Property in the United Arab Emirates
A federation of seven individual emirates, the UAE is widely acknowledged as being one of the global hotspots of overseas property investment. Over the course of the past ten years, increasing amounts of foreign direct investment have flowed into the UAE, as investors from all over the world sought to capitalise on the rapidly expanding economy and increasing rates of tourism in the country.
This policy of actively increasing the levels of overseas foreign investment has its foundations in a desire to shift dependency on the UAE revenue away from its considerable but finite natural resources.
Numerous initiatives have been undertaken to actively encourage overseas investment including 100% foreign ownership of property on a freehold basis, and tax free status on an individual and corporate level, have proven highly successful. These initiatives have proven to be the catalyst to the UAE becoming what is today the world’s fastest growing market for overseas property development, and it is estimated that the UAE has at present over $350 billion of active projects.
The undoubted focus of this growth of foreign investment in the UAE has been in the Dubai real estate market, with numerous master developments such as Dubai Sports City, Dubai Waterfront and the prestigious Dubai Marina being home to a number of new and innovative projects. This growth in demand for property in Dubai has over recent years extended into the other emirates, and today Abu Dhabi, Ras Al Khaimah and Ajman have considerable real estate markets.
Property in: Dubai | Ras Al Khaimah | Abu Dhabi | Ajman |
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