Here are a few reasons for investors to consider committing to the Dubai real estate sector:
Expo 2020 is coming to Dubai
Dubai is hosting the next World Expo in October 2020. The Expo will attract approximately 25 million visitors from 180 nations. The announcement of the Expo in Dubai has boosted the off-plan property sector. Investors who are buying properties in Dubai before the Expo will receive a high return on investment. The Expo’s duration is six months and millions of visitors will need to rent property. The rental demand will be high, enabling landlords the flexibility to increase rents.
Dubai seeks to become happiest city in the world
In 2016 The Ministry of Happiness was created in Dubai with primary aim to develop programmes and policies to improve the happiness levels of Dubai’s residents, which was well received by the public.
High ROI for Dubai investors
Dubai’s real estate market is maturing as the city’s population is increasing each year with the numbers from Dubai Statistics Department marking 2,885,818 on the population clock. Investors aware of the growing demographic are wisely purchasing property to supply the boost in rent demand.
Tourism in Dubai booming
Some of the main parts of Dubai’s economy incorporates tourism, trade, business services and real estate. The construction of new hotels and real estate projects is a direct result of Dubai’s growing tourism industry. By October 2017 Dubai recorded 11.58 mil visitors, while by the same period in 2016 it was recorded 10,77 mil. The number of visitors is expected to increase by 2020 to 25 mil yearly.
Source: VisitDubai.com (as of October 2017)
Source Business Intelligence & Reporting – Department of Tourism and Commerce Marketing – Dubai
The Museum of the Future
The Museum of the Future allows visitors to experience the future through cutting-edge simulations and interactive exhibits. The museum will include scientific conferences and offer advanced courses on new scientific achievements and trends. The museum will focus on solutions to the top three challenges emerging from climate change: water supply, food security and self-sufficient cities.
Low crime rate
The sense of safety is a major advantage of buying property in Dubai as it is considered one of the safest havens for both investors and end-users. The crime rates are lowest in the world.
0% income and corporate tax
Dubai’s policy of no income or corporate taxes attracts many investors and residents from most of the countries around the globe where taxes are very high. The UAE is home to over 200 nationalities, and Emiratis constitute roughly 10% of the total population, making UAE home to one of the world’s highest percentage of immigrants.
Superior transportation routes
Dubai is continuously advancing its transportation infrastructure. The US-based Hyperloop One is creating an expedited transportation route between Dubai and Abu Dhabi. Hyperloop One prepares to launch the world’s first operational Hyperloop system, allowing passengers to travel between the emirates in pods at 1,200 km per hour. The project’s goal is to provide transportation from Dubai to Abu Dhabi in 12 minutes. Hyperloop One estimates that approximately 4,000 vehicles commute daily from Abu Dhabi to Dubai. Dubai Metro has also expanded their routes making it an easy journey for Dubai visitors and residents.
Dubai’s population is growing
Property project launches in Dubai are estimated to increase as its population grows each year which is guaranteeing high ROI for investors. The Dubai Statistics Centre announced that Dubai’s population in January 2016 was 2.4 million and will reach 5.2 million by 2030.
Gourmet restaurants, entertainment
Dubai offers unique experiences with desert safaris, luxurious spas, beaches, yacht communities, skydiving, water parks and one of a kind entertainment and nightlife. The city is also known for its wide selection of gourmet restaurants and worlds renowned brands all have presence in the metropolis Dubai; ensuring that there is plenty to do for both the children, families, visitors and singles.