We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

The History of Real Estate in Dubai - Research Paper Example

Comments (0)
Real Estate Market The History of Real Estate in Dubai Dubai has experienced some tremendous growth in the last few decades not only in the financial sector but also in real estate. Dubai has become a world hub with the increased attention that it has received through some billion dollar real estate projects such as “The palm Island” and “Burj Dubai”…
Download full paper
The History of Real Estate in Dubai
Read TextPreview

Extract of sample
The History of Real Estate in Dubai

Download file to see previous pages... There are close to 2, 50,000 employees who are mostly south Asian working in real estate projects across Dubai. (Dubai History. n.d) In 1990, under Sheikh Mohammed governance, some very interesting real estate projects were designed and executed like the seven star Burj Al Arab Hotel which became the tallest free standing building in the world. The emirates towers became the tallest commercial building in Asia, Europe and Middle East. During the same time, other notable buildings, world class ideas, mega projects were designed and executed to make a mark in the international arena. Sheikh Mohammed wanted Dubai to be the hub and the location for international investment. The rentals and the return on investment far exceeded the expectation with greater benefits. Sheikh Mohammed also helped in promoting the development of real estate through Emaar properties which is the largest real estate company in Dubai. (Cooper, 2004) One of the turning points in the history of Dubai real estate was on May 2002 when the government had declared freehold property on land. It was also during this period that the government had also familiarized foreigners to buy freehold property. Prior to this, only UAE nationals were allowed to buy and own property in Dubai which was only on a 99 year lease and this was not very popular with the public. It was only after the adoption of the freehold property and foreign investment that the real estate in Dubai had a boom in the residential property. Dubai then became a city which was built on good ethical practice, foreign investment and good projects. (Cooper, 2004) Foreign Investment in Dubai Real Estate Sector Until 2002, the UAE law had strict rules and policies and did not allow expatriates from owning any property. They were allowed only to rent property or own the property on a lease period approved by the federal law. It was only during this year that the Dubai government had permitted the expats to buy and sell property and this revolutionized the real estate sector. This decision was taken after understanding that the petrol and the oil reserves which form the main economy booster might perish in 10 years. One of the main strategies of the government was to improve the service sector and the local real estate market in Dubai. (Foreign Investment in Dubai, n.d) The demand for both commercial and residential property market increased rapidly because of the change in government policy. The expatriates from non GCC countries were also allowed to hold properties in the country and this was regarded as a great leap in Dubai as this was not imposed in any other emirate country. There was a sudden increase in foreign investment especially from UK and Europe in the Dubai real estate market. (9) In the recent years the city has been a constant attraction for expat investors. The real estate market in Dubai is largely driven by foreign investment especially the non- Arab companies and individuals, their freehold investments total around 60-70% of the entire real estate market. Statistics state that every 3rd property is held by expatiates or foreign companies who live outside Dubai. The portfolios of the investors range from Pakistan, India and other emerging markets such as S. Korea and Brazil. (Foreign Investments Spurs Dubai Real Estate Growth, n.d) Iran is one of the leading and the major partners for Dubai and forms at least 30% of the total business done in Dubai. The ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
Real estate industry
Nevertheless, real estate, in technical terms, denotes the land and all its natural parts for example water and trees, as well as all permanently affixed improvements such as buildings, fences, among others. The term real property and real estate are primarily used in common law.
20 Pages(5000 words)Research Paper
Insurance Research Paper about the Real Estate Development Industry
According to the paper economic policy of the city has undergone tremendous strategic and structural revamp in last two decades. The city has been witnessing a GDP growth rate of eleven percent for the last two years while economic policy makers have targeted to achieve GDP of US$108 billion within next three years. Colliers International has underlined that real estate industry of the city will show growth rate of more than fifty percent over next few years.
9 Pages(2250 words)Research Paper
Real Estate
Introduction This paper presents a discussion on the differentiation factors between industrial real estate on the one hand and non-industrial real estate on the other, with an intense and thorough look at the case of the Kuwaiti real estate sector. The Kuwaiti real estate sector is seen as exhibiting a trend towards sustained growth from the low that it experienced together with other countries in the Gulf Cooperation Council or GCC in 2008, at the height of the global financial crisis that reached the GCC during that time.
10 Pages(2500 words)Research Paper
Role of Banks in Real Estate Financing in Saudi Arabia
Role of Banks in Real Estate Financing in Saudi Arabia. Real estate is one of the fastest growing sectors in the Kingdom of Saudi Arabia today. Many companies and individuals are constantly looking for opportunities to build their own homes or buildings to lease to others.
11 Pages(2750 words)Research Paper
Tourism in dubai
Regarding the tourism sector of Dubai, the industry has gained substantial interests of the global clients over the last few decades due to its alluring development in the tourism and hospitality services. Currently, the tourism sector of Dubai has been considered as one of the most appealing and unique destinations and tourist paradise that tends to offer wide range of attractive services and events for the clients across the different geographical locations.
9 Pages(2250 words)Research Paper
OHIO & DUBAI (Comparative Essay) in Business
Ohio has been an important player in nearly every growth industry in America. From its farms to the big industrial factory in the more recent years, it had a progressive growth and vibrant economy. Ohio is
7 Pages(1750 words)Research Paper
Arizona Real Estate Market

This paper discusses Arizona’s real estate market crash. Arizona’s real estate market was thriving and bringing revenue when it crashed. The crash was caused by several factors, which had not been foreseen. The economy of Arizona largely depended on the real estate market.

6 Pages(1500 words)Research Paper
Arizona Real Estate Market
Economists argue that the 2007 housing market crash is the worst ever-housing crash experienced in the history of the United States. In fact, economists argue that the real estate crash of 2007 was partly to
6 Pages(1500 words)Research Paper
Real estate
Transferring property from one person to the other involves transferring the documents of ownership to the new owner (Abts, 2002). There are several rights of ownership that are recognized by law as far as real estate is concerned. The
2 Pages(500 words)Essay
Industry Analysis ( Real Estate )
Their property boasts more than 2200 suites and studios which covers short and long stay accommodation requirements (GulfBase, 2015). Birwa is real estate Company that was as a result of contribution of Emir and the
1 Pages(250 words)Research Paper
Let us find you another Research Paper on topic The History of Real Estate in Dubai for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us