With time the popularity of Dubai as a hotspot tourist destination has risen, attracting thousands of visitors every year for work as well as for leisure. Earlier, the emirate was greatly involved in the oil sector, however, from the past few years; the entire emphasis is laid onto the tourist industry in the emirate and with this the property sector in Dubai has experienced a boom. Some people in the similar or other industries have compared Dubai with a bubble, which grew up, could not sustain for long and simply busted, but this thought is completely wrong.
The real estate in Dubai is not the only problem which the economy is facing today; however, there are several other factors which are associated with it including regularization laws for the stake holders. Moreover, there are people those who have a different perspective in all this property and economy related matter. The emirate’s economy was compared with some of the great economies in the world; however the economy fell due to several reasons. One of which is the incompetency of the market control due to improper laws and regulations.
The property prices in Dubai are facing challenging times, but still follow an optimistic approach as soon everything will be right. The emirate is one of the largest re-exporting economies of the world; it is an exporting hub to the world to west and east. As far as real estate is concerned, the emirate is one of the largest financial districts in the world. Most of the famous multi national companies have their offices in Dubai in the Internet city.
Moreover, where several other countries are levying heavy taxes on the citizens, Dubai is managing to maintain its tax free status through these years of hardship. With all that growth and positivity, no one can say that Dubai’s economy is shaken.
The real estate in Dubai is not the only problem which the economy is facing today; however, there are several other factors which are associated with it including regularization laws for the stake holders. Moreover, there are people those who have a different perspective in all this property and economy related matter. The emirate’s economy was compared with some of the great economies in the world; however the economy fell due to several reasons. One of which is the incompetency of the market control due to improper laws and regulations.
The property prices in Dubai are facing challenging times, but still follow an optimistic approach as soon everything will be right. The emirate is one of the largest re-exporting economies of the world; it is an exporting hub to the world to west and east. As far as real estate is concerned, the emirate is one of the largest financial districts in the world. Most of the famous multi national companies have their offices in Dubai in the Internet city.
Moreover, where several other countries are levying heavy taxes on the citizens, Dubai is managing to maintain its tax free status through these years of hardship. With all that growth and positivity, no one can say that Dubai’s economy is shaken.
