The Dubai property market has been among the best property markets of the world for several reasons like encouraging business atmosphere, high rate of return on the investments, and most of all the quality of construction.
The rapid growth in the property market has inspired many around the globe and the higher rate of return on the investments has been attracting investors from world over to invest in the property market of Dubai. Since more and more investments continue to enter the market it holds its position among the best property markets of the world. It all started back in 2002 when the government of United Arab Emirates allowed foreigners and expatriates to buy free hold property in Dubai. The tourism industry of Dubai also started evolving at the same time which amplified the demand of properties in Dubai. It was this increase in demand of commercial and residential properties that brought in tons of investments in the property sector. These massive investments resulted in the construction of some of the most amazing, unique, and spectacular construction projects with the best quality of construction the world has ever seen. It is due to this fact that buyers from all over the world are attracted to buy Dubai property compared to other places in the world further increasing the demand of real estate in Dubai.
The government has also played a key role in this rapid growth of real estate in Dubai, they established The Regulatory Authority which kept all the property construction under strict check and balance over its architecture, material used in fact the overall quality. And since there is a lot of construction taking place, a number of new ready to sell Dubai property in some of the most outclass developments in Dubai enter the market every now and then providing more options to the buyers. This also adds to the confidence of the as they are sure of the quality they are getting, this is people that have experienced the standard of quality in Dubai never hesitate to buy property in Dubai. The fact that there are so many options for buying property in Dubai that will it take very long to check all if physically have to go there. The best way to search for your desired property is go over the internet and search for key words like “sell Dubai property” and you will get plenty of options in reply.
The government’s efforts should also be acknowledge for creating an encouraging environment for business activities. The legal processes for businesses especially for buying and selling of property were made very easy and infrastructure was developed up to international standards and an overall safe and secure business friendly atmosphere was created for enhanced business activity. Most of the people that tour Dubai stay here for a short period of time which increases the demand of rental properties in Dubai especially apartment for rent Dubai is very much in demand. An apartment in Dubai offers a lot of flexible options from budget to luxury with home like privacy and comfort which is why it is the most preferred option among all and is asked for by almost every one looking to buy or rent Dubai property. This is why apartment for rent Dubai can easily be found in any of the projects being constructed here.
Real Estate Development of Dubai and its Implications and Impacts
The decision of diversification by the government of Dubai can be considered a great decision since the rapid growth of real estate projects of Dubai has become the threshold of the popularity of Dubai as a place for tourism and sightseeing as well it has helped Dubai in earning various titles regarding the construction of buildings and structures.
Effects on Economy of Dubai due to the Creation of Business Bay
Dubai’s economy has been increasing since the previous few years. The construction of master plans such as Business Bay, Jumeirah Lake Towers, Burj Dubai, malls like Jumeirah mall, Dubai Land and the Mall of Arabia have given a view of the future success and development of Dubai.
The Developments in Dubai and the Dubai Marina
The tourism industry has started to develop in the city of Dubai over the past few years due to the steps undertaken by the government to avoid the complete dependency of the economy of Dubai on the oil production business. For this purpose, many different projects have been undertaken which include Dubai Marina, which is a man-made marina and a mini lake city that will consist of residential structures.
