It is The Best Time to Invest in Dubai Real Estate
According to London-based property adviser Mohammed Kashani-Akhavan, the current cancellation of development projects is likely to reduce supply, thus resulting in existing properties increasing in value in the future.
Dubai-based Meraas Development, which has unveiled a $95bn (£63.8bn) property project since being formed just two months ago, is the latest construction firm to announce that it is now reconsidering its plans in light of the economic slump.
Click here to see the Image in Full Size…..
Another Project, Trump Tower, a £535m scheme planned for one of Dubai’s palm-shaped islands, is another scheme to have been suspended in recent weeks.
Kashani-Akhavan, who has 27 years experience in property investment said, “It is a great time to invest,” he remarked, adding that in order to become a successful property investor the best tactic is to “buy low when everybody else is selling”.
He also stated that the emirate’s “capable and committed leadership” is well-positioned to ensure a successful future for Dubai, noting that it has already helped turn the city into one of the “most important in the world”. “That should give investors every confidence in Dubai’s future prosperity”, He added.
Peter Cooper, author of the book Opportunity Dubai, making a fortune in the Middle East, said there is a much better argument to be made for buying at depressed prices In Dubai than in the UK or even the US.
‘Real estate price falls may already be fully priced into the market in the United Arab Emirates, while prices are still heading down in the UK. It is a feature of emerging markets that price downturns are swift,’ he explained.
‘This is a tough one. Oil prices could fall further in 2009 and the UAE economy lags oil price falls by six months or so. Could a fall in the US dollar attract back the UK and European buyers who have fled since the summer?’ said Cooper.
But he concluded that the UAE has to be a good choice for the future.
No, I don’t think so because all over the world property prices are dropping and more over those under construction are finding it hard to sell. On the other side if you think you can make an investment in these financially hard times then there are good bargain offers which means real good value for money.
Yes I totally agree with you, that Dubai being the Switzerland of the Middle East. Even Dubai have the higher skyscraper in the world almost completed on his elevation were people can invest, yes am talking about Burj dubai tallest tower in the world. The burj dubai tower willbe one the most visited attraction in the world with restaurant, business corporate floor, view room.
Well Dubai is a fantastic place, it is really growing as a premium business center of Asia and in the coming days Dubai Property has a bright future.
Tainted Satyam founder B Ramalinga Raju knocked every door, known and unknown, and even reportedly travelled to Dubai several times during 2008 in an apparently desperate attempt to raise resources before finally throwing in the towel and making the confessional statement.
I hope no one invested! Other wise they would be in deep deep trouble, thanks to the recession!
thank you for information. in my oponion you are a good writer 🙂
You might want to read the information on the Sorenson Genealogical Database site.
Yes i think no one is going to invest.. It seems that let real estate in dubai is also getting complicated. I have known few good agents those can help us finding some good way out.