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Hottest Dubai Developments
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| 1 |  | Club Toscana
Discovery Gardens, Dubai, United Arab Emirates | AED386,880 (£ 60,863) | | 2 |  | International City Morocco
Al Warsan, Dubai, United Arab Emirates | € 58,000 (£ 39,723) | | 3 |  | The Cresent
IMPZ, Dubai, United Arab Emirates | AED469,000 (£ 73,782) | | 4 |  | Red Residence
Dubai Sports City, Dubai, United Arab Emirates | AED800,100 (£ 125,870) | | 5 |  | The Executive Towers
Business Bay, Dubai, United Arab Emirates | AED1,694,480 (£ 266,572) | | 6 |  | Kensington Royal
Dubai Sports City, Dubai, United Arab Emirates | AED720,380 (£ 113,329) | | 7 |  | Arabian Crowne
Dubailand, Dubai, United Arab Emirates | AED2,147,250 (£ 337,801) | | 8 |  | XL Towers @ Business Bay
Business Bay, Dubai, United Arab Emirates | Price On Request | | 9 |  | The Windsor
Dubailand, Dubai, United Arab Emirates | AED1,246,100 (£ 196,034) |
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"A metropolis rising from the dessert - exciting
new destination" |
Dubai is a great year-round sunshine
destination for retirement, vacation and even
permenant residence and with such modest real
estate prices, the cleverest property buyers are
starting to pay attention.
May 2002 heralded the start of Dubai real estate
revolution when Crown Prince General Sheikh
Mohammed bin Rashid Al Maktoum issued a decree
allowing foreigners to buy property freehold and
sparked massive international interest in the
Dubai property.
Dubai is a
safe city built on free trade, openness to
foreign investment and good business practice.
Its vision is to create a tourism market to
rival major vacation players such as Disneyland.
With an entirely new property market yet to
publish its real estate law and a developing
mortgage market, clarification of legal status
and availability of finance are two major
factors likely to push up capital values. Prices
are inexpensive by comparison to other similar
trading hubs around the world, and are up by
more than 20% in the past two years. There is
scope for a substantial further rise, and
certain properties have doubled in value
already.
Most property construction is centred around
uptown or New Dubai, the heart of this new,
rapidly growing, prosperous city which stretches
from Jebel Ali Free Zone to Dubai Internet City
and back into the desert behind. However, in
downtown Diera there are exceptions, and the
prominent International City project is another
indication that
future developments will also be outside
this zone. Development is already progressing to
the next major focus of the
Dubai real estate story, the
Burj Dubai in mid-town, set to be the
tallest building in the world.
With imminent completion of the first massive
projects such as the Dubailand theme park, Dubai
International Financial Centre and the Palm an
artificial island being built off the coast of
Dubai estimated to be costing around $2 billion,
this looks a wise time to invest in this
strongest of middle eastern real estate markets. |
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Dubai Property
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