The Jewel of Middle Eastern Countries and the Future Leader for Economic and Financial Activities
Dubai has become one of the great centers for culture and finance over the years. With its booming economy and ever increasing foreign investments, the economy of Dubai destined itself for a long time to come. As, the real estate sector of any country depends upon the economic conditions with law and order situation of country; Dubai fortunately have both of these sectors on firm footings hence the real estate Dubai is one of the safest and profitable sector and can be compared with any other mega city of the world.
The authorities of Dubai have taken many steps in order to make foreign investors comfortable with the laws of the land. As with all other Arab countries, the immigration and settlement rules in Dubai were very strict but seeing the increasing interest of investors and tourists from around the globe, the local authorities of Dubai has taken many important steps and made certain useful changes in order to attract and lure more and more investors and tourists. One of the most important changes that were made was regarding immigration and settlement law which were made much simpler and investor friendly; investors were allowed to own their property inside Dubai which was real morale booster for many people and investors. All this coupled with many other changes and alterations in the laws enhance the Dubai real estate sector and helped it grow faster and faster than ever. Today, the real estate in Dubai is on the verge of breaking all international records and flourishing with deep firm roots in ground. Many multibillion dollar projects are being currently in process of completion and many others are even completed. With all the luxurious and marvelous construction work in progress, one of the most fundamental backlashes faced by dubai real estate is the growing inflation rates which are already in double figures hurting the growth speed quite badly. Real estate in Dubai today is facing most serious backlash regarding inflation and to overcome this major concern affecting locals as well as international investors, local authorities have started many projects keeping in mind low cost and budget affective houses schemes. These low cost houses and offices are given special emphasize by authorities for real estate Dubai as this will serve as future prospect for luring investors. With these affordable houses and offices, there are other options that are currently being discussed among authorities in order to overcome the issue of growing inflation and it is expected that with the firm determination and will Dubai will be able to overcome this hurdle sooner than later.
Keeping inflation aside, there are many positives which are enough to attract any tourist or investor towards Dubai. The engineering marvels in infra-structure including the biggest artificial islands Palm Jumeirah and the tallest skyscraper Burj-Al Arab are enough for starters and there are many more to go.
Dubai is probably one of the same beast’s international worlds a global village where people from different backgrounds and religion combine to produce a truly global lifestyle. With people from the public and big business that the situation in Dubai is truly a land of opportunity and dreams. Given the solid foundation, what is happening in the economy of Dubai today, it is difficult to predict the existence of different economic factors that Dubai’s economy to new heights in the near future.
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