Investment guide: Dubai, United Arab Emirates
Dubai is the most exciting location in which Universal Property Agents (UPA) operates, this city-state has seen phenomenal growth in recent years and continues to excite and impress with state of the art engineering projects on a scale never before seen.
With what will be the world’s tallest building, the Burj Dubai, large-scale man-made Island complexes such as The World and the Palm Islands to the largest, biggest, and the best entertainment cities and business complexes, Dubai developments set the standard by which others are judged. In fact Dubai has the fastest growing population in the world, in excess of 24% per year. This is coupled with the success of the economy with GDP growth of 6.7% in 2005 to $74.67 billion.
UPA believes that with the intelligent planning and billions of dollars of investment pouring into Dubai within a short time Dubai will be vying with the likes of Singapore, New York, Hong Kong and London as being one of the leading locations for worldwide business.
The government has now decided on a drive to move the employment market away from overseas workers on short-term contracts, making a marked effort to retain workers and build up a permanent working culture. In 2002, the rulers decreed that foreigners would be legally entitled to own freehold property, rather than the standard 99-year lease on property, with a free resident’s visa for any property purchaser as an extra incentive.
Dubai already has a significant international corporate presence with major long term commitments from global corporations such as Microsoft, Reuters, Ciba- Geigy and HSBC to name but a few. Enticing businesses to move to a spectacular setting with state of the art communications and facilities has not proved difficult.
  Dubai Property & Real Estate
 
Dubai provides the prestigious, successful, dynamic environment that goes hand in hand with companies’ corporate images, whilst providing a comprehensive business infrastructure and a wonderful environment for staff to enjoy. Despite the huge volume of skyscrapers, residential and commercial developments, the resale and off-plan markets have not been dampened. It is highly unlikely that the market will become saturated, and leave investors with properties that cannot be filled or sold.
This is due to intelligent planning to ensure that there is sufficient demand for properties before permission to build is granted.

The demand for quality rental accommodation currently far outstrips supply, with apartments being often snapped up the day they are released onto the rental market. With the projected increases in tourism (from 5 million to 15 million visitors by 2010) business relocation and permanent population (up from 1 million to 3 million in the next 3 years) demand is set to continue at a frenetic pace for years to come.

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