Dubai is the best place for investing in foreign Real estate. Dubai real estate is becoming a very popular market for global investors.
Anyone
wanting to find out more about the Dubai property market could have
done worse than pay a visit to the Cityscape 2008 exhibition last
week, where over 70,000 visitors came to see the latest projects from
the Middle East’s largest property developers.
As
in previous years, we saw new project announcements ranging from the
Nakheel Harbour and Tower development, where the worlds largest tower
is to be built, through to new Podium Tower, which will soon be home
to the world’s largest screen. In neighbouring Abu Dhabi, the
Micheal Schumacher Tower even promised to turn the building design
world upside down, by placing the penthouses on their waterfront
development on the ground floor. However this does allow the
residents the opportunity to park their boats literally inside their
own living room. A nice perk, even if only for a select few well
heeled individuals.
In
keeping with previous years, we saw some of the world’s most
innovative architecture at play at Cityscape, and once again the
Dubai real estate market once again stated its intention to drive the
emirate into the 21st century and beyond.
What
was most interesting was the global context in which this Cityscape
exhibition was held, as people throughout the world held their breath
to see how the global leaders would deal with the financial turmoil
which is paralysing so many markets. In the past, many people have
suggested that Dubai is a unique market, and would be unaffected by
the market dynamics outside of the emirate. The more cautious and
considered reaction however of many of the investors at the Cityscape
exhibition seems to be suggesting a ?wait and see’ policy may be
unfolding in the property market.
Overall,
the signs are encouraging for the Dubai property market for as was
suggested by His Royal Highness Sheikh Al Maktoum, the necessary
fundamentals for a strong real estate market are in place. These
fundamentals should not be understated, for they will prove to be the
foundation for the next phase of growth of the Dubai real estate
market as ?New Dubai’ moves from concept to an impressive
reality.
With
strong levels of tourism and increasing numbers of companies seeking
to relocate to the emirate, more people than ever before are looking
to set up their home in Dubai. These increasing numbers of visitors
to the region are slowly increasing the numbers of end users to the
market, a vital part of the future growth of the market for property
in Dubai.
Slowly
Dubai is moving away from the short-term model that has been
witnessed over the past few years. Investors are making more
considered decisions, which is in turn forcing the developers to
improve the overall standard of their offering. This coupled with the
introduction of an increasing number of end-users to the market can
only prove beneficial in the long term , and bodes well for the long
term growth and sustainability of the property market in the region.
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Tags: abu dhabi, emirate, exhibition, financial turmoil, global context, global investors, global leaders, innovative architecture, intention, living room, market dynamics, micheal schumacher, middle easts, neighbouring, penthouses, podium, previous years, project announcements, property developers, waterfront development
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