures from the previous decade.



In addition to building hotels, the city has also seen a huge increase in corporate office space and innovative and lavish leisure facilities, such as the first ever indoor ski resort in the Middle East. The spectacular 85-metre high Ski Dubai facility offers 22,500 square metres of ‘real’ snow allowing Dubai residents and visitors to ski and snowboard in a desert city whose temperatures can reach 50 degrees Celsius at the height of summer! Other impressive developments in the city include the Palm Islands, which offer a mix of private residential homes alongside top-class hotels, retail and commercial areas, and more are being built annually.



In short, the financial restrictions being put in place elsewhere in the world appear to be having little impact on the optimism of Dubai leisure and tourism chiefs. As such, they are intent on proceeding at full steam ahead with plans to make the city one of the world’s best, and no expense will be spared.

Jumeirah beach is a home to numerous best hotels in Dubai that are famous across the globe. Besides, the district is heavily inhabited coastal residential region of Dubai, UAE. The beach is a shore with a spacious long strip of sand and bath temperature Arabian Gulf’s waters. Over the time it has been formally become the private place of the ever-increasing ranges of beachside rich Jumeirah Beach Inns Dubai, but it doesn’t cease people to from walking about where they feel like. Experiencing the renowned beach Dubai inns Jumeirah shore is ideally placed with perfect facilities. The long extending of public beach caters a wonderful setting with pour white sand and clear seawater.

The most exclusive part of the beach has caused the usage of Jumeirah name as a trademark that indicates exclusivity. This district of Dubai is noted for its great properties and numerous modest town houses created in a diversity of architectural styles. It has become a home to numerous Western and European emigrants working in the real estate and oil industry. Even travelers attending this emirate, make it a place to attend the beach and with the Dubai’s government finding many modern hotels like Jumeirah Beach Hotel and Burj Al Arab famous across the globe and numerous attractions has made it a location for tourists.

Fujairah is one of the seven United Arab Emirates which, unlike the rest of the princedoms, is located by the Gulf of Oman (on the Indian ocean coast) and not on the Persian gulf.

The emirate offers its wonderful sandy beaches that are stretched all along its territory and surrounded by the Indian ocean as well as Hajar rocky mountains split by valleys and little palm groves. Lots of farms producing the most of the Emirates’ products can be found on Fujairah’s green valleys. There are no sandy dunes in this part of the country, so water comes running down the mountains and irrigates fertile fields.

All of these – sea and land, mountains and coast in combination with wonderful nature almost all year round give Fujairah special advantages, excellent tourism conditions among them.

Fujairah Emirate is located in the south-eastern part of Arabian Peninsula and has the population of about 66 000 people. This is a real expanse for those who are fond of history. In Fujairah city you can visit ruins of the ancient fort that surrounded its settlements as well as an interesting museum of archaeological settlements found close to the neighbouring Qidfa and Bithna boroughs. Archaeological diggings have revealed more than 40 separate lots with about 500 various ancient burials as well as many ancient constructions in them: majestic castles, small forts and sight towers built to provide security in almost every village. Dating back to hundreds of years, they are still almost safe.

However, Fujairah is not only an invitation for a historic rendezvous, it is a wonderful resort where those fond of diving will spend an unforgettable time tete-a-tete with crystal clean water and rich underwater world. Among the city’s central landmarks is Fujairah Tower whereas one the emirate’s best attractions is Fujairah’s Friday market that boasts its vast choice of fruits, crockery and carpets. Independently on which part of Fujairah you are in – high in the mountains or in its valleys, in coastal palm groves or on fertile fields, you will definitely come across its rich wildlife, especially after rain when mountains light up with vivid colours of life. Here, in Fujairah mountains you will meet one of the Arabic gazelles as well as its wild goats. But unfortunately the Arabic leopard was last seen on a mountain peak only in 1992.

There are lots of species of fish swimming in small river creeks – the names of some of them are even not known. The coastal territory and the eastern coast sublimity is the home for many birds, from common inhabitants to migrants.

This Indian coast princedom does not possess the main resource for the UAE richness and prosperity – its own oil. But despite this, Fujairah has its own international airport. Numerous fountains and sculptures add to Fujairah’s attraction making it an unusually distinctive Arab Emirates corner. This place is a real pearl in the Emirates tourist necklace, located only two hours ride from Dubai.

Coastal hotels offer provincially cozy and calm atmosphere and are excellently provided with

all the necessary diving and hunting equipment. It is no surprise that the Arabians themselves prefer to spend their sea vacations in the Fujairah emirate.