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Dubai and the Pros and Cons of Investing in Its Property Sector

Jul 4, 2008
Dubai, as a property investment destination is poised to be a top choice property for a while yet, according to research from an overseas investment portal.

Enquiries to the website from over 170,000 visitors in January 2008 give an early indication that Dubai is one of the most sought-after locations, according to the company.

The research also points to an investor trend towards lower-priced properties. "Over 50 per cent of visitors to the site were seeking property in the overseas market for 60,000 or less."

With the average cost of a property in Dubai still remaining reasonable, it is of no wonder why Dubai was voted the top investment hotspot for January 2008 - with many clients coming from the British Asian community - despite the region witnessing a development slowdown as new laws take effect.

"Interest in the United Arab Emirates from visitors on the web has soared over the last month, with the progressive Federation breaking into the top ten of our 'Top of the Props' chart for the first time..."

This is a positive reflection, as one can see that the property sector in Dubai is progressively growing, and has maintained profitable margins whilst continually providing lucrative opportunities for keen property investors.

In conclusion, as is perfectly worded by the authors' of a large property portal: "Never content to rest on its laurels, the UAE's defining characteristic seems to be its unshakeable quest for continuous improvement - something that has underpinned the success of States like Dubai and Abu Dhabi. And with major infrastructure investment occurring across the Emirates, it's an exciting time for prospective investors."

One thing is clear, as en emerging and steadily progressing property sector, Dubai has become a force to be reckoned with.

Dubai has been at the forefront of most property news portals for quite some time now, reflecting the immense popularity and strength of economy the country is experiencing at present.

An affirmation by media and real estate mogul, Donald Trump, in which he personally announced recently his long term commitment to Dubai property, bodes incredibly well for the emirate, especially when one considers the fact that when it comes to real estate the name Donald

Trump is synonymous with "both investment success and luxury grade property and what's more, the name carries a great deal of weight in terms of providing investors with deep confidence in a given project, a location and even an entire nation."

So far Trump has remained dedicated to Nakheel and together the corporate-empires are entering into a strategic joint venture for the construction and implementation of the Palm Trump International Hotel and Tower on Palm Jumeirah.

Trump's commitment to create "the most luxurious residences and hotel-condominiums that Dubai has ever seen," is the force guiding the accurate construction of the developments - ensuring benefits for the country as well as the developers.

Trump's certitude to enter Dubai now simply translates into how he is amply confident in the emirates and the status of property in Dubai, its economy and government and it appears that Trump is also personally quite sure of the long term appeal of Dubai as well.

Trump recently advised that to him "it is the government's commitment to building a first-class economy with a first-class infrastructure that makes Dubai so appealing" and that he is "excited about Dubai's growth potential long into the future because Dubai is now becoming the gateway between Europe and Asia."

In these comments he manages to summarize exactly what it is about Dubai that is actually drawing unswerving heights of continued international investment into the property sector. Time will also prove how Trumps words of positive reinforcement will only mean that even more global interest will be focused on property in Dubai from now on.

One matter, however, that will always be cause of trepidation, especially in a country as hot as Egypt is, remains the supply of water.

Great news for Egypt, its inhabitants and investors alike is that it the once prevalent problem of water supply now appears to be taken care of, as it was announced that Dubai will have the worlds' largest reservoir.

"The Mammut Group begins work on giant storage tanks to hold 180 million gallons of water. Construction of the reservoirs will take 15 months with preliminary prefabrication work being carried out at Mammut Group's 300,000 square metre facilities at Dubai's Technopark."

According to DEWA statistics, "Dubai currently has a water capacity of 262 million gallons a day - due to rise to nearly 800 million gallons a day by 2015. The Mushrif reservoirs will expand DEWA's current water storage capacity from 235 million gallons to 415 million gallons."

Announcing the package of expansion projects, Saeed Mohammad Al Tayer, Managing Director and CEO of DEWA, said they would "satisfy the unprecedented growth in demand for DEWA's services for the ambitious projects in progress."

According tom reports presented to the media, the three giant Mushrif reservoirs will cover a total area of approximately 165,000 square metres, whilst measuring 372 metres in length, by 169 metres in width and 5.6 metres in depth. They are expected to consume 270,000 cubic metres of concrete and to make use of 27,000 tonnes of reinforcing steel.

This is another positive move made by the political authorities of Egypt, to ensure the adequate and necessary infrastructure be put in place - in order to sustain the emergent and ever-flourishing Egyptian economy and property in Egypt sector.

It is plain to see that Egypt is still on the rise, and with its ever-growing economy, one should not be surprised with an increase in even more developments on the rise, as investors clamber to Egypt's shores in hopes of staking claim to their own private haven in the land of pharaohs'.
About the Author
Property Select offers a comprehensive selection of overseas Property in Dubai, news, members club and reviews of the latest property developments.
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