Dubai has grown into a global giant prospering into vast dimensions of advancements, unleashing its true potential against all odds. It has taken on the power required to shape economies and societies to become a world leader. However, all of this anticipation requires proper planning and framework that will guide Dubai through and gain competence among other Middle Eastern Nations. Dubai has growth opportunities in various industries, which plays a pivotal role in determining the city’s economic future success and stability. Investment, Return to the producer and Satisfaction of the customers are the key vectors into fast-growing markets.
It is quite clear that world dynamics are changing and people are migrating in different states to lead a life they have always wanted, but preferences have taken different routes as people tend to settle in Middle Eastern land and without doubt Dubai is the future. Dubai has emerged as a business hub and it was rated as one the best places to reside in by the American global consulting firm known as Mercer. Dubai’s GDP is calculated to be at 107.1 billion with a growth rate of 6.1% in 2014. Dubai’s real estate sector market has had its ups and down but the property boom cycle has started, and as we see different residential projects emerge and come onto the scene, it is clear that the demand of residential areas never stands low. Dubai’s demographic census shows that it holds a variety of people from different religious and cultural backgrounds and it’s the most populous city of United Arab Emirates. The real estate market in Dubai took a rebound from 2012 and it looks much less vulnerable to any downturns in 2014. Estimates show that since 2014 residential prices rose 3% and for properties less than 10 million Dirhams, it fell 5.2%. Gulf economic officials propose that these changes are the impact of prevailing oil prices and this needs to be controlled in order to cut down negatives for the property business.
Sellers in Dubai are now willing to sell for reduced prices to minimize their exposure to risks but there is transparency in the dealing and protection for investors’ deals. Dubai is crossing boundaries and reaching out to people from all over the world and with the up scaling tourism industry we can see that families with kids are moving into rather smaller residential premises. The need for labor is another factor bringing in individuals who would in later years settle in Dubai due to work commitments. The age element varies from adults of 25-35 yrs of age who are moving more into rentals rather than purchasing residences. Whereas the elite group has its interests in newly built buildings, which are much more luxurious and they are willing to pay an extensive price.
An investment like this should be pursued with in depth understanding and knowledge of the market they are in. Prioritize the requirements and balance them out with benefits to get a full preview of the deal you are putting your money into. However, Dubai’s real estate market continues to perform well and exhibits its long term growth commitment.
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