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Dubai Real Estate

The Big REAL Bubble




Hi, Sunil here to talk about the Dubai real estate market

I am sure that you have heard of the real estate problems that has affected the rest of the global market, mainly that of the United States.

The ground reality in Dubai is that real estate is booming more now than ever before, causing many to wonder when it is all going to crash down.

The weird thing is that when people see something succeeding, they expect failure.

After all “what goes up must come down” right?

Either that or the world is just full of skeptical cynics. Lol that was a double whammy!

As far as Dubai real estate goes, they can go on expecting it but that’s not going to happen, not in the near future anyway.

If you had not visited Dubai in the last few years and are visiting just now, well, you are in for a shock.

The old Dubai has more or less disappeared, being replaced with all the ultra sleek modern buildings, most of them offering a whole wide range of services, catering to the rich and the fabulous.

It is almost as if Dubai’s Sheikdom is on an overdrive to throw everything into real estate development as well as tourism. I am not sure what the logic behind such a move was, but it is certainly paying huge dividends now. You will find innovation at most of the street corners of Dubai with the old shops as well as the glitzy, glamorous new ones.

You may note that this current trend of rapid development seems to be more or less hinged on converting Dubai to a ‘sky city’ in more ways than one. It has truly become a metropolis especially with the construction of the world’s tallest building as well as the Armani hotel.

Yes, you heard me right, an Armani hotel, here in Dubai, currently in residence at the Burj tower. It is no brain twister that Dubai real estate is becoming a much sought after investment option especially when you consider the developments that are currently taking place even as I am writing this article in 2007.

It is not just the hotels and office buildings that are being built here but residential buildings as well. The latest piece of fresh information on that is that the Property developers Nakheel have signed an agreement with Khansaheb Civil Engineering to develop the infrastructure of the first phase of their Al Furjan residential development.

Now this might be old news to you. You know why? Because developments like these are going up everyday. Huge sky scrappers are being put up almost overnight. It is insane what is really going on.

Dubai is expanding at a phenomenal rate and it is it is only a matter of time before Dubai starts to absorb some of the outer areas into the main city and start development there as well. On top of all this, Kerzner International has announced that plans to open its resort the Atlantis at the Palm Jumeirah, somewhere around September 2008. The resort is supposed to feature something like 1,539 rooms.

Dubai real estate is very popular these days; when you take into account the perfect climate, political stability and the low crime rate, you will understand why anyone and everyone wants to have a piece of the action. Talking about action, have you thought of investing in real estate yourself?

If so, then this may well be the best time for it as the Dubai real estate is primed to give a 30% return on investment. You may think that the last part is just a sales pitch, but the 30% returns on real estate is something that even a country like the United State cannot provide under the current circumstances.

And if you have read around this website enough you must know about my personal views of investing in Dubai real estate. But that is just me. The facts remain facts and “it is what it is” at the end of the day. I am just one person with my own opinion :-) I should have invested in Dubai a long time ago!

If you are interested in Dubai real estate I recommend reading the Dubai Secrets guide. This is by far the most comprehensive and practical guide I have read on real estate in Dubai.

2008 Update

The Atlantis on Palm Jumeirah is almost done. I went on the Palm islands in early 2008 and saw it! I have also heard that Donald Trump has officially engaged Christina Aguillera to perform at the inauguration.

It’s just hard not to Imagine that a big bubble exists in the Dubai real estate market. Time will tell how big it really is and how weak it is becoming. But at the same time there are so many experts and advocates that suggest Dubai is no different from Manhattan and that real estate prices will keep going up infinitely.

They do have a very valid point. Prices are high where land is scarce. Now I can’t remember the last time property values in New York City came down. Can you?


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