Exploring Property Developments in Dubai and UAE

Summary: taking a look at the latest property developments on the Dubai and UAE real estate landscapes

The breakneck speed of Dubai’s development into an international real estate investment hotspot is showing no signs of slowing down.  New, highly modern property developments abound within the whole of the United Arab Emirates, many of which are in Dubai and all of these give Dubai’s real estate landscape a distinctly ‘different’ and unique feel.

If the warmth of the Persian Gulf, the tax free lifestyle of the UAE or more specifically the pristine sands of Dubai’s beaches appeals to you, you’re in for a few unusual sights along the UAE and Dubai horizons in coming years!  Although this market has matured somewhat, it has settled in to become a stable, high-end attractor.  New construction continues to be announced to accommodate the anticipated influx of new residents and investors in the coming years, and today we’ll be exploring property developments in Dubai and the UAE.

We’ll explore some interesting new additions coming to Dubai and Abu Dhabi - one involves the creation of a new residential facility, the other is a more holistic plan put forth by the government to further develop support for increasing residential developments.

Al Odaid Real Estate has unveiled plans to build three mixed-use towers in Abu Dhabi.  Two of the towers will cater to commercial interests, but the third, the Palm Tower, will boast a number of exclusive residences.  This community will be built in Desert Towers and is being developed by Al Qudra Real Estate as mentioned.  This particular tower property development in the UAE is expected to include 26 floors of exclusive residential space.  Designs for the tower show it being a dominating presence in the cityscape.

In the meantime Dubai Real Estate Corporation, an arm of the Dubai government, is working to improve infrastructure and attractions in Dubai.  The corporation plans to develop hospitality, entertainment and leisure opportunities within the emirate and this is being done to coincide with efforts on the part of the government to increase investment and tourism as well.

The corporation was created by royal decree this past summer.  Overall, the Dubai government is working to increase infrastructure capacity as it invests in making the country more attractive for expatriates and tourists who want to get away from it all while still enjoying highly modern conveniences.

Interest in property in Dubai remains high despite a real estate market that has now reached rather high-end prices!  It is estimated that more than 800 visas a day are issued for new arrivals in Dubai and so as more expatriates make their way to this country the population is expected to rise to 3.5 million by 2010, which would be up from about 1.6 million today.

While buying property in Dubai will set investors back a fair amount, this market is showing no signs of slowing down and a recent announcement by global banking giants Barclays International that they can offer highly competitive and attractive mortgages in Dubai to expats will likely boost the market further.  Available properties range from off-plan purchases to existing flats, condos and freestanding villas.  By all reports, Dubai continues to offer a very strong appeal for expatriates from all over the world and is expected to do so for many years to come.

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