Process of Property Buying In Dubai

Due to the intelligent planning by the Dubai management, the property business process in Dubai has been extremely lucrative. With development areas for the top residential tower and largest mall in the world, Dubai is experiencing a thriving real estate market. due to strong fundamental Dubai is enjoying a lively real estate market. In Dubai, real estate prices have risen due to high demand and supply shortages.

The Crown Prince relaxed foreign ownership regulations in the year 2002, thereby allowing for hundred percent foreign control of "freehold" property which could be sold, rented or leased. As a result of this move international investment has poured into Dubai. Other offers like no capital gains tax in the UAE and no stamp duty on Dubai real estate has all induced more real estate properties in Dubai.

The Dubai Strategic Plan for 2015 is a motivated plan that targets high GDP growth rates with an increasingly skilled workforce, through extensive investment in financial, construction and tourist sectors. While other regions in the world are experiencing credit crunches due to mismanagement, Dubai has a credit surplus and is an emerging international financial centre.
The UAE property market has choices available for commercial properties, short-term rental properties and office spaces in Dubai. It also has residential properties including apartments, luxury villas and mixed-use gated communities. These are also waterfront properties, beach resorts and penthouses.

Dubai – Future’ Economic Power in Middle East

It is one thing to create a flourishing economic state. But it is quite another daunting task to keep the flag high in spirits years later. As the current rulers in UAE are basking in the glory of oil rich reserves, the same may not be the case for ever. Like every other natural reserve, even oil will vanish. Then what? Will the economic dream run end? Will the riches become obsolete? Will the expatriates look for more lucrative pastures? There are too many questions to be answered if Dubai has to remain a leader for long in the Middle East. Administrative capabilities, leadership qualities have to be nurtured in the next generation to carry forward the legacy.

Is Dubai equipped to face realties of unbroken dreams? The image cannot be tarnished as long as local youngsters are eager to participate actively in the economy. If one has to take an honest look, there are not many areas of development for locals other than become sponsors for talented foreigners and professionals. Local youth still are shy about becoming active participants in booming sectors. There are not many programs for the youth in the region to nurture and develop. The rulers are not turning a blind eye to this serious problem. In fact they are encouraging the research and Development wings of various sectors to let the younger generation to find their talents. In keeping with the progressive attitude, the Dubai Medical College has already registered a 100 % increase in various faculties.

The younger generation is showing some interest in science and medicine. This is an encouraging indication. The youngsters are also being urged to join other sectors where sustainable developmental projects are the driving force. The education system has improved also which will eventually help to churn out the best brains.

Investment in Freehold Properties

Investment in Freehold Dubai Properties

Dubai is ideally situated at the intersection between the east and west, with picturesque beauty, a contemporary modern infrastructure and lively lifestyle. Dubai draws about 4 million visitors each year. Recently, Dubai has adopted open policy for purchase of freehold property. International property buyers and hundreds of thousands of visitors each year are attracted to the open-minded attitude and relaxed environment exclusive to Dubai. The grant of particular areas in Dubai that allows foreign buyers access to freehold investment reflect the desire for more foreign investment.

For the expatriates living in the UAE and especially Dubai facilitated the need to offer the many expatriate residents the chance to make Dubai a permanent home. With the initiation of freehold property law coming into place in 2002, and succeeding property developments like The Greens and Dubai Marina announced, all signs indicated to a triumphant future freehold market.
With a variety of selection of freehold properties at present available on the Dubai property market, and number of developments facing completion each day, Dubai provide a lucrative choice for investors to invest and get more and more profit with great ease. The liberal and easy to access laws make Dubai a real heaven for international investors.

Commercial Property Sector in Dubai - A Trendy Pick

Dubai's commercial property is seen as a profitable option in the business circuit the world over. It is significant in this regard that a number of office buildings in the Dubai International Financial Center have their initial price experiencing a growth within three months' period! In another example of the rising popularity of commercial property in Dubai, the prices of land in the Business Bay area have seen a increase of about 40 percent.

As far as the rental market in the commercial property sector, Dubai is one of the top 10 countries of the world. With an average office space rent at the rate of 329 AED per square foot, the figure continues to shoot up. Still one can witness the current demand-supply equation in the wider Dubai property market applies to office spaces as well. Demand continues to surpass supply even while commercial property in Dubai is on its way to expansion.

Need for Affordable Housing In Abu Dhabi

With the heavy dependence on low-paid expatriate employees and upward rent pressure, residential developments for laborers are becoming an evermore important facet for real estate developers. Department of Planning and Economy (DPE) cautioned that the city faces a housing challenge as the demand-supply proportion in middle and lower-income remains unequal.

Government officials have the opinion that developers were focused too much on high-end properties, neglecting the provision of more inexpensive housing, and floated the idea of forcing companies to allocate 20% of their housing units to low-income families. Commenting on the situation of low income group housing problem one expert said: 'The housing shortages are well recognized and nowhere is it more acute than at the lower end of the market. The Government has long acknowledged the importance of providing accommodation for workers in Abu Dhabi. In order to tackle this problem real estate developers of Abu Dhabi have started taking measures to regulate the quality of the accommodation and provide a good environment for residents.

The availability of low-cost housing is an integral part of attracting international businesses to relocate to the emirate. The main concern of the developers should be the quality according to international standards and specifications and will be model residential cities with residential areas, recreational areas, restaurants, health clinics, public areas and parks, and mosques, along with all the essential services.

Need for Affordable Housing In Abu Dhabi

With the heavy dependence on low-paid expatriate employees and upward rent pressure, residential developments for laborers are becoming an evermore important facet for real estate developers. Department of Planning and Economy (DPE) cautioned that the city faces a housing challenge as the demand-supply proportion in middle and lower-income remains unequal.

Government officials have the opinion that developers were focused too much on high-end properties, neglecting the provision of more inexpensive housing, and floated the idea of forcing companies to allocate 20% of their housing units to low-income families. Commenting on the situation of low income group housing problem one expert said: 'The housing shortages are well recognized and nowhere is it more acute than at the lower end of the market. The Government has long acknowledged the importance of providing accommodation for workers in Abu Dhabi. In order to tackle this problem real estate developers of Abu Dhabi have started taking measures to regulate the quality of the accommodation and provide a good environment for residents.

The availability of low-cost housing is an integral part of attracting international businesses to relocate to the emirate. The main concern of the developers should be the quality according to international standards and specifications and will be model residential cities with residential areas, recreational areas, restaurants, health clinics, public areas and parks, and mosques, along with all the essential services.

Abu Dhabi, Emerging Dubai

Dubai is always at the front position of the Dubai property scene. Dubai is the first Emirate to present non-UAE nationals the right to buy properties. The policy allows it to attract a brand new source of overseas investment.
Neighboring Emirates also take notice of their own real estate prospective, such as Ajman, Ras Al Khaimah, and Abu Dhabi the capital of the UAE and its most prosperous Emirate. With a flourishing economy and investor welcoming economic policies the Emirate of Abu Dhabi is by far the most capable of the emerging Emirates, posing a very striking prospect for both industry and tourism. The government of Abu Dhabi is taking multiple measures to make the state more and more attractive like increase in government expenditure for development, flexible visa policy and investment in leisure and tourism sector.
The government of Abu Dhabi is renovating Abu Dhabi international air port by spending over $ 6 billion dollars. Like Dubai the government is building new sports stadiums, hotels and shopping centers to provide visitors every facility that they can dream of.
The result of this investment within the financial and tourist infrastructure is expected to produce significant numbers of new job opportunities in the Abu Dhabi. And as the people from across the world pour in it is expected that the emirate of Abu Dhabi like Dubai emerge as a heaven for the investment in real estate

Abu Dhabi, Emerging Dubai

Dubai is always at the front position of the Dubai property scene. Dubai is the first Emirate to present non-UAE nationals the right to buy properties. The policy allows it to attract a brand new source of overseas investment.

Neighboring Emirates also take notice of their own real estate prospective, such as Ajman, Ras Al Khaimah, and Abu Dhabi the capital of the UAE and its most prosperous Emirate. With a flourishing economy and investor welcoming economic policies the Emirate of Abu Dhabi is by far the most capable of the emerging Emirates, posing a very striking prospect for both industry and tourism. The government of Abu Dhabi is taking multiple measures to make the state more and more attractive like increase in government expenditure for development, flexible visa policy and investment in leisure and tourism sector.

The government of Abu Dhabi is renovating Abu Dhabi international air port by spending over $ 6 billion dollars. Like Dubai the government is building new sports stadiums, hotels and shopping centers to provide visitors every facility that they can dream of.
The result of this investment within the financial and tourist infrastructure is expected to produce significant numbers of new job opportunities in the Abu Dhabi. And as the people from across the world pour in it is expected that the emirate of Abu Dhabi like Dubai emerge as a heaven for the investment in real estate

Sharjah – The Next Property Investment Hub

Sharjah is one of the most popular emirates of the UAE. It is known across the globe for its cultural richness. Sharjah houses the famous Al Jazeirah Fun Park and the Al Buheira Corniche which are children’s hot faves.

All these attractions for the city mean that it is a great place for investment in the real estate. Already the property market in UAE is flourishing and the attractions that Sharjah boasts makes it even more rewarding. If you are looking forward to investing in Sharjah property, mortgage is the thing to do. Taking the current trend in real estate investment into account, property values have a 5%annual increase rate. Another great investment option is Sharjah’s rental property. Lots of tourists head to Sarjah on vacation which means that investment in Sharjah’s rental in property can bring you big profits.

If you rent a property in Sharjah, you can hardly make even a minute change in it as per your desire or requirement. But if you own one, you have a free hand and you can make the desired changes. All you need is approval from a planning office. You can make the changes work for your benefit by raising your property’s rent. You will simply be spoilt for choice when it comes to Sharjah property. You’ll find everything from a one or two bedroom apartment to a house. And if your budget allows, you can go for a normal villa or a beach villa. Even investment in commercial property such as office is not out of bounds for you.

If the unlimited property options offered by Sharjah leave you indecisive, you can seek professional consultancy of real estate agencies. They will provide you all the necessary information including the legal procedures involved in Sharjah property investment.

Dubai-style Boom in Abu Dhabi Property Market

Article Source: www.ameinfo.com

As you drive into Abu Dhabi from Dubai these days the tower cranes first hit you at the Al Raha Beach, the 10km stretch of land reclamation and beach front.

Anybody who recalls Emaar Properties' excavation of the 1.8km Dubai Marina at the turn of the century will see an exact parallel with Al Raha today. And if you want to know what comes next at Al Raha, just look at the hundred or more towers now completed or nearing completion at the Dubai Marina.

Does that also mean that within a couple more years the UAE capital will be jammed with construction traffic? Well, there is certainly going to be a lot more of it but the legacy of roads from earlier expansions provides more capacity than in Dubai.

Developer heaven

On the other hand, it is by no means sure that as many developers will emerge in Abu Dhabi as Dubai, where there are now more than 500 firms registered with the Real Estate Regulatory Authority.

So far the big developers created by the government dominate the scene. But then in Dubai so did Nakheel, Emaar and Dubai Holdings in the early days, and they maintain a strong grip on the market.

Apart from the creation of construction noise and traffic the other downside to the Dubai real estate boom has been delays to project completions. Unfortunately it looks almost inevitable that Abu Dhabi will follow this example as well.

The pressures on building material supplies and construction labour are acute. In Dubai, the length of delays vary from three months to two years or more, but this is not so worrying for investors as long as prices are appreciating.

For example, AME Info talked to one property owner on The Palm, Jebel Ali last week who had just sold for a 92 per cent premium after three-and-a-half years, despite the fact that absolutely nothing had actually been built yet.

Project delays

Will Abu Dhabi property buyers also be put in this position? It has to be said it looks highly likely, given the supply constraints on developers, although some will undoubtedly cope better than others with these problems. The difficulty for buyers is trying to decide who that might be.

Surely a commonsense approach is to realise that the more advanced the architecture and ambitious the project, the more likely are completion delays. And from an investment point of view the return on a modest apartment in a block in a nice location might actually prove better.

Certainly that has been the experience in Dubai so far, which rather brings us back to where we started: Abu Dhabi is following the Dubai real estate pattern.

Article Source: www.ameinfo.com

UAE Real Estate Investment

Thanks to the UAE’s hyper active architectural developers, the onetime desert region has now morphed into a world leading real estate investment hotspot. Eyes of the world’s property investors are fixed on this promising land which over time has seen an unprecedented growth in property investments from buyers across the globe.

Property investment in UAE, especially Dubai, is sure to yield heavy returns for the investors. Seeing the current property trend, in which limited supplies fail to fully meet the burgeoning demand, it’s easy to deduce that the time is ripe for the foreigners to invest in the UAE. If you choose to buy a freehold property in Dubai, you’ll enjoy many advantages as a foreign investor. You’ll have the power to sell or rent your property as per your desire. Due to a huge influx of expatriate and temporary residents in Dubai, the demand for short-term rentals is continually shooting higher offering yields around ten percent. The good news for the lenders is that no taxes on income, including that acquired from renting property, are levied in Dubai. Experts predict Dubai’s population to double in the next five years which will also cause the rental demand to climb accordingly. So your property in Dubai can effectively turn out to be a long term income generating asset.

As a property owner, you won’t be required to live in the UAE, but brief six-monthly visits to the country are a must. There are many property management companies which may take care of your property while you are away. Owning a Real estate in UAE entitles you to a three year renewable residence visa, which, however, doesn’t allow you to take up work there. Investment procedure for Dubai real estate is very simple – the only thing you need is a straightforward sales agreement for buying property in Dubai. If you are purchasing on the secondary market, it is highly advisable to hire the services of a lawyer and make sure a formal contract is signed. Ownership process is simple: down payment; installments; final installment with property completion or handover. Once completed, the property is required to be registered with Dubai Lands Department. You pay the registry fee which is 1.5% of the purchase price. As the property owner, you will pay an annual property maintenance fee for the site’s security, cleanliness, plumbing and electrical repairs, etc.

Deciding on an overseas property investment is not easy. You should keep in view all the aspects of your investment before you make up your mind. Some of Dubai’s reputable real estate agents, Halcon Real estate for one, can help ease your decision and provide you with the best and highly professional consultancy.

UAE Property Market Boom

UAE has seen an unparalleled boom in its Dubai real state sector and has been an epicenter for property investment in the entire GCC region. One of the most competitive countries in the world, UAE is widely known as a business haven owing to its business-friendly atmosphere and laws. The key factors to have catapulted UAE’s property market to the current soaring heights are influx of expatriates, thriving tourist industry, and proactive government policies.

Of all the emirates of UAE, Dubai has been the most active player in the real estate sector among others. Dubai has witnessed the fastest upward trend in property prices and rents because of the increasing demand/supply imbalance – huge demand and short supply has resulted in the astounding price hike for the existing and ready-to-move-in properties. Continuous delays in the supply of new property have triggered a sharp increase in all the available residential and commercial properties. However, a look into the development projects which are afoot in Dubai, both residential and commercial property oversupply can be foreseen after a couple of years. The supply deficit signals huge opportunities for the developers to cash in on the prevailing real estate situation.

Despite quite a good deal of supply, office space is still facing shortage in Dubai. The demand for high-end office spaces is multiplying as the businesses go on to mushroom in the city, but the supply isn’t just adequate so as to satiate the demand. The flourishing tourism industry, of UAE in general and of Dubai in particular, has not only caused the boom of local hotel industry, but also resulted in large-scale retail developments. Shopping has become one of Dubai’s most potential lures and the sprawling malls are soon to become overcrowded if the proportion of population surge and development projects remains at the current level.

The struggles to undo the demand/supply mismatch are afoot throughout UAE and newer development projects are being initiated. Moreover, governments are drafting legislations that are more business-friendly in order to boost investors’ confidence in the market. Granting foreigners the right to own property in many of UAE’s emirates has also contributed to building up investors’ confidence in the region.

Property Ownership in UAE

Basking in the warmth of the Persian Gulf, the Middle East houses the United Arab Emirates (UAE) which is made up of seven sovereign states aka emirates, namely: Dubai, Abu Dhabi, Ajman, Fujairah, Ras al- Khaimah, Sharjah and Umm al- Quwain. UAE is home to a unique amalgam of Islamic and western culture that produces a wonderfully modern country offering something to all. With its modern cities teeming with world-class facilities such as super-luxurious hotels, marvelous recreational destinations, and mouth-watering shopping places, UAE has become a major tourist hotspot and a prime relocation destination for world’s peoples.

The year 2002 brought a sweeping revolution in the Dubai Property sector when the foreigners were allowed to buy freehold property in the UAE for the first time ever. The very year marked the onset of the UAE property boom that has only gained momentum with the passage of years and till date shows no signs of slowing down. It was in Dubai that the property freehold decree was first issued by crown prince General Sheikh Mohammed bin Rashid Al Maktoom. The laws that followed further reinforced the ability of foreigners to own a freehold property in Dubai. The other emirates to follow suit were Ras Al Khaimah and then Ajman which allowed freehold property ownership in 2004.

In the remaining emirates of UAE, foreign ownership laws vary. In Sharjah, freehold ownership to expats is not allowed – instead, the emirate allows 99-year leaseholds to the foreigners. The same law exists in Abu Dhabi along with 50-year renewable surface ownership agreements. On the other hand, Umm al- Quwain prohibits the ownership of land but does allow property ownership. Fujairah is preparing a legislation regarding freehold rights which, it is hoped, will grant complete property freehold rights to foreigners.