Palm Jumeirah

Palm Jumeirah

many regional business people from countries like Iran and Saudi Arabia like to own a base in Dubai - not just as a safe investment - but an option for them and their families to enjoy the more relaxed cosmopolitan atmosphere of Dubai and its world class education facilities: 

Most importantly Sheik Mo has the given the local work force – most of whom are employed on 3 year renewable work permits - the right to buy their own freehold homes in designated zones which includes almost all New Dubai projects – which will mean that most business and professional workers will be able to return to their countries at the conclusion of their employment with a sizable chunk of capital in lieu of the rent receipts of the past.

Dubai’s property market has been hard hit by the international credit crisis – as have all first world economies - but that is a sign of the maturity of this market – which is now fully integrated into the western market system and just as it enjoys its booms it will also experience its busts.

Dubai’s property market is also closely allied to the fortunes of the UK property market because of the high percentage of investment that derives from the UK investors who have invested both in tourist short lets and local long term accommodation in large numbers.