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Tuesday, October 07th, 2008
Dubai continues to attract record numbers of expatriates every single year. The appeal of the emirate and its main city is broad and encompasses the fact that employment opportunities in Dubai are strong and also generally very well paid. With the added benefit of tax breaks for individuals and companies, Dubai is certainly a very popular choice.
Recent data from the Ministry of Economy in the emirate shows that by the end of 2009, if population growth remains on track, Dubai will overtake Abu Dhabi for the first time as the most populous emirate. The population swell is being fuelled largely by western expatriates who want to experience living in Dubai, working in the emirate and enjoying a tax-free lifestyle in a playground in the sun.
On Shelter Offshore we have long understood the appeal of both living in Dubai and also of investing in property in Dubai, which is why we have dedicated sections to both subjects. In this article entitled ‘The Best of Living in Dubai’ we will take you on a guided tour of our most informative guides to the emirate, so that if you’re planning a relocation or property purchase you can quickly access the information most relevant to you.
Morgan Stanley report today that Dubai has been hit by an over supply problem as more and more projects reach completion while the demand fails to increase proportionally. They also say that in a worst case scenario that the Dubai property market could actually plummet by up to 80% in the same way the Singapore market did in the 1990s. So is the Dubai property market on the verge of collapse?
The first and critically important thing to take on board has been the huge 79% growth in property prices since early 2007. One would naturally expect some form of correction especially in the current world market situation where rational and logic have added a new air of caution to all investment markets.
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The heat really is on in Dubai at this time of the year – July and August are the most uncomfortable and unpleasant months to be living in Dubai or even to visit the emirate for that matter (hence the cheap holidays you may have seen advertised.) However, if you’re living and working in the UAE and Dubai is your base, you’re going to have to find ways to cope with the oppressive humidity and the searing and soaring temperatures.
The super wealthy and those who enjoy a certain amount of employment flexibility can of course choose to ship out during the summer months and visit Europe perhaps, or holiday at their second home somewhere less intensely hot. But for the rest of us, do we just have to grin, wilt and bear it? No, fortunately, as long as we don’t care about global warming there are plenty of things to keep us all busy and cool and happily surviving the summertime living in Dubai!
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According to the Research Unit at Mashreq Bank and the Macroeconomic Research Centre in the UAE, the UAE’s population will increase to in excess of 6.41 million people by 2010 compared to 5.19 million in 2007. In other words, the population of the UAE is predicted to increase by 18% by 2010 largely fuelled by expatriate arrivals. And Dubai alone is expected to attract over 50% of these new expatriates! So, if you’re moving to live in Dubai and you want to know what to expect from your new life, you are certainly not alone.
In this article we’ll explore what newly arrived expats living in Dubai can expect – covering both the good and the bad aspects of the emirate!
Read On...The rate of population expansion in Dubai is not abating; so far there are some 1.4 million people living in the emirate, of which at least 75% are expatriates. By 2020 it is predicted that the population will grow to reach 4 million and even this will not be the end of the growth that the emirate will witness. So, with all these people arriving and all that construction going on to house them, what’s it like living in Dubai?
This is a question that increasing numbers of professionals are asking because they are seeing the very real opportunities that exist in the emirate for people like themselves, but they are concerned about the realities and practicalities of living in such a rapidly expanding country, where the cost of living is reputedly high and the pace of life reputedly quite fast. In this article we’ll take a closer look at what it’s really like living in Dubai at the moment.
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