Located on the southern coast of Persian or Arabian Gulf, Dubai is the 2nd largest of the seven emirates that constitute United Arab Emirates. Dubai has a population of 1.35 million inhabitants of which majority consist of expatriates. Dubai has the biggest population among other cities of UAE. Major parts of Dubai consist of rolling sand dunes. During the last few decades, Dubai has experienced a hasty development in every field of life. Twenty years back and you would find Dubai, a city inhabited by itinerant Bedouin roving across with their flocks and herds. Today, Dubai has become one of the most modern cities in the world. With the continued boom in industry sectors such as tourism industry and Dubai Property industry, Dubai has fast become the center of attraction for millions of people and businessman around the globe.
To some extent, Dubai is little different from rest of six Emirates of UAE. Unlike other Emirates, revenues from oil products contribute only 6% of the Gross Domestic Products of Dubai. The major contributors in its GDP are the tourism sector and the real estate sector. Later has gain a significant importance in the economical growth of Dubai. Today Dubai proudly holds some of the tallest skyscrapers in the world.
With nonpareil facilities and lifestyle on offer in Dubai, many people are planning to make Dubai as their second home. Some are even planning to relocate their. This has resulted in an increase in the property demand in Dubai. The increase in the demand of residential apartments in Dubai has forced the hike in price for properties in Dubai. With the announcement of new laws for property in Dubai, Dubai has able to magnetize many property investors around the globe. According to AME Info (leading press release website about Middle East), a massive investment of USD 4 billion has been committed in the Dubai property market since the passing of new laws for property in Dubai.
Dubai Investment Fund has planned to broaden the horizons of property investment across the following three branches of Dubai property market.
• Commercial Property in Dubai
• Industrial Property in Dubai
• Residential Property in Dubai
DIF has aimed about 15 to 20% annual growth in the investment funds for Dubai property sector. One of the major developments in Dubai real estate market has been the announcement of new Dubai Freehold Property Zones. Expatriates can own property in Dubai in these zones either on permanent basis or on the basis of 99 years lease. This factor has significantly intensified the Dubai property market. All of a sudden, Dubai property market converted from an average local market into a full of activity international market. With matchless lifestyle Dubai has now become the heaven for millions of people in quest of a trendy and out of this world lifestyle.
The Dubai property prices have shown a significant upward trend during the last few years. Dubai property market has seen a 40% increase in the rental price against the property for rent in Dubai during the first six months of 2005. The price of property for sale in Dubai has also seen an increase between 20 to 50% during 2006. According to many real estate experts, this is the best time to invest in Dubai property market as prices are set to see more heights during the upcoming years with ever increasing property demands. Many investors are turning to invest in Dubai property market to take home their share of benefits that Dubai property market has on offer for its investors. There is a lot of profit on offer in Dubai property market if you can play your cards well. All one needs is the careful survey of Dubai property market.
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Cost to build labour camp in Dubai
By: Michael | 05-08-2008
I am considering to build a labour camp in Dubai, in DIP or DIC area, and to rent it out afterwards and want to run some quick calculations based on 'rule-of-thumb'. Have heard various estimates on construction cost, ranging from 150 to 600 dirham per square foot, but such range is of course too wide for a relatively simple building set-up (G+2, or G+3).
Can anyone shed some light on what realistically construction cost should be, and any 'hidden' cost (municipality?) that I should count on?
To arrive at development cost, add 30%?
Any rules-of-thumb greatly appreciated!
Michael, Dubai
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Im a biotechnology graduate.what are its ...
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Im a biotechnology graduate.what are its possibilities in Dubai?. are there any job oppurtunities for biotechnology in Dubai?
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Hi! I am computer engineer and I work with databases.I know work with SQL,XML,ORACLE and more... I want to work in Dubai because I like growing cities,and chalenges...
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