Dubai is a multi-diverse city that attracts the high and the mighty. It’s a rare destination for shopping and entertainment. Dubai economy has grown exponentially in every field.
This attracts foreign investors because it provides access to important markets like Africa, Asia and the Middle-East, Europe and America are not left behind.
Surprisingly, notable investors gather yearly to seek investment opportunities and make good profits. Some of the reasons you need to make haste to invest in Dubai Real Estate include:
- Exponential Economy
Every potential investor will take a closer look into a country’s economy before putting a dime on the soil. All economic indicators on UAE are showing green-light to potential investors that the figures will be good in the years ahead.
Though, Abu Dhabi’s economy recently suffered the punch of recent oil crises, Dubai has flourished and came out as champion of planning and economic growth in MENA region.
- Global Tourist Attraction
Dubai attracts tourists who are fascinated with how this city managed to become a jewel of the desert. The country has number of attractions in its bucket.
Various arts and cultural festivals such as Dubai International Film Festival, and Dubai Jazz Festival as well as sporting events like Dubai Golf Desert Classic, Formula 1 Race (Abu Dhabi), Rugby 7’s, Dubai World Cup of Horse Racing and international cricket matches.
- Optimal Security
Dubai is one of the safest cities in the world with a low crime rate and an efficient legal system.
A good investor always makes sure that the city in which his/her property is located is safe, and the UAE is not only the safest country in the MENA region but in fact, one of the safest in the world with crimes and theft almost never heard off.
It is one of the major reasons why people find it reliable to move to Dubai and start their lives.
- Ease of Doing Business
According to the Doing Business 2019 report, the UAE scored 11th rank globally and 1st rank regionally. The UAE scored impressive ranks in the following indices:
- Getting electricity – 1st rank
- Paying taxes – 2nd rank
- Dealing with construction permits- 5th rank
- Registering property – 7th rank
- Enforcing of contracts – 9th rank
- Protecting minority investors – 15th rank
- State-of-the-Art Infrastructure
In the March of 2016, Dubai announced to set up world’s biggest wholesale city with an investment of AED 30 billion.
The country has the tallest buildings in the world, Burj Khalifa. Dubai International Airport claims the dual titles of the world’s fastest growing airport and the world’s sixth busiest airport in terms of international passenger traffic, handling 41 million international passengers in 2009.
Jebel Ali Port is the world’s largest man-made port, and estimated more than a 40% increase in its cargo container throughput from 2008 to 2009.
- Relaxed visa rules
Purchasing a property worth at least Dh1 million now allows the investor to apply for a residency permit.
In May, the country implemented a law that allows 100 per cent foreign ownership of companies, followed by the introduction of a 10-year residency visa for investors and specialists.
- Higher yields
Dubai offers an average yield of 7 per cent, better than the average yield in international property markets such as Hong Kong (3 per cent) and Singapore (4 per cent).
- Regulatory framework and transparency
Dubai’s real estate market is one of the best-regulated in the GCC with the government having adopted several measures such as the escrow regulation, rental cap, rental increase calculator, and a rental dispute settlement centre.
These reasons are enough for any investor to invest in the real estate sector of the country.