Dubai Real Estate and Property

Property Boom in Dubai

• Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world.

• The government's decision to diversify from a trade-based but oil-reliant economy to one that is service- and tourism-oriented resulted in the property boom from 2004–2008

Property Boom in Dubai

• The property boom is largely driven by megaprojects such as the off-shore Palm Islands and The World, and the inland Dubai Marina, Burj Khalifa complex, Dubai Waterfront,BusinessBay, Dubailand and Jumeirah Village.

Dubai Skyscrapers

• Dubai is home to skyscrapers such as Emirates Towers and the Burj-al-Arab hotel, located on its own island in the Persian Gulf and currently the world's tallest and most expensive hotel.

• The world's tallest structure, the Burj Khalifa is at a height of the 828 m (2,717 ft) tall, with 160 floors. Adjacent to Burj Khalifa is the Dubai Mall, which at the time of construction was the world's largest shopping mall.

New Projects

• Also under construction is what is planned to become Dubai's new central business district, named Business Bay. The project, when completed, will feature 500 skyscrapers built around an artificial extension of the existing Dubai Creek.

Dubai Real Estate

• Dubai has also launched Dubiotech. This is a new business park to be targeted at biotechnology companies working in pharmaceuticals, medical fields, genetic research and biodefense.

• The International Media Production Zone is a project targeted at creating a hub for printers, publishers, media production companies, and related industry segments.

Expatriates

• The first villa freehold properties that were occupied by non-UAE nationals were The Meadows, The Springs, and The Lakes.

• Expatriates of various nationalities brought capital into Dubai in the early 2000s. Iranian expatriates were estimated to have invested up to $200 billion in Dubai. From 2005 to 2009, trade between Dubai and Iran tripled to $12 billion.

Dubai Real Estate

• Visit http://goo.gl/WJm1uG to know more about the real estate sector in Dubai