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Insights - Dubai’s High Speed Growth And Development
Dubai’s High Speed Growth And Development
- Better Informed
- 05 Jul, 2015
Table of Contents
Being recognized as the fastest growing Middle Eastern City, Dubai has shown tremendous growth and development in a span of 30 years. Transformed from a small fishing and pearl diving village, the Emirate is now recognized as the world’s most luxurious city. Massive construction and development of infrastructure and real estate projects have enabled the city to achieve the status of a hub city in the region of MENA (Middle East, Europe, and North Africa) in terms of Dubai property.
Popular Communities
Dubai Marina 282
Downtown Dubai 148
Business Bay 90
Jumeirah 5
Mega Projects in Dubai Property Market
Soon after the discovery of oil reservoirs in the year 1966, the State Government of Dubai started investing petrodollars to develop city infrastructure and real estate developments in residential, commercial and retail sectors to support business, trade and other service sectors in the city. The Real Estate sector has played a major role in transforming the city’s image as an oil producing emirate. Dubai developers and investors started constructing mega Dubai property developments throughout the city. Palm Islands, World Islands, Burj Khalifa, Dubai Marina, Mall of Emirates, Burj Al Arab, and Dubai Media City are a few internationally recognized developments.
Dubai the hottest international property market
The cosmopolitan environment, stable economy, negligible crime rate, and tax free earnings are a few reasons this city is an enticing choice for everyone from businessmen and real estate investors to second home seekers and travelers. Implementation of the Freehold Property Law in the year 2002 was a bold step in facilitating foreign buyers, who were looking to find some suitable place to live or expand their business investments. Foreigners are now allowed to buy assets in specific areas with complete ownership rights. As a result, Dubai property has seen a significant rise in asset demand across the city. After considering the market trends developers have initiated several mega projects in residential and commercial sectors to accomplish these needs. Such progressive market trends towards Dubai properties have efficiently enabled the city to gain the status of the hottest international property market. Whether, as a conventional buyer or an investor, the asset market of Dubai properties assures providing profitable deals for all. The increasing ratio of expats in the city’s population and escalating GDP have enticed foreigners towards Dubai and they are considering flying Dubai. On the other hand asset prices in Dubai are reasonable as compared to leading international asset markets like the UK or USA.
Residential and commercial Dubai properties
First class infrastructure facilities, modern architectural design and luxury lifestyle amenities are what Dubai properties do best. All residential and commercial units provide a magnificent living space and unmatched comfort for their residents. Major residential and commercial Dubai properties include luxury apartments, hotels, studios, villa and waterfront resorts, villas and townhouses. Commercial units consist of well equipped office spaces in multistory towers.
You may browse through our website to explore Dubai property developments. Click to browse through our database to explore readily now properties that are available for rent and sale and off plan units including under construction and occupied properties.
