Why invest in Dubai…

Why invest in Dubai…

• Dubai, without any doubt, is considered to be one of the safest cities in the world.
• The least corrupt city in the region.
• Safe and protective environment for families and women.
• One of the lowest crime rates in the world.
• Strategically located at the crossroads of three continents: Europe – Asia and Africa
• Highest international standards for business, tourism and lifestyle.
• Freedom from bureaucracy, freedom of living and freedom of speech.
• State of the art infrastructure and world-class business environment.
• No corporate and income taxes.
• No foreign exchange controls, trade barriers or quotas.
• No restrictions on capital repatriation.
• Dubai is No. 1 business city in GCC countries, having strong investor incentive and protection and proud of having the fastest growing economy in the world.
• The land of more than 180 nationalities and cultures, being a multilingual and multicultural city.
• The fastest growing city in the region and one of the highest growth rates in the world for the last decade.
• Presently, Dubai is developing the most spectacular building experiment on the planet, striving to break all world’s records in terms of: the tallest, the biggest, the largest…
• After March 2007, when Law No. 7 legalized freehold ownership of land and property to expatriates in designates areas, Dubai became the No. 1 destination for investors from all over the world.
• It is a tourism and high-class lifestyle paradise…

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Hi

Is it possible for foreign non residents to get finance to purchase in Dubai?

Terryw
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Terry@discoverhomeloans.com.au
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Yes if you have a job or a business in Dubai.

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Geez, they are bargain priced ...... lol

I used the currency converter on the cheapest property I found on your site and it is $753,000 AUD for a 2 room or 2 bedroom I presume. Way over my risk factor ....... good luck

You can get finance from several sources. We work with developers who have some 10 or so banks in hand. Some will lend to non -nationals without Dubai status and without having a job there. There are also a growing number of 'Globally' known banks for want of a better word that will lend to a very wide range of nationalities.

Not every country is catered for and applications must be submitted just as if you were buying investment property in your local country.

We work with 10 developers and have all the details about finance.

Paul

Paul, Director - International Property Directory

Generally in Dubai you can enter the market for about $300,000 AUS or even less if you find units that have come back on the market. Some developers offer their agents stock units that are not on general release.

In Ajman which is about a 20 minute drive North East you can enter the market for half this amount easily - and with reputable developers which are global concerns.

The best time is to get in at the pre-launch level. We have just had one that started with a 7% discount on street prices.

Note - commercial real estate has gone from around 1400 AED per Sq ft some 9 months ago to 2600 AED - 3600 AED with no trouble at all. And with sq ft prices still half of what you would pay in New York and a Quarter of that in London UK you might get an idea of the potential.

Abu Dhabi is expensive but a market where property goes like hotcakes. One developer released 12 buildings today. 8 were sold out before they reached pre-launch status.

Crazy perhaps - we still look at sq ft prices and it is below what you would find in comparabel cities like London UK, New York, Tokyo and Hong Kong. Lest not forget this is going to be a very large finanacial centre - perhaps the main one as the middle east seems to be propping up many financial markets as of now. Look at City Bank in the US - makes you wonder!

Paul, Director - International Property Directory

Hi All,

Nothing againt Dubai, but could not resist as I just came back from there.. I was born and lived in dubai before I came to Sydney. I have most family there.

few things to consider which only an insider can tell u....

1) its not democracy, its sheikdom... rules can change anytime... and as the ruling family sees fit.
2) for same job, that an arab national does, a white person does or any other nationality. everyone gets paid differently..
3) currently everything is over developed..... but little or no infrastructure in place to support it... yes the train lines are coming,,, but it needs more of everything..
4) there are many many buildings which are sold basically to black money of the world... and most towers in dubai marina, palm jumeirah etc.. are mostly empty...
5) the extreme weather, which everyone knows but living in 50 degrees is not easy..

please consider both good n bad points. n i recomment do visit the place...... n decide for urself.

InvestHut

AH Finally a sensible response!

Investhut speaks the truth! I have lived here myself for 6 years now and have only invested back home in AUS. All of his points are still valid (and true). Be VERY CAREFUL when doing business in the Land of Sand. No offence but Mr dubaiprop sounds very "salesman like".  I have some friends and work colleagues who have been severly "burnt" investing here, I also have some colleagues who have done extremely well they have timed the market correctly, it's all very risky and corrupt.

I can confirm indeed that:

1) its not democracy, its sheikdom... rules can change anytime... and as the ruling family sees fit.  - WHICH HAPPENS WEEKLY!
2) for same job, that an arab national does, a white person does or any other nationality. everyone gets paid differently..  - READ LESS!
3) currently everything is over developed..... but little or no infrastructure in place to support it... yes the train lines are coming,,, but it needs more of everything...  - EXCEPT WE NEED LESS CARS!
4) there are many many buildings which are sold basically to black money of the world... and most towers in dubai marina, palm jumeirah etc.. are mostly empty...  - READ THE MONEY LAUNDERING CAPITAL OF THE MIDDLE EAST!

Take care and good luck to all. 

some very valid points here and most of them require further education on what can be done in this desert land, even now it still holds many treasures, but if you do wnt to buy in dubai there is a somewhat simple rule, buy first hand property from the developer, so better do the financial homework first, come to dubai and purchase the property.

and no you dont require to have a job or business in dubai to live, they will give you a residence visa upon purchasing a property, thereafter give the property to century 21/remax/colliers to manage the property.

its easier to write but its very much possible.

camel_81