Dubai is considered as one of the best cities in the world for real estate investment as the city is rapidly developing. Furthermore, the city provides a wide range of property projects from commercial to residential properties.
It should also be highlighted that the real estate market in Dubai is also favorable for holiday properties that are hotels, villas, and resorts. Investments in Dubai acquire rental returns for investors and Dubai is a widely popular choice. For instance, in 2018, there were 3.8 million square meters of the gross leasable area for retail in Dubai.
The available evidence provides a premise to believe that the UAE and India are those countries that invest the most in Dubai property market. India is one of the strongest economic partners of the UAE. As India is the second-largest investor in the property market of Dubai, it can be assumed that India demonstrates its confidence in the reliability of Dubai’s economics. Therefore, such cooperation provides an opportunity for India to expand its capital to other leading markets.
UAE is the second-largest economy in the region of the Middle East. The economy of the state depends greatly on oil and natural gas. In addition to this, such industry as tourism is also one of the most crucial sources of revenue in the UAE.
It should be highlighted that the top 10 countries that invest in Dubai property market are the UAE, India, Pakistan, Saudi Arabia, the UK, Egypt, Jordan, China, Lebanon, and the US (Reiser, 2019). At the same time, there is also a high level of interest from citizens of other countries in the real estate market of Dubai. Therefore, it can be assumed that Dubai has become the place for safety and security from the perspective of investment.
In the last few years, there has been a rapid increase in off plan projects in the Dubai real estate market. Those who invest in the property market of Dubai might get a great number of benefits.
The main benefit of investing in Dubai is its location that is between the Middle East, Asia, Africa, and Europe. It is one of the most developed infrastructures for residents, a great variety of business opportunities, the low level of crime, an appropriate climate for entrepreneurship, foreign investment and one of the most peaceful countries of the world.
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It should be clarified that investment in Dubai has already become a trend, and there is a high demand for real estate especially with new projects like Dubai Hills Estate and Bluewaters Island. Moreover, Dubai demonstrates a high level of economic diversification. The available evidence provides a premise to believe that the economy varies greatly from gold to oil.
In addition to this, Dubai is a modern city that attracts business people and tourists. It should be clarified that Dubai does not depend only on oil as other spheres such as tourism are rapidly developing there. Consequently, from the perspectives of a favourable business environment and high level of foreign investment, it can be assumed that the property market in Dubai will constantly grow.
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The available evidence provides a premise to believe that for those people who invest in the real estate market in Dubai, it is of paramount importance to choose the most appropriate area to identify the return on investment.
The area such as Dubai Hills Estate, Green Community, City Walk, Jumeirah Village Circle (JVC), Meydan City, Jumeirah Beach Residence, The Springs, Business Bay, and Dubai Sports City are considered as one of the best areas to invest in Dubai and get a profitable return on investment.