Real Estate Properties

Theoretically speaking, Dubai was the first emirate of the UAE to get involved in freehold real estate. Six years back, the Dubai government agreed to give expatriates, an option to have a 99-year lease of a particular Dubai property.

But in May 2002, the Crown Prince of Dubai, Sheikh Mohammed bin Rashid Al Maktoom, issued a decree giving foreigners a free hand to buy properties on freehold ownership in Dubai. According to the experts, this move started the real estate boom in Dubai’s residential property.

At this time, freehold property in Dubai is limited to areas of Bur Dubai. This is the area where Dubai links up with Abu Dhabi. Sheikh Zayed Road, Dubailand, Jumeirah and Jebel Ali come under the vicinity of Bur Dubai.

Emaar Properties

Emaar Properties is widely regarded as the Dubai’s biggest real estate company. As a matter of fact, Emaar Properties was the first company to get into freehold property. Some of their projects are mentioned below:

Burj Dubai

Burj Dubai is the world’s tallest tower surrounded by a combination of commercial, residential and hotel complexes.

Dubai Marina

Dubai Marina is the biggest man-made marina in the world. In addition, Dubai Marina is also amongst the world’s biggest master planned waterfront development. According to media reports, the first stage of Dubai Marina development will consist of six waterfront apartment towers, namely, Sahab Twin Towers, Marina Crown, Manchester Tower, Al Seef Tower and 64 luxury villas.

Golf Towers

Golf Towers is basically a two residential high-rise towers that will overlook the Emirates Golf Club.

Al Nakheel Properties

Al Nakheel Properties is the most famous real estate company in Dubai run by a Dubai Government.

Some of their projects are mentioned below:

The Palm Islands – The Palm Islands is known as 8th wonder of the world thanks to its scenic beauty. The Palm Islands consists of the Palm Jumeirah, the Palm Jebel Ali and the Palm Deira.

The World – The World is a collection of 300 manmade islands built on the coast of Dubai.

Jumeirah Lake Towers – Located between Interchange 5 and 6 off Sheikh Zayed Road, Jumeirah Lake Towers consists of 45 uniquely designed towers. The best part about Jumeirah Lake Towers is that there are tremendous manmade lakes and waterways in the area that give it an added beauty and value.

International City – Situated in Al Warsan, International City is a pretty good real estate investment. Not only International City attracts plenty of tourists but also offers business opportunities. The residential portion of International City consists of units of studio, one and two bedroom apartments.

The Dubai real estate market is setting the standards for property development all around the globe. With developments such as Dubailand and The World on verge of completion, there is no doubt that the Dubai real estate market will remain an ideal place for investment in the coming years.

By: Sophia K

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