Real estate investment in Dubai
[edit] Introduction
The emirate of Dubai in the United Arab Emirates is one of the largest hubs for business, entertainment and tourism. The metropolitan haven is a magnet for expatriates looking to run businesses whilst enjoying life in an urban setting.
These are some of the reasons for Dubai's popularity as a real estate investment option:
Absence of property tax. Ordinarily, investing in commercial real estate and getting a loan is accompanied by a significant property tax. The United Arab Emirates offers the opportunity of purchasing property free of this property tax, automatically cutting costs on an initial property investment.
Residence visa. A major benefit of purchasing an off plan property in Dubai is the residence visa. Purchasing properties valuing AED 1 million and above enables the investor to qualify for a residence visa. A residence visa will allow the investor unlimited entry into the United Arab Emirates, ensuring ease of secondary real estate investment properties.
Leisure hub. Dubai is one of the most frequently visited tourist destinations in the world. Dubai is also one of the premium shopping hubs in the world.
Weather. The emirate of Dubai offers the combination of the warm backdrop of a middle eastern desert, coupled with all of the amenities and luxuries of a modern-day city. The warm heat of Dubai attracts residents and secondary property investors alike to experience the sandy beaches from the comfort of a luxury holiday home to real estate rental property investing.
Infrastructure. The skyline of Dubai is adorned with magnificent skyscrapers, with the Burj Khalifa at the heart of it. It includes buildings designed by some of the best architects in the world and showcases impressive heights of world-renowned infrastructure.
Ease of conducting business. The emirate of Dubai is ranked as one of the top cities in the world for the ease of conducting business. This ranking is based on key considerations such as the process of business establishment and the convenience of permits. The organisation of free zones within the city encourages trade and boosts the economy of the country.
Tolerance. The city of Dubai is a welcoming and tolerant place. The multicultural nature of the country allows for residents to live in harmony and peace whilst simultaneously sharing cultures through numerous restaurants and festivals. This tolerance, combined with the low crime rates ensures that Dubai is an extremely popular place to reside.
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