123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

Real Estate Boom In Dubai

Profile Picture
By Author: William King
Total Articles: 365
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

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 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 Real Estate 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 Real Estate development and they are also beginning to contribute to the growth of the region.

Because of the heavy investment in the tourism, infrastructure has further encouraged the growth of the Real Estate market. The increase in the Abu Dhabi population has increased the cost of rentals there. In fact, Abu Dhabi has all the potential requirements for avoiding the issues that are threatening to hinder the growth of Real Estate market in Dubai. These issues include shortage of man power and large scale construction projects that take too long to complete.

William King is the director of Dubai Property & UAE Property & Dubai Real Estate Portal, Pakistan Property & Pakistan Real Estate Properties Portal and Wholesale Suppliers Traders Distributors & Manufacturers Directory. He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.

Total Views: 336Word Count: 567See All articles From Author

Add Comment

Real Estate and Foreclosure Articles

1. Lavender – Elegant Homes For Modern Families
Author: Dishant

2. Discover Your Dream Property: Edmonton Homes For Sale
Author: Haupt Realty

3. Ace Divino: A Premier Destination For Relaxation
Author: Invest Mango

4. Aipl Joy District: A Premier Commercial Hub In Sector 88, Gurgaon
Author: AIPL Joy District

5. M3m Capital’s Fitness And Wellness Amenities: A Healthier Lifestyle
Author: Khushi Singh

6. Flats For Rent In Phase -9 Mohali
Author: Ravinder Kumar

7. Flat For Rent In Pancham Society
Author: Ravinder Kumar

8. Write For Us-nirwana Estate
Author: Ravinder Kumar

9. Flat For Rent In Gobind Apartment
Author: Ravinder Kumar

10. Real Estate Agent Akash Singh
Author: Ravinder Kumar

11. Real Estate Prices Fall In Mohali
Author: Ravinder Kumar

12. Property Maintenance And Repair Management In Bahrain's Rental Market
Author: Hannan

13. Total Environment Jakkur
Author: Total Environment

14. Redefining Spaces: The Role Of Architects In Dehradun With Heritage Architects
Author: Heritage Architects

15. Dholera Solar Park: Shaping The Future Of Clean Energy In India
Author: Tatvam Dholera SIR

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: