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Why Invest in Property in Dubai?
Dubai showcases some of the most novel and astounding architectural wonders to be seen in the world today. Sheikh Mohammed bin Rashchid al Maktoom is in the process of creating a magnificent city, both in terms of a commercial investment hub as well as a state-of-the-art recreational centre, to attract the most discerning of 21st century international tourists and investors.
•Year-round sunshine, with average summer temperatures ranging from 24°C in winter to 40°C in summer.
•Awe-inspiring and record-breaking architectural wonders to inspire the senses
•As a tax free country Dubai has no capital gains tax or tax on rental income.
•Currently the international business hub of the Middle East, Dubai is becoming an important player on the world stage.
•An expected increase in population, due to workers needed to service new industries, will maintain a strong future demand for property.
•The demand supply and demand ratio is well managed to ensure strong growth and returns.
•Investment property in Dubai is very affordable by international standards.
•The quality of finishes is consistently high with facilities such as gyms and pools as standard in most complexes.
•With the construction of entertainment facilities such as those envisaged for Dubailand, Dubai is fast becoming one of the world’s most significant leisure destinations and tourism is expected to rocket to 15 million per annum by 2010.
•Dubai is a cosmopolitan, global business centre with luxurious facilities and magnificent sandy beaches.
•An excellent infrastructure is under construction alongside the building programme to keep up with a fast growing population.
•Few modern cities can compare to Dubai – a land where the sands of the desert reveal the potential for one of the most significant hubs of the 21st century.
•In this city, quality is not just a strategy. It is a style of working, living and thinking – contributing to the growth and success of a vibrant community.
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Economic History of Dubai and the United Arab Emirates
Throughout history Dubai has operated as a trading hub for exports to the Far East, India, and Africa. Historically its entire economy was built on its reputation and position as a trading centre and at one time Dubai was a very underdeveloped state. All this changed in the 1960s with the discovery of oil in the United Arab Emirates.
By 1985 the UAE had the highest per capita income in the world and the black gold profits have enabled the United Arab Emirates’ forward thinking leaders to invest in capital improvements and social services and to implement numerous construction projects through which the infrastructure of each of the seven states has been massively expanded and successfully modernised.
The establishment of the UAE has been good for the entire region, bringing stability and unrivalled economic expansion to the Arab world.
Dubai is the second largest of the seven states forming the United Arab Emirates and the fastest growing both economically and in terms of population.
Oil and the petroleum industry dominate the economy of the UAE with Dubai’s strong economy having been especially buoyed by its oil industry. However, the state’s leaders are aware that oil reserves can only last another 30 or so years and have embarked upon an aggressive and major diversification program.
It is hoped that Dubai’s dynamic and far reaching developments in the industrial and commercial fields will result in these enterprises taking the place of oil as the predominate commodity for the state’s economy - without reducing the state’s wealth and dominance. This policy has already paid dividends and brought about very positive results for Dubai, as the city is now recognised as a prominent industrial and commercial world player.
Dubai welcomes investors and entrepreneurs, foreign workers, international companies, individual investors, and above all it welcomes investment and development. It is a future focused forward thinking state, and nowhere is this more obvious than in the infrastructure that Dubai has developed, and the free zones it has established to encourage international investment.
Jebel Ali Free Zone : The largest commercial and industrial ‘free zone’ in the Middle East and offers the best tax incentives in the world for both private investors and commercial business
Dubai Internet City and Dubai Media City (referred to jointly as DIC). Home to companies such as Microsoft, Reuters, Canon, McGraw-Hill and CNN
Dubai International Financial Centre (DIFC) An onshore capital market designated as a financial free zone.
Dubai Maritime City. This will be a 2.5 million square meter marine development to service key marine and maritime related industries,
FAST FACTS
Capital: The United Arab Emirates (UAE) comprise the seven member
states of Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah
Population: Estimated to be 2.94 million. Dubai has become the most populous
city in the UAE. An estimated 1 million people live in this city
Area: 83,600 SQ KM
Time Zone: UAE Standard Time is 4 hours ahead of Greenwich Mean Time
(GMT+4).
Languages: Arabic is the official language of the United Arab Emirates.
English is also widely spoken, as are Hindi, Urdu, and Persian
Religion: Islam is the official religion of the country
Currency: Emirati Dirham (AED)
Weather: Winter sunshine averages eight hours per day, while the summer
figure reaches as high as eleven hours a day. The best time to visit
is between October and May. The hottest time is from June to
September with little rainfall.
Electricity: Electricity is 220 Volts. 3-pin sockets are readily available
International Codes: Ireland to UAE 00 + 971 + Area Code+ Tel #
UAE to Ireland 00 + 353 + Area Code + Tel #
Entry Regulations: There are several types of visas for visitors to Dubai. Citizens of Western Europe and Pacific Rim will be granted a free of charge for One Entry Visit visa on arrival in the UAE. The Visit Visa applies to tourists who wish to spend more than 14 days in Dubai, those coming for family visits as well as those on long-term business visits. It is recommended that you check with the nearest UAE embassy for the latest visa entry information or contact the Dubai naturalisation and residency administration department.
Guide to UAE (Dubai)
The United Arab Emirates (UAE) is located in the Middle East. The country has seen vast growth in the business and tourism sectors over the last number of years which has contributed to a big construction boom throughout the Emirates. The country is well renowned for its sun, sand and duty-free shopping and is becoming a popular destination for expatriates due to its superb infrastructures and excellent tourist amenities.
The United Arab Emirates (UAE) comprise the seven member states of the capital Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.
Abu Dhabi
Abu Dhabi is the capital of the United Arab Emirates and is the largest of the seven emirates. It is a very modern city which is steeped in ancient culture. The emirate offers something for everyone from a bustling city (which is a shopper's paradise), to a number of beaches and beautiful scenery.
Dubai
Dubai has gained in popularity in the recent years and is the the second largest Emirate in the UAE. It is one of the fastest growing cities in the world and is waiting to be explored. It boasts sun shine every day of the year, modern facilities and infrastructures fused together with eastern hospitality.
The Palm Islands named 'The Eighth Wonder of the World' are the world's three largest man-made islands, which are being constructed on the coast of the Dubai – making this another ideal investment opportunity for this already popular Emirate.
Click here for a list of our Dubai United Arab Emirates Property >>
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