Dubai – a state in the United Arab Emirates (UAE) moving away from the traditional business of oil into a varied and more balanced economy based on tourism and services. Because of this, its economy has grown multiple times and more tourism resorts are coming up. Dubai is becoming a financial services hub especially with an ever increasing number of foreign professionals coming for work with high pay and tax free status, its average rental yields of properties is above average there and a single room studio apartment is currently the best in terms of rental as the expatriates working in Dubai are single individuals.
Dubai excels in other sectors of industry such as construction and real estate because of the sheer number of malls, offices, commercial establishments, shopping complexes and residential complexes coming up. Being strategically located at the entrance of the Arabian Peninsula gives it a distinct advantage as the entry point to the peninsular Arabia.
The city of UAE is flocked by qualified and trained personnel from all over the world attracted by its tax free zones and software parks. Excellent transportation and telecommunication systems keep it very well connected.as a result, it has emerged as the hub of international corporate and centre for conferences and business meetings. Its great aviation connectivity makes it easily accessible from every other part of the world.
This creates a great real estate investment opportunity if you intend to invest in Dubai. The cost of property in Dubai is very low compared to the international standards and there is a high chance of large capital appreciation increase. Because of favourable conditions, the prices of real estate investment in Dubai will soar in future. Dubai represents one of the top markets where you can invest you money as well as spending some time considering shopping because of freedom it offers from taxes.