If you’re looking to make an investment, commercial or residential, without a doubt, it should be in Dubai!
Real estate investment is a recognized long-term investment in Dubai, and since 2002, the most populated city in the UAE has become a hub for property investors from all over the globe.
From dusty old tracks and a vast desert that was a humble trading settlement, to a globally recognized hotspot for investment and cultural exchange, Dubai has managed to take great strides.
Given its history, the record growth that Dubai has managed to achieve is a testament to its huge potential.
And while investing in real estate can seem like an uphill journey, it can in fact be smooth sailing when your investment location of choice is Dubai. The popular destination has shown so much growth in the past few years! From a holiday and a shopping destination to a staple exhibition host and a literal global investment gold mine, Dubai has proven its mettle as the best destination for real estate investment.
The amount of return on investment in Dubai has skyrocketed in the past few months, and when compared to even the busiest metropolitan cities around the globe, Dubai shows a lot of promise in rental incomes, which are considerably higher.
Let’s discuss the top ten reasons as to why Dubai tops the charts:
No. 1: The Dirham Won’t Let You Down!
The buoyant relationship shared by the USD and Dirham results in increased affordability of UAE real estate for foreign buyers. The Dirham being pegged to the USD implies that the US policies impact it greatly. With the positive strides that the US is making in finance, the Dirham is also only set to grow in influence.
Already an investment hub, Dubai is benefitting greatly from its association with the US, and the connection between their currencies. And remains protected from any adverse effects that political forces may exert. A currency being pegged to the global currency, in this case – Dirham, also means that any sorts of political agitation, if any, within UAE would not affect Dirham. This further secures UAE as a whole.
No. 2: The state-of-the-art infrastructure!
The aerial shots of Dubai have over the years become more than a holiday postcard, a depiction of its rapid growth along with state-of-the-art infrastructure. From the existing world’s tallest tower, the world’d tallest hotel, the world’s largest Ferris Wheel, the soon to be world’s tallest tower, the world’s biggest man made lagoon – Burj Khalifa, Gevora Hotel, Ain Dubai, the Dubai Creek Tower and the Crystal Lagoon respectively – is there anything grand Dubai doesn’t have?
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Known world over for its top-notch infrastructure, excellent connectivity and constantly developing projects, Dubai has been next big destination consistently for years. With The Museum of the Future and the Ain Dubai all set to open soon, the tourist attraction quotient is bound to soar. The Louvre which is already open in Abu Dhabi has one of a kind design and has itself become an art piece that has received numerous awards over the years. Top notch health and education facilities, community living, and retail chains for luxury indulgences are available amply in Dubai.
The high-end office and residential spaces covering the landscape, Dubai is a gold mine of opportunities. From the luxurious Emaar Beachfront to the iconic Dubai Creek Harbour and the absolutely breathtaking District One – there’s a right fit for every kind of investment need in this city. The most efficient and well-equipped seaports, aviation facilities, exhibition and conference amenities; in the world add to its endless list of world-class offerings. As a global infrastructural hub, Dubai city is connected to over 240 destinations across six continents.
No. 3: On its way to be the Happiest country on earth!
How many countries you know have a Minister of State for Happiness in the Cabinet!? UAE happens to be one of those countries that has taken up happiness of its citizens as a serious business! Apart from several favourable conditions in almost every area this country has created, citizen’s happiness levels also seem to top the charts!
A Happiness Agenda has been rolled out in UAE and 60 Chief Happiness and Positivity Officers have been hired and are being specially trained oversees to create a more positive workforce for companies and, ultimately, a more joyful nation.
On its way to being crowned the happiest nation in the world, the government is striving in its endeavours to boost satisfaction in all aspects; be it liberal policies for international investors or offering permanent residency to freehold property owners, further to easing taxes.
Large steps have already been made such as adopting a globally unique, science-based programme to analyse happiness levels, asking people to rate public services with emoji-style reviews, assessing the impact of change and rewarding good behaviour, instead of punishing bad. Quite a one of a kind approach? Don’t you agree?
No. 4: The High Return on Investments
Dubai is known for its high return on investments over the world!
The rental yields in Dubai are almost the double of what even the Alpha++ cities of the world like London, New York have to offer, that is. This is a point worth considering when you think of international investment.
According to Global Property Guide, the average rental yield in Dubai is 7.1%, whereas the rental yields have decreased in London with 3% and Hong Kong with 2.82%.
Even when financial situations get tough in the Middle East, UAE real estate returns continue to rank high. This is especially true for the newer, emerging communities. Investors can rely on Dubai for timely completion of projects. New communities like the Dubai Creek Harbour by Emaar, Bluewaters Island and Port De Le Mer by Meeras, have ample high end retail, entertainment options besides the luxurious residential offerings. From the famous Caesar’s Palace (remember the suite from Hangover movie anyone?) to the world’s tallest tower Dubai Creek Harbour or the world’s biggest ferris wheel, how many times do you get to be neighbours of iconic wonders.
With a progressive, reform-oriented government, a transparent infrastructure, and attractive investment options, Dubai is all set to usher in a new era of foreign investments to its real estate landscape.
No. 5: Never a dull moment!
It continues to be a rare, one-stop destination speaking luxury in every inch, with world-class real estate, hospitality services, shopping experiences, entertainment and theme parks.
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Desert safaris, luxurious spas, beaches, yacht rentals, skydiving and record-setting water parks – you can never get enough of it and Dubai has something for everyone. Offering a superlative quality of life with bounty of endless entertainment opportunities, Dubai celebrates every festival like its own. It is home to leading international hospitality brands and properties; that make you feel like you’re on a vacation every day of your life. A fine array of Michelin Star restaurants, larger than life experiences; say a salient stroll along the Marina with cuisines and cultures from all around the world…or a cozy dinner atop the tallest tower on earth, Burj Khalifa; Dubai has everything to offer that you can dream of.
No. 6: Friendly visa rules!
The remarkable move of offering long term resident visas to freehold property owners allows you to make UAE your ‘home’ and not just a transient country!
UAE continues to grow as the most favourable region to live with its magnanimous return on investment opportunities. UAE might be the most investor friendly country in Middle East by making such investor friendly rules. And in 2019, the rules became even more favourable by extending this offer on commercial properties too.
Ranked as the Middle East’s and North Africa’s top residence-by-investment program for the third consecutive year, one should explore this opportunity as the rules are ever changing!
In addition to this, Dubai now allows visa on arrival to citizens from most countries, even if they only have a transit through Dubai for over 8 hours. Apart from this, an investment worth 1 million AED or more in Dubai makes one eligible to apply for Property Investor Visa. This move by Dubai Land Department’s allow you to obtain an Emirates ID, UAE driving license and sponsor family as well.
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No. 7: Expo 2020: Setting global visions!
A unique exhibition with a universal theme to cater to the needs of the entire world under one roof. As it states “Connecting Minds, Creating the Future”, the upcoming Dubai Expo 2020 is all set to further raise the bar of Dubai as not only a global hub but as one of futuristic smart cities.
An exhibition that promises a sustainable environment, quality education to the future of the world, stupendous business opportunities, the patronage is set to grow by leaps and bounds. Several developers have created one-of-a-kind master communities next to this site. For example, Arabian Ranches by Emaar. A townhouse esplanade of International lakes, golf courses, sports courts, Equestrian club and much more.
No. 8: A multi-ethnic global hub!
Burj Khalifa is a sight to behold whether its Eid or Diwali, Christmas or Chinese New Year! Home to more than 200 nationalities, Dubai is a multicultural hub, and the kind of acceptance and tolerance that exists in the society, it is only set to further grow and stand as an exemplary for peaceful co-existence and speedy growth. From cultures to cuisines, Dubai is a celebration worth experiencing!
Known as the most cosmopolitan city in the world, its 83% population is of expats according to the World Migration Report.
Although the city is majorly inhabited by South East Asians and Pakistanis, in the recent years, Dubai has seen many Europeans, Americans, Canadians and Britishers settling in Dubai, leveraging on the scale of urban and liberal lifestyle propositions that the heterogeneous city has to offer.
No. 9: A prospering international financial hub!
Just like what Singapore has become for South East Asia, Dubai has become for the Middle East, Western & Central Asia and Africa too. Dubai emerging as a key financial player in these countries is reflected in His Highness Sheikh Mohammed bin Rashid Al Maktoum’s decision to launch The Dubai Financial Centre 2.0 (DIFC 2.0) .
DIFC, a special economic zone was conceived back in 2004 and has more than 2000 companies, 22,000 professionals operating from it besides have a global financial exchange. According to the Global Financial Centre Index 2019, Dubai currently ranks at number 12 worldwide higher than Paris, Geneva, Doha and Vienna, among others.
No. 10: The Trade Hub of Middle East and Africa!
Not only is the location central, and thus prime to global trade, but also makes it a unique entry point into the European markets.
Dubai has been called the ‘New Centre of the World’ and with good reason.
Dubai Airport is a commercial centre on its own, and one of the busiest in the world. In fact Dubai also has one of the biggest commercial ports in the world, the Jebel Ali. Interestingly, its air freight rank in the year 2018 was three, right behind USA and China.
Much of the trade between China, the Middle East and Africa is now being financed through Dubai – just one of the billion reasons why Dubai continues to attract investors from all over the world!