Dubai ‘forging Forward’ With Hotel Developments
April 15, 2010 by admin
Filed under Tourists Attractions
The market for property in Dubai is being continually supported by the city’s tourism industry, which is pursuing consistent innovation in regard to its hotels, according to reports.
So far in 2006, seven new four and five-star hotels have been constructed and there are further plans for diversification as consumer demand for travel in the region grows, Travelmole.com reports.
There were 191 hotels in Dubai in 1994, this increased to 302 hotels and 108 hotel apartments, offering 38,608 rooms, in the first quarter of 2006.
Between 2010 and 2016, the number of available rooms and apartments is expected to reach 86,600, more than double the 41,500 predicted for the end of this year.
Commenting on the success of the city’s tourism market, Baerbel Kirchner of the Dubai Department of Tourism and Commerce Marketing, said: “As anticipated, Dubai is in the fortunate position of having seen a very strong increase in visitor arrivals over the last ten years. For four years the UK has emerged as Dubai’s top market, with strong growth 13 per cent in 2005 when over 680,000 British guests arrived in the emirate.”
This growth in the tourism industry will offer substantial support to the Dubai property market, as it has been widely proven that many property investors buy real estate in areas where they have taken holidays.
According to a recent study by research group Inside Track, 45 per cent of UK adults travelling abroad spend an average of one hour and 25 minutes considering local property listings.
The economic boom that is taking place in the United Arab Emirates since 2002 has been particularly evident in the Dubai property market, with over 100,000 British people investing there in the past four years, reports claim.
The market is currently believed to favour people looking to own a home abroad and receive steady returns on their investment.
Rental yields in the Dubai property market are between seven and ten per cent at present, compared to three to four per cent annually in the UK.
Is it the good time to invest in Dubai real estate?
March 30, 2010 by admin
Filed under Tourists Attractions
Dubai is one of the popular, famous and second largest cities in the seven Emirates of the United Arab Emirates. The city of Dubai has transformed itself from a small fishing village to a dynamic and ambitious cosmopolitan city and an ideal state for investment. Owing to the complete exemption of tax all traders in and around the world prefer to enjoy the unique benefits which are offered for their investments in a property here.
Investors go in for investment in a property in Dubai even before the beginning of construction. Dubai is focusing its attention on trade and tourism. The government of Dubai allowed foreign nationals to go in for investment or own a property in Dubai since 2002. Since the population in Dubai is on constant rise the need for residential property and living space has increased steeply. Jumeriah has been developed in to a luxurious residential center owing to the existence of internet and media city. Dubai Marina Jumeriah and the Palm Jumeriah are some of the few areas which are exclusive and luxurious and good investment opportunities.
Wide and exclusive ranges of investment property are available in Dubai city. The investment in property scene in Dubai is witnessing drastic changes and developments. Non – GCC citizens are entitled to investments in a freehold property in several areas. Investors prefer to buy or sell an investment property owing to the high value of appreciation. If one is looking to invest in a property in Dubai, then there are the apartments, studios, villas and independent homes. Minimum of thirty percent returns is assured from investing in a property in Dubai.
Some important upcoming projects in Dubai which are ideal for investments are currently progressing in the locations like Business Bay Executive towers Bay Avenue and the Walk. Investors prefer to go in for investment in a commercial property, as there is an acute demand and shortage. Dubai Financial center and Business Bay have certain plans to meet the growing demand for the commercial property and these are also lucrative investment opportunities.
Investment in Dubai Real Estate genuinely provides satisfaction to the buyers. Mortgage companies in Dubai offer a variety of investment plans which prove to be beneficial to the investors. Investment in a freehold property in Dubai means that the owner is entitled to hold the property under his or her name until death. The owner is also eligible to sell or lease out the investment property according to his or her discretion. The lists of properties for investment Dubai which are available for sale are listed on various web sites.
Emaar properties were the first real estate company to involve themselves in the business of a freehold property. Burj Dubai Golf Towers and Dubai marina are some of the freehold properties which are good investment options and are available for sale. Al Nakheel property is another real estate company which belongs to the government. It is one among the leading real estate company in the city and offers good investment ideas to prospective clients wanting to purchase a property.
Real Estate Dubai
Dubai is a luxurious city indeed. It is considered as one best holiday destinations in the world and is accepted as an up coming commercial hub and one of the most pleasing places to live. Dubai is the second largest city in the United Arab Emirates and a city hemmed by picturesque beauty and a modern infrastructure. Dubai has a number of hotels, clubs and resorts, which in turn has become an attraction for the customers to buy the property in Dubai to live life full size affordability. Another most important reason why people want to settle in Dubai is the intermingling culture. In other words, living together in Dubai and working in harmony with all the traditional Arabic values has made dudai a highly reputed society has resulted in a highly tolerant society.
It is really difficult to assess the pros and cons of owning overseas property, as one does not exactly know what the future may hold. Buying a property is not an easy job because there is a great stake in it. It is always advised to think twice, perhaps thrice, before moving ahead because once you already made that purchase, it is hard to refund when you find out that it is not actually the property that meets your need. Its recommended that you never take on any property purchase decision lightly.
Whichever property you want to purchase, the foremost thing you require to do ids to check the property thoroughly from all aspects so that no issue should be created after the sale or purchase of the property. Be confident enough and satisfy all your requirements regarding the property and then go ahead to purchase it.
However, buying property in Dubai is a different scenario. The appreciation of real estate in Dubai is acknowledged and so is the emergence of Dubai as a strong force in world commerce. Hence, half the worries of buying overseas property are thwarted if Dubai is the destination. However, a little caution should be exercised about taxes and other recurring expenses.
Once you have taken care of these necessities, you will always cherish your property in Dubai.
Property in Dubai, The Rent Caps Proposed and More
July 28, 2009 by admin
Filed under Tourists Attractions
The Dubai Rent Committee has once again regulated the rental rate increases in Dubai resulting in the debate relating to rent caps and buy to let property investment in Dubai seriously raging.
There is the argument that it is necessary to cap rental rates to ensure Dubai remains an appealing place to live in terms of its economic effectiveness for the longer term; whilst on the hand you have property industry experts pointing out the fact that “Dubai’s economy actually benefits significantly from the property industry and by capping rental rates you’re effectively capping the attraction of the nation from an investor’s perspective.”
Those who are in favour of the latest 7% rent cap say that it “will make Dubai a more stable environment for the majority of people living in the emirate.”
“The vast majority of those who have committed to live, work, start a business or invest in Dubai are affected either by home or premises rental rates or perhaps both – when their ongoing rental liabilities are known, these individuals will be able to more effectively forward plan.”
This makes living in the emirate even more attractive as it removes the chance of unforeseen, in terms of costs of living increasing dramatically.
It is a fact that Dubai has to stabilise increases in the cost of living in order to maintain a grip on inflation. Accordingly, a 7% cap on the rate at which rental prices chargeable is viewed as not only a good thing, but essential to maintaining the ongoing attraction of Dubai as a place to live and work.
Directly contradicting this viewpoint is the fact that by capping rental rate increases, you inadvertently cap the attraction of Dubai.
In terms of the buy to let investment property market a cap is quite literally a restriction on profit, and because Dubai’s economy has been bolstered incredibly significantly since the right of foreigners to own freehold real estate in the emirate became law, the economy could now suffer if fewer investors wish to buy property in Dubai and become landlords.
Whichever side of the fence you’re on we feel it’s wise to take a step back from the intense argument that’s raging for just a moment.
By placing restrictions on rental increases, Dubai is actually ensuring it becomes more attractive as a place to commit to, to live in and to open a business or work from, meaning that the current strong flow of inward migration of professional persons that Dubai is experiencing at present will continue and demand for rental accommodation will also continue to be very strong.
This has the effect that vacancy rates for commercial and residential real estate will remain very low indeed and so an investment property bought in Dubai with the sole purpose of the investor being to let it out for an income remains an attractive investment asset simply because it will almost always be occupied and returning an income!
If rental rates were to continue spiralling upwards, more people would leave the emirate than arrive and buy to let investors would likely find it increasingly difficult to find anyone to pay their ridiculous rental rates!
In order to attract more foreign investors into Dubai, Khalid Ahmed bin Sulayem, the Director General of Dubai Tourism and Commerce Marketing (DTCM) revealed: “We want annual visitor numbers to rise from seven million to ten million by 2010. To achieve that, we are working to implement various new initiatives and strategies.”
He further commented that “The next three years will see the most dramatic developments in tourism projects, and Dubai will continue to be a ‘frontrunner’ in attracting visitors to this part of the world.”
This is good news for Dubai as a country and burgeoning economy. Apparent and clear to see is the fact that investing in Dubai – regardless of its rent caps – is still extremely lucrative and a positive venture when one considers the vast amounts of profits to be had in return.
Dubai Real Estate – Dubai Property Investment
May 23, 2009 by admin
Filed under Restaurants
Dubai was the initial emirate of the UAE (United Arab Emirates) to get mixed up in the freehold real estate market at the time when the purchasing and selling of assets in Dubai was earlier limited to the GCC Nationals. The amount of expatriates residing in UAE as a whole, particularly Dubai facilitated the requirement to offer various overseas residents the chance to create Dubai a stable abode. With the first freehold property law, which came into place in 2001 and the subsequent property, developments declared all indications pointed to a flourishing future of the freehold market.
Several years on, the hit of the Dubai real estate market has now been appreciated and almost everyone desires to posses a freehold property in the exciting Emirate of UAE. All credit goes to the apparition of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, the formation of the freehold property laws, which enables expatriates to buy properties within definite developments have show the way to huge influxes of venture in the Emirate. This has propelled the financial growth rates of the whole country to tremendously sky-scraping levels, which protected Dubai itself as one of the iconic destination.
The population explosion in Dubai has resulted in umpteen numbers of real estate investors and novel residents from the all over the world over purchasing, renting, investing and selling investing in both the commercial and residential property in Dubai. With massive numbers of innovative businesses rolling in Dubai, the demand of property in Dubai has developed exponentially from the time of the introduction of freehold property law. Immediately with the numerous freehold residential expansion in Dubai, the government started making Dubai more practical as a business center. Thus, the place now provides a huge amount of freehold property office space. Nevertheless, the requirement for the residential space has also mounted up at the same fast pace as the commercial space, implicating that the demand for property outdo the supply. Whether it is offices, houses, showrooms, restaurants, warehouses or any other kind of asset, with such great demand to purchase freehold properties in Dubai, property seldom remains on the Dubai real estate market for long, thus the investors must use a dependable property service to make the job easier.
With an interesting and diverse selection of the freehold property in Dubai currently obtainable in the property market and increasingly developments facing achievement every day, the topmost freehold real estate market developers of Dubai continue to give quality properties both for the residents and the overseas investors to buy.
The purchase of the freehold property in Dubai indicates that the property or house is registered by the possessors name for entire life in majority of the developments in the market in addition to few developments, which offers 99-year leases periodically. The proprietors are issued with an agreement for their property which they purchase and as with purchasing assets in any other country, it is essential to go through and read all the particulars and any limitations that might exist in relation to maintenance and renting costs. It is feasible that all the freehold property buyers in Dubai must seek appropriate lawful advice when buying any kind of commercial or residential property, as the Dubai property law is created to guard you and purchasing freehold property is a major investment.
