What Are Mega Real Estate Projects In Dubai?

When you think of Dubai today you will often think of one of the many Mega Dubai real estate Projects such as Burj Dubai, Dubailand or the Palm Islands. Other mega projects under construction are corporate Bay and Metro Dubai. Burj Dubai, worth Dubai Tower, will most likely become the world's tallest building with an estimated height of around 818 m (2,684 ft).  On September 24, 2007 the Dubai Tower became the world's tallest free-standing edifice with it's 555.3 m (1,822 ft) surpassing the CN Tower in Toronto, Canada. The tallest building in the world will become the centre piece of new Downtown Dubai which also includes: BurjDubai Lake hotel, Dubai Mall, BurjDubai Old city, Burj Residences E, Burj Residences T, Burj Residences W, The Lofts, South pucker, Burj Views and boulevard march.

In imposing 2008 the Tower of Dubai is another great example of Dubai real estate that set a new chronicle height of 2,257 feet and has more than 160 stories. With the outside almost elegant employees have ongoing on the interior. Up plow now the finishing height is still a secret. Taiwan's Taipei 101 with a height of 1,667 feet and asset the chronicle while 2004 was surpassed in the June 2008.

Dubai Land:-

Dubai land, the leading theme park in the world, will have 45 mega projects and 200 sub projects when elegant in 2018. Already operational are Dubai Autodrome, The total Village and the Al Sahra Desert choice. This theme park is in amount twice as big as Disneyland and the Disneyworld resorts put together. It consists of 2 outlines, the Red Line and the Green Line. In compute the Metro have a compute of 70 kilometers (43.5 miles) of outline, and 42 stations. The Red Line runs for 50 kilometer (31 miles) with 35 stations from Jebel Ali docks, the American University in Dubai, through the city centre, and to the Airport limitless Zone. The Green Line consists of 20 kilometers (12.4 miles) with 22 stations from Festival City, through the city centre, Dubai International Airport Terminals 1 and 3, and to Rashidiya.

Dubai Waterfront:-

The Dubai Waterfront is a conglomeration of canals and artificial islands forming an arc around the Palm Jebel Ali. The First stage of Dubai Waterfront is Madinat Al Arab the downtown centre of the development with the Al Burj one of the world's tallest skyscrapers. This mega real estate project offers you multiple options of accommodation in Dubai for your memorable vacation in Dubai.

Hydropolis:-

Dubai Underwater hotel, Hydropolis, the first underwater hotel in the world, is one of Dubai's mega projects in the making. The 220 suits are at a gravity of 20 meters and payments a night expenses $5,500. The compute investment for the mission was $500-million.Constructed from a combination of solid, steel and exonerates Plexiglas.

Here are some of the examples of properties in Dubai available for real estate lovers. Just make some little research to find out about which option is suitable for real estate investment in Dubai.

Dubai Real Estate Market experiences strongest demand in three years

The demand for Dubai properties is rising at a much faster rate than supply resulting in prices starting to increase across the luxury part of Dubai’s real estate market.

Various developments across Dubai are experiencing the highest demand in three years resulting in the high end market recovering quickly.

According to the latest Knight Frank Global House Price Index, Dubai’s property prices rose by 2.3 percent in the last three months of 2011, spurring investors to buy property in the country whilst prices are still comparatively low.

Many Dubai real estate developers have reported in the first quarter of 2012 that properties in established areas are approaching full occupancy levels and rents have now started to increase.

One real estate expert has revealed in a recent report that Dubai’s residential property market has started positively in 2012 and is now “more secure and transparent” with residential sales continuing to rise.

Dubai’s recent upturn has certainly attracted more investors to the country building positive momentum. 

According to the Dubai Supreme Fiscal Committee, Dubai’s economy is showing positive signs of growth after the prediction that it will grow by 4.5 percent in 2012.

The news has fuelled investor confidence and many property investors are shifting their attention to buying in areas such as the popular Dubai Marina before prices rocket.

A Big U-Turn In Dubai Real Estate Market

The growth of the Real Estate market in Dubai is protected from whatever fluctuations taking place in oil prices based on short and medium term. In fact, it is estimated that higher prices will only spur on the growth to higher speeds. The value of some of the Real Estate projects in GCC, Iran, and Iraq has already crossed $750 billion. Nearly 33% of this is concentrated in the United Arab Emirates with Dubai contributing the maximum. This figure is higher than the combined GDP in the same region, which is lower than $700 billion. According to expert estimates this trend will continue despite the fact that the oil prices are expected to fall in the short and medium term.

One key thing to note is that so far the growth of Dubai has been consistently defying all analysts. Since the past 5 years all sorts of experts have been saying that it is about time the Dubai Real Estate market in Dubai stopped being so profitable but so far the bubble has not burst. Though such growth has never been sustainable before no one is able to explain why it continues to thrive in Dubai. The GCC has the 17th largest economy in the world comprising of 500,000 high income earners and a GDP of $525 billion. The total ½ trillion dollar economy creates more than $500 billion in revenue that is used for investment. This volume is believed to boost the property for sale Dubai and construction sector in Dubai.

With a growth rate of 25% per year the UAE GDP is expected to reach anywhere from Dh 500-900 billion by the year 2010. The UAE has already surpassed Egypt as the 2nd largest economy in the Arab countries. It is now second to Saudi Arabia which is going through its own explosive growth period. The projects in UAE total at around $225 billion with Dubai holding nearly $125 billion.

The population of Dubai is also expected to go from the current 1.1 million to 4 million by the year 2017 and by 2020 it may exceed 5 million. This growth is expected to put a great strain on the infrastructure. The government has already spent $2.5 working on the road network covering 9,600 kilometers.
Dubai has always been the most popular place in the UAE because of its visitor friendly policies. There are many investment opportunities available to people in Dubai. In the past 2 years other emirates have also noticed the profitability from Dubai accommodation development and they are also beginning to contribute to the growth of the region.

Top 10 Reason of Why Properties in Dubai will continue to Boom

According to the US real estate and Hong Kong property analyzer, Dubai may be a next hot spot for real estate lovers. Here are some quality reasons of why Dubai will continue to boom in next coming years.

1. Dubai mortgage rates are around 8.5 per cent and have yet to adjust to the recent US rate cuts, which they have to do because of the dollar peg to the dirham. Just a couple of years ago local mortgage rates of seven per cent were available. Therefore the downward pressure on the cost of home finance is clear, and if the local mortgage market follows Hong Kong and becomes more competitive, then interest rates could go much lower, making it significantly cheaper to buy than rent. The rates of properties in Dubai are already negative due to high local inflation.

2. Rental yields in the Dubai market of 7-10 per cent are abnormally high by international standards. Rents are unlikely to fall in a booming market, so it is more likely that rising capital values will gradually pressure yields down towards global levels. There is no reason why rental yields should be higher in a booming city like Dubai than in a city where the economic outlook is poorer.

3. The hype about development projects has admittedly duped even this skeptical correspondent over the years. The fact is that far less supply is coming on stream than promised by overenthusiastic developers, due partly to limited supplies of manpower and materials.

4. The prices of accommodation in Dubai are still low in absolute terms in comparison to other global cities with similar salary levels. The HSBC survey of house prices in comparison to per capita GDP put Dubai and Abu Dhabi near the bottom. This is a historic anomaly that will be eliminated by price rises.

5. Six years ago, when Dubai freehold began, it was a market without any formal legislation and regulatory infrastructure. Now it has world-class laws, a state-of-the-art land registry and a strongly-led regulatory authority. Hope has been replaced by experience.

6. The Dubai Financial Market crashed in 2006 pushing local investors into property as an alternative. It recovered in late 2007, but is now again trending downwards with global stocks, and has become highly volatile, shifting over 10 per cent in a day. Expect stock market participants to again seek a more stable alternative.

7. Indeed, the absence of investment alternatives is a major theme for 2008. Global stock markets have had their worst January in history. Recent US interest rate cuts leave deposits paying 2.8 per cent. This makes Dubai real estate look attractive as an alternative. Where else offers such a return?

8. In the same way that the local stock market crash attracted foreign bargain hunters to invest last year, foreign investors in search of yield are also increasingly investing in Dubai real estate. Problems in the UK housing market might be dissuading some buyers, but large numbers of oil-rich Russians, for example, are now buying in Dubai.

9. Dubai still has some undeveloped market niches in Dubai real estate, such as holiday lets and fractional ownership, which are big and even dominant market phenomena in many beach resorts around the world. This source of higher rental yield on property has therefore yet to be fully tapped.

10. The Dubai Government has been the most proactive developer in the emirate, and its recent legislation and regulatory initiatives suggest that this support is not only likely to continue, but will respond appropriately to any adverse market developments.

Dubai Real Estate 2012: A Golden Opportunity to Buy Your Property in Dubai

You might have read the reports about Dubai real estate highlighting kick-start to recovery in 2012, but I would say, this is merely a predication based on “the feel good factor” of the property stakeholders. I believe property prices in Dubai have not shown any remarkable recovery in 2011, which reports show. These are just the sellers and owners of the properties who want to derive the prices up through rumours. The fact is property prices in Dubai are still not touching the bottom level but yes, we can say they are near to touch the bottom.

It is expected that the mid-2012 would be the time for Dubai real estate when prices of the properties will touch the bottom level in real. However, despite that recovery cannot be expected even after mid-2012 due to the heavy supply of the residential units expected to add to the market in the year. Some experts are even not predicating much demand as they think people are still hesitant to invest in Dubai properties. In contrast to what the reports highlight, the year 2011 remained another challenging year for Dubai real estate.

On the other hand, the prices of properties in Abu Dhabi are expected to fall by another 15% in the following year. On the other hand, rents in Abu Dhabi are also predicted to fall by another 10% during the year after which the recovery can be expected. Abu Dhabi property prices will continue to decline because the crises hit Abu Dhabi real estate late as compared to Dubai real estate and so this sector will also spring back to life late.

Average prices of the residential units in Dubai like Apartment in Dubai, villas or many other accommodations fell by 12% in Dubai where as in Abu Dhabi the average prices of residential properties dipped by 17% in the previous year. Prices of villas and their rents opposed to apartments showed slight increase in prices. Though overall in 2011, Dubai real estate prices declined but this is evident that the rate of decline slowed down as compared to the rate of decline we noticed in 2009 and 2010. Still if we look at the trend of prices in 2011, we cannot predict quick price recovery in 2012.

Also the prices of rent in Dubai are expected to continue their declining trend in 2012, unless they touch the bottom level. Once they will touch the bottom level in mid 2012, it is not necessary that they will start recovering. They can also remain stagnant unless demand originates and problem of oversupply resolves to push the prices up.

What mostly Investor Concern About investing In Dubai Real Estate?

In terms of real estate business, Dubai in itself is a hot selling brand. With Government taking keen interest in execution and completion of so many amazing projects, and the last decade showing a constant growth, Dubai economic future looks bright. Investing in Dubai real estate is becoming every investor's dream, although some raise questions on issues like high demand vs. low supply and infrastructure problems. Let's have a look at what's positive and what's not with investing in Dubai real estate.

High Demand:

One thing is for sure, Dubai properties are in demand. Investors from all over the world are flocking to Dubai, to get a share in huge profits. Since non-residents of Dubai have been allowed to buy the property in Dubai, Dubai is flooded with interested investors. Everybody seems excited and exuberant about ongoing development plans. It will take some time before these jaw dropping constructions can be matched at some other place of the world.

Lower Prices - Higher Value:

Rapid increase in property prices has created the impression that real estate prices are high in Dubai, which is completely wrong. Comparison will reveal the true picture. Apartment in Dubai is still undervalued if we take into amount these factors. Dubai is going through an economic boost and with properties prices hiking quickly; the perfect time to invest is now.

Tax Free Zones:

Dubai government has offered so many incentives to attract investment, tax free zones are one of them. Free zones like Jebel Ali free zone, Dubai international financial centre, Airport free zone and Maritime city, presents great opportunity for investors. Dubai offers unsurpassed tax incentives in the world for businesses. More and more companies from all over the world are setting up their business in these free zones.

Tourism:

Approximately 6.5 million tourists will be visiting Dubai annually by 2011. World's biggest arts & entertainment events are held here, making it even more attractive.

Political Situation:

Dubai enjoys political stability and steadiness which is rare in most parts of the world. Since its establishment, Dubai has never been under political chaos, riots or disturbance. Policies are not shuffled and you can invest with the sense of certainty which you will hardly find anywhere else.

Crime:

It's hard to believe but crime rate is almost zero in this part of the world. With no reports of robbery or theft going around, Dubai is a safe place to live. In today's world, this kind of peaceful place appeals everyone desperate to live a life, free from anxiety.

Here are some factors which are mostly determined by many real estate investors in Dubai. Whether you want to buy a real estate property in Dubai or want to apartment for rent in Dubai, this is a place for a profitable real estate investment.