The emirate of Dubai in the United Arab Emirates is one of the largest hubs for business, entertainment and tourism. The metropolitan haven is a magnet for expatriates looking to run businesses whilst enjoying life in an urban setting. Real estate is an established long-term investment option in Dubai. Real estate within Dubai is unique, as the market has a proven track record in both purchase domains: personal use and investments. This makes it an exceptional arena for investment for a copious amount of reasons, including:
1. Absence of Property Tax
Ordinarily, investing in real estate within major cities in the world is accompanied by a significant property tax. The United Arab Emirates offers the opportunity of purchasing property free of this property tax, automatically cutting costs on an initial investment.
2. Residence Visa
A major benefit of purchasing an off plan property in Dubai is the residence visa. Purchasing properties valuing AED 1 million and above enables the investor to qualify for a residence visa. A residence visa will allow the investor unlimited entry into the United Arab Emirates, ensuring ease of property management, as well as easier access to the host of attractions that the United Arab Emirates has to offer.
3. Leisure Hub
Dubai is one of the most frequently visited tourist destinations in the world. It is home to the tallest building in the world: The Burj Khalifa. The Burj Al Arab, Atlantis the Palm hotel, Ski Dubai, and Dubai Opera are only some of the countless attractions that are present within the emirate. Dubai is also undoubtedly one of the premium shopping hubs in the world, not least due to the largest mall in the world: The Dubai Mall. With world-renown brands on offer, tourists from far and wide flock to the emirate to experience the retail haven that the city provides.
4. Weather
The emirate of Dubai offers the almost unprecedented combination of the warm backdrop of a middle eastern desert, coupled with all of the amenities and luxuries of a modern-day city. The warm heat of Dubai is certain to attract residents and investors alike to experience the gorgeous sandy beaches from the comfort of a luxury holiday home.
5. Infrastructure
The skyline of Dubai is adorned with magnificent skyscrapers, with the Burj Khalifa at the heart of it, set in the center like a jewel in a crown. The buildings in the cities are designed by some of the best architects in the world and showcase impressive heights of world-renowned infrastructure.
6. Ease of conducting business
The emirate of Dubai is ranked as one of the top cities in the world for the ease of conducting business. This ranking is based on key considerations such as the process of business establishment, and the convenience of permits. The organization of free zones within the city encourages trade and boosts the every-growing economy of the country. Young professionals, businessmen, and investors from all over the world come to work or invest in an opportunity in Dubai due to these business regulations and the tax-free nature of the country.
7. Tolerance
The city of Dubai is a welcoming and tolerant place. The multicultural nature of the country allows for residents to live in harmony and peace whilst simultaneously sharing cultures through numerous restaurants and festivals. This tolerance, combined with the low crime rates in the emirate, ensures that Dubai is an extremely popular place to reside in.
