Dubai a spectacular place to invest

Dubai a spectacular place to invest
Dubai is a spectacular place to visit and to enjoy the
warmth of its people. What is even more impressive is the
developments that are taking place their. These include the
world's biggest theme parks, the world's tallest buildings,
and the world's largest shopping malls the list goes on and
on. Most of the housing available to international
investors is available off plan or pre construction. People
have been making huge profits already as prices soar owing
to construction cost increases, demand and because many
developers sold too cheaply.

International investors buying property in Dubai include
Russian, British Indian and Pakistani investors. A
percentage of United Arab Emirates buyers along with other
Middle Eastern investors got in on the action early. One
notable section of international real estate buyers is the
United States.

Seasoned investors have speculated about the bubble
bursting in the Dubai real estate market. Oversupply has
led to concerns by overseas property investors. In 2010 the
number of homes in the region is set to double to 530,000.
The commercial sector is also expanding at a rapid rate
with office space set to triple, so who is going to buy all
this real estate? Dubai Property Executives explain how
Dubai is as good market with a better future and allay
fears of the apparent oversupply in Dubai property.

Nakheel developer Chief Executive Chris O'Donnell ?People
do get a little concerned about Dubai, thinking we are just
building and hoping we will sell the product on completion.
But we sell product prior to starting construction.
Everything you see at Palm Jumeriah has been sold" The
Australian born CEO goes on to explain that his company
will not commence a project until it has reached a
threshold percentage that gives them a cash flow to enable
them to build.

Property Developers Dubai Properties Chief Executive
Mohammed Binbrek "We do not begin until the units are sold
and then we ask for a 70% deposit." When asks if he thought
the Dubai market would crash with so much construction he
replied " Around 40% of the population is under 20 add this
factor to a population that is growing it implies much more
houses.

Jones Lang LaSalle executive Mark Thomas specialises in the
residential market his response to worries concerning over
supply was "We are asked that every day the answer is that
demand from overseas is still coming. What has happened is
price appreciation has slowed from 30 to 40 per cent to 10%
per year. Land sale prices are holding up and are active"

The current rental yields on Dubai real estate are high by
global standards at 7-10 per cent which reflect the fact
that this is a new and immature market. In the long run a
return to rental yields more in line with comparable
international markets should be expected.

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Nicholas Marr is a lifetime property investor and CEO of
Marr International Ltd a UK based property marketing
company that is responsible for one of the worlds leading
overseas property web sites at
http://www.homesgofast.com/home/United_Arab_Emirates/
and http://www.dubaihomes4sale.co.uk/