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Construction boom in Dubai |
The region`s public sector has budget allocations worth millions of dollars for infrastructure maintenance, including airports, hospitals, schools, streets and parks - for example, with desalination providing 80% of the annual requirement, the UAE alone will spend in excess of US$7 billion over the next 25 years to develop its water resources, with a series of new plants planned or in development throughout the Emirates.
Private sector development is even more ambitious, with the focus throughout the region firmly on hotels, leisure and commercial developments, shopping malls, apartment blocks, residential developments and office towers, as the growth and significance of the tourism trade continues at a rapid pace.
Against this backdrop, and with significant new developments announced throughout the region on a regular basis, architects, designers and contractors are already looking forward to seeing the very best and latest that the world has to offer at 2005`s Big 5, which takes place from 16th to 20th of November at Dubai International Exhibition Centre.
Showcasing building and construction, water technology and environment, air conditioning and refrigeration, cleaning and maintenance, glass and metal, bathrooms ceramics and kitchens, marble and machinery, the Big 5 has the deserved reputation of being the event where the major business deals are concluded, generating business from the UAE, GCC and beyond.
Internationally acknowledged as the most important meeting place for the regional industry`s decision-makers, who have access to millions of dollars for the purchase of the latest technology, products and services, there has been stronger than ever demand for space at this year`s show, which is already completely sold out with six months still to go before the show opens.
"The Big 5 is, without doubt, the largest trade show for the construction industry in the Arabian Gulf - over the years it has grown into a truly unique event, combining seven major exhibitions under one roof, and bringing the best global industry practices to the region" said Bernard Walsh, Managing Director of dmg world media Dubai.
"In 2004, we hosted 2,000 companies from 50 countries and attracted 34,000 key buyers and decision-makers from the public and private sector in addition to architects, engineers, contractors and other specifiers - with the seemingly endless expansion of the construction sector, it continues to grow in significance and is a real catalyst in the development of the industry" he added.
One of the most commercially successful trade events staged in Dubai, the Big 5 features national pavilions from all of the world`s major exporting countries along with the most important local manufacturers, importers and distributors.
"The recently announced plans to develop a brand new exhibition venue for Dubai, with greatly increased capacity, means that the Big 5 will, in the not too distant future, have the opportunity to expand proportionately to the growth of the regional construction industry," added Walsh, "it has also been announced that in the interim period, Dubai International Exhibition Centre will have an additional two halls available from 2006, allowing us to welcome more of the world`s leading construction industry companies to Dubai".
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In recent years, the spotlight of the world has fallen upon Dubai. Positioned as a global hub, at a strategic point where east meets west, it has rapidly developed from the small trading enclave of 50 years ago to the major international centre of industry, commerce and tourism that it is today.
Dubai is a lucrative choice of destination for investment for a number of reasons. Its world-class infrastructure coupled with a safe living and a facilitated business environment make it an ideal place to live and work. In addition, Dubai`s population is set to double in the next decade making the demand for Dubai real estate even more viable.
The Sheikhs` foresighted policy of reinvesting UAE oil revenues in the future of Dubai has ensured a wealthy and diverse economy. Many of the projects under development, which include highly innovative tourist attractions, will pull more and more visitors to Dubai in the years to come, while the mostly temperate weather and all year round sunshine make it an attractive short and long haul holiday destination.
There`s something for everyone in Dubai. Not only does it have the superb beaches and water sport facilities that most sun, sea and sand seekers would expect, the state lays on every activity imaginable for visitors and residents alike. Ranging from shopping festivals, world-class sporting facilities and entertainment events, to sumptuous hotels, restaurants, clubs and bars, there is never a dull moment in this land where leisure is all part of the lifestyle.
Added to this, Dubai is a tolerant, stable and safe society, with high standards of living, low incidences of crime and a welcoming attitude to incomers, who are rarely disappointed by all that this enterprising Emirate has to offer.
Dubai is destined for further prosperity and by investing in property here you gain a share in a brilliant future.
Opportunities for buying properties in Dubai.
With the spotlight of the world on the fastest growing destination on earth, now is the time to consider buying property in Dubai. The scale of development, the depth of imagination and the degree of innovation that characterise the property market here means that the ideal home is available to all. From luxury one-bedroom beachfront apartments, through to smart urban townhouses and lavish water villas, a residence exists to suit every pocket and lifestyle.
Browse through the numerous projects featured on this site and you will see that most have been developed as complete communities, with luxury leisure facilities and a range of amenities including retail and dining options. Whether looking for a holiday home or a permanent residence, potential buyers will be impressed both by the range and quality of properties available.
Freehold Property Law (in Dubai).
The owner of a freehold title of real estate enjoys the most superior form of private property ownership. A freeholder is considered to be the absolute owner of the land and buildings comprised in his title; he has the right to occupy, use and enjoy his property forever ("in perpetuity") or until he transfers the title to a new owner, and his heirs are entitled to inherit his title upon his death.
Dubai is a progressive, modern, open economy that is marked by a liberal, visionary leader in the crown prince, Sheikh Mohammed Bin Rashid Al Maktoum. The Freehold Property law which will be comprehensive legislation has already been drafted and is in the process of being promulgated by the legislator any time soon. A number of developments are already available with many more to follow.
Imagine: having the best and most remarkable landmarks in the world, under water and in the skies all in one Dubai:
- The tallest tower in the world; Burj Dubai.
- The largest man-made islands known as The Palm Jumeirah and The Palm Jebel Ali, The Palm Diera, making them the most sought after leisure destinations in Dubai.
- The biggest mall in the world; Dubai Mall.
- A real estate market that pumps more than a billion Dirhams on a monthly basis.
- The first "Bubble city" in the world; a suspended architectural marvel stationed 200 meters above the ground.
- The first underwater luxury hotel resort; "Hydropolis" providing an unforgettable ambience and a new era of hotels.
- Dubailand, soon become the biggest, most varied, leisure, entertainment and tourism attraction on the planet. Dubailand is an innovative, awe-inspiring development, divided into six themed worlds and comprising over 200 individual projects, Dubailand will feature state of the art sporting facilities, theme parks, eco-tourism resorts, museums, galleries, spas and stunning shopping and recreation venues.
Real Estate: the opportunity:
Factors driving Real Estate Demand in Dubai
- Liberalisation of real estate sector - expatriates can now own property.
- Mortgages & home finance at APRs of 6% have made property purchases affordable.
- Purchasers of freehold are granted a permanent resident visa.
- Great value - land and building values are fundamentally cheap when compared to international prices.
- Conducive lifestyle - a safe & virtually crime-free environment, a cosmopolitan and international lifestyle, a tax haven, and a tertiary home for international property buyers.
- Robust economic growth: Dubai`s GDP grew 12% from 2003 to 2004.
- Robust population growth - 8% p.a.
- High mid-income population bracket with disposable income.
- Dubai is the Middle East entrepot and hub for all trade, finance, land-sea-air logistics, property, leisure, entertainment, retail, IT, media, education, and medical activities.
- An open, welcoming & tolerant state with investor friendly business policies.
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