There is distortion amidst the grains of truth sprinkled about.

Dubai Creek Harbour and Dubai Square – the culmination of everything learned from developing the Dubai Marina and the Burj Khalifa Downtown area.

Q&A: 10 Frequently-Asked Questions

The internet is a wonderful thing and a great place to start your research when you are thinking about a property in Dubai, but as we are all well aware, the information can be misleading or highly embellished.

The recent announcement of the ten-year visa and 100% foreign ownership of expatriate businesses is a continuation of this planning. Though many in the media reacted with surprise to the news, it had been planned for several years, anticipating a time when it was required to be implemented to meet a need within the community.

The world is on the move.

Today, an estimated 258 million international migrants are living outside their country of birth. While some of this migration is due to warfare and famine, a more substantial and quieter movement continues to dramatically change our world – the great migration of humanity from the rural countryside into the cities.

Sheikh Rashid bin Saeed Al Maktoum, the father of Sheikh Mohammed, the current Ruler of Dubai and Vice President of the UAE, understood the transience of the wealth gained from oil.

Sheikh Rashid’s famous quote – “My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel” – reflected his concern that Dubai’s oil would run out within a few generations – and that there would be little to show if the oil revenue was not invested wisely.

In a recent Dubai Eye (103.8FM) Business Breakfast discussion, the early morning trio of Malcom, Brandy, and Richard interviewed Sam Graham from Rider Levett Bucknall about his RLB global crane index which shows that the number of fixed tower cranes in Dubai increased over the past year by 26%.

There are now 1128 cranes in the city, mainly deployed at private residential and commercial projects scattered across the city.

1 February 2018, and just 992 days before the World Expo opens in Dubai in October 2020. 

Those of us who have lived in Dubai for some years know that the city will put on a great show over the six-month exposition period.  This is an opportunity for the world not only to visit one of the fastest growing and alluring cities but also to learn more about the remarkable story of the United Arab Emirates and in fact, the entire Middle Eastern region.

I was hoping to start this New Year newsletter by including some forecasts for the 2018 Dubai Property Market. However, after an extensive search through the online news channels, the end of year reports from the property portals and those of the major real estate companies, it is almost impossible to find a consensus of opinion.

Nobody can accurately and consistently forecast the property market and one should not put too much faith in predictions. However, some things can be ‘guesstimated’ with reasonable accuracy. The market will go up and down and investors will rarely ever buy at the bottom of the market and will never sell at the top of the market. The astute property investor must ignore the noise and focus on the basics of property investment:-  location, quality, design and value within a diversified portfolio whilst investing for the long term.

It is impossible to drive around Dubai these autumn days and not see a construction crane, reminding me of the heady days before 2008 when 24/7 construction across the city often meant Dubai seemed to enjoy 24 hours of light.

Defying economic headwinds induced in part by an oil price drop, Dubai continues to push ahead with massive housing and construction projects such as Dubai Hills, Mohammed bin Rashid (MBR) City, and Dubai South.  The World Expo 2020 exhibition site is quickly emerging from the desert, connected by new roads and a Metro line.

Recently two headlines have appeared in British media that seem to present completely contrasting views of Dubai - “Dream Job Sends Employees to Dubai and Pays £200,000 with No Qualifications Needed” and “What Not to Do in Dubai as a Tourist”.  

The city of Dubai is rightly famous for the glitz and glamour of its architecture. There’s an abundant supply of majestic properties with sprawling gardens or swanky apartments overlooking its yacht-lined marinas. But despite all that opulence, the emirate remains one of the least costly places to own a home.