Dubai Information

Dubai Information

Dubai is a city-state on the Arabian Peninsula that has seen much change in the last generation. After the discovery of oil there, the citizens went from a culture of the 7th Century to that of the 21st Century almost overnight. Dubai is still seeing a huge amount of flux as it tries to diversity its economy. The leaders of the country understand that Dubai cannot maintain its wealth by relying solely on oil income. Therefore, it has welcomed skilled foreign workers and a variety of companies to its shores. The amount of new structures being built in Dubai is mind-numbing. The city is fairly small, built along a natural port, which has made it a good shipping location for centuries. Although the city has been built up a lot just in the last decade, new structures are still being constructed at a high rate. Dubai property values are some of the highest in the world right now and it doesn’t look like that will change anytime soon. Real estate in Dubai consists of various forms.

There are a plethora of high-class hotels vying for the western business and leisure travellers coming to experience the variety of Dubai. Some of the hotels and condos are built on privately-owned man made islands. Some of the other construction consists of large office projects for the businesses looking to have locations in this city-state. The area has also successfully made itself attractive to the IT and finance industries. There are also huge amounts of foreign workers coming to Dubai for varying amounts of time, which keeps housing in high demand. Some other large construction projects have been centred on the shipping industry, which is still central to the economy in Dubai. The Jebel Ali port is the largest man-made harbour in the whole world. The airport and surrounding area are also centres of new real estate construction. Dubai is also a world-class shopping destination.

Many of the top world fashion designers such as Dolce and Gabanna have locations in Dubai. Dubai is a top shopping destination for customers from the Middle East and far beyond. Dubai currency consists of the United Arab Emirates Dirham, which has been fairly stable with the dollar at about a 3.6 to 1 exchange rate. This means that shoppers who are using western currencies such as the UK pound, Euro, or the Dollar can get more for their money when investing in Dubai real estate. The internet is generally a pretty good source of Dubai information. An investor would be wise to see what types of property are currently in highest demand in Dubai. Your choices are generally between homes, hotels and resorts, retail, and buildings designed for business use. Depending on the amount you have to invest and your personal preferences, Dubai can be a great place to either begin or continue investing in real estate.