Buying and Renting Apartments in Dubai

If you have good amount of money in your pocket and are firm believer of globalization with a certain taste for real state and traveling then Dubai is the only place on the Earth where you can accomplish all your desired goals to be completed, as far as it is concerned with investment or buying an apartment in Dubai.

Apparently, there are many reasons that led to the real estate market in Dubai to grow manifold. First of all, the development of oil industry since the discovery of oil in 1966 led to the immaculate development of Dubai in every sphere of life. As UAE is not much advanced, technologically, therefore, it had to seek assistance from many foreign companies which have made their project sites in UAE and Dubai as well. This resulted into the great influx of professionals as well as migrant labors in Dubai, approximately 80% population of Dubai is Migrant.

More population gets added in Dubai in form of tourists who come to Dubai enjoying desert, shopping and beaches in Dubai. Tax free goods including golden jewelry up to expensive cars is great craze for people around the globe as they frequently visit Dubai for buying in shopping festivals and malls in the city.

This huge crowd of human mass led to the need of residential space in form of hotels and Apartments in Dubai that led to appropriate growth of real estate property in Dubai. Presently Dubai has all prominent chains of hotels and every big builder from the Globe in real estate industry.

One can have two choices for owing an apartment in Dubai; one can either rent or permanently buy them as according to his need. For renting one can choose either any of one from apartments, hotels, hotel apartments and villas on short term basis on one's requirement and available budget. Renting a furnished apartment on self catering basis is very cheaper option than a hotel to stay when a tourist intend to stay in Dubai for a longer period of time, if compared to a holiday package. Dubai Marina is suited place with a cosmopolitan feeling for apartments in Dubai for foreign tourists.

As for buying apartments even take initial steps after buying apartments from a real estate agent of repute. An agent can assist you in finding, researching, investigating and buying a property of your choice within budget. The most preferred location to buy a property in Dubai are Jumeirah, Meadows, Dubai Marina, Deira, Arabian Ranches, Business Bay or the Golden Beaches, Dubai Palm Island, The Springs, Emirates Hills,etc.

Government Investment and Buyer Confidence keep Dubai Building

The Dubai property scene has taken a hit this year but will still attract investment, report Alex Evans and Ben Dahlstrom in the Times online.

Dubai, the virtual city that once existed only in stunning computer-generated images, is taking shape and emerging out of the sands. For some, it’s the greatest example of what can be achieved through focused government investment and investor confidence. For others, it’s a bold experiment that could still fail spectacularly as the world goes into economic slowdown.

Despite the rising cost of steel and cement, Dubai has 4m sq m of property under construction, worth a staggering £2.7 trillion. It is looking to rising tourism, an increasing local population and new buyers from emerging economies for future demand, with its favourable tax status drawing businesses, professionals and those looking for a luxury haven to the city.

Whatever your view of Dubai, its global visibility is impressive. Aspirational buyers from India’s burgeoning middle class are looking for holiday home investments, while Russia’s senior professionals are seeking tax-friendly and prestigious destinations with renewed impetus, following that country’s recent stock market collapse.

Unlike other second-home destinations such as Florida and Spain, where concern about buyer interest prevails, the main anxiety about Dubai has always been about delivery now – will the property be finished on time and of the quality promised? – although doubts have also been raised over projections of potential oversupply in the future. In the meantime, a dearth of available units means rents are still high and, despite attempts to cap rent increases, professionals are seeing less benefit from their tax-free earnings.

The prevailing view, however, is that Dubai will ultimately deliver. An estimated 140,000 accommodation units due to be completed by 2010 are predicted to bring rents down, making the city more attractive to international workers – and thereby creating further demand for rental property.

As the Dubai stock market has convulsed and the extent of sovereign and corporate debt has been revealed, there has been an understandable loss of investor confidence in the sustainability of its growth, and the security of investment in the region.

On the other hand, Dubai’s government has introduced several confidence-boosting measures over the past year. Developers are now obliged to hold all payments in escrow and a new online registration system (Ogood) will create transparency by introducing a property index. To avoid cases of off-plan units being sold to several buyers, developers must preregister before selling. And it is not just buyers who need more regulation. To protect developers from “flippers” (off-plan buyers who want to sell before completion and may not be able to pay the full price if they do not find a buyer), the authorities have declared that buyers defaulting on payments or breaching contracts will forfeit 30% of the sale price to the developer.

Dubai has always been a bold market. Bolstered by local wealth, international expertise and government support, it will continue to generate interest.

One floor completed every week at Ocean Heights tower

Construction contiues apace in Dubai
Contractor Arabtec undertaking an impressive pace at Marina development Luxury lifestyle provider DAMAC Properties is showing its determination on delivery by completing a floor every 5.2 days at its Ocean Heights tower at Dubai Marina. The 84 storey skyscraper is being constructed by Arabtec, one of the Gulf’s leading construction contractors and currently staff on-site are successfully delivering one complete floor in a little over every five working days. Ocean Heights is set to be one of DAMAC Properties’ most iconic buildings with a twisting architectural design which is now starting to take shape. People driving past the building at Dubai Marina can now witness the building starting to give the appearance of ‘turning’ as it reaches the 30th floor. CEO of DAMAC Properties Peter Riddoch welcomed the progress on site by Arabtec and praised the focus and efficiency they had shown. ‘We are working with Arabtec on many of our buildings. They have a reputation for delivering successfully on projects and for meeting even the most complicated of building challenges,’ he said. ‘With delivery being at the heart of the DAMAC promise for customers it is so important to us to see progress of the nature we are seeing at Ocean Heights. One floor being completed every week is something both companies are rightly proud of.’ Ocean Heights will eventually offer 680 apartments ranging from one to three bedrooms. In addition several floors of the building will feature DAMAC Properties’ Signature Series penthouse range – ultimate luxury apartments with the latest in hi-tec gadgetry and luxurious home comforts. These apartments have been designed by HBA (Hersh Bedner Associates), a leader in hospitality interior design worldwide, and combine elegant décor with the most up to date home management systems. In addition to providing stunning individual homes, Ocean Heights will offer an outdoor leisure deck complete with pool plus a gym and sauna/steam rooms for all residents. There will also be restaurants and cafes at ground level with nearby links to the new Dubai Metro and extensive leisure facilities and shops of the Marina on hand. The building is scheduled for completion in 2010. Mr Riddoch added:‘Ocean Heights is set to become one of DAMAC Properties’ flagship buildings with its eye-catching external design and beautifully finished apartments so we are delighted to see the excellent progress being made on site. ‘We are confident that continuing to work closely with Arabtec we will continue to make further strides during the first few months of 2009 and people in Dubai will continue to see swift progress being made at this iconic building.’

Ocean Heights is situated in the premium acres of Dubai, earmarked for resorts, boutique hotels and breathtaking futuristic developments. Where you can choose between the refined pleasures of luxury hotels and entertainment plazas, and a sundown barbecue with your family and friends.

When you have your home in one of the 680 luxury freehold condominiums of Ocean Heights, overlooking magnificent vistas on all sides, your views simply have to be beautiful and grand. In fact, the majestic tower is a sight by itself; spiraling skywards dramatically different from every angle you view.


At Ocean Heights, Dubai you can experience the finer points of life at their finest. And discover a lifestyle, which is just your kind, in a neighborhood that is home to the cream of Dubai's avant-garde society. Up here, the good life gets even better.

That's what the ambience of Ocean Heights Dubai is. It urges you to live a healthy life, to the fullest. Besides the refreshing breeze around, you will have all in-house amenities to relax and stay in the pink of health

Reasons to Buy Dubai

Ten reasons Dubai real estate will continue to boom
Dubai real estate may well be the next asset class bubble to be created by inappropriate interest rate levels set by the US, alongside Hong Kong property. But there are at least 10 good reasons to think the present realty boom in Dubai will continue for rather longer than many outside observers believe possible.
They may seem high now, but property prices will continue to rise


1. Dubai mortgage rates are around 8.5 per cent and have yet to adjust to the recent US rate cuts, which they have to do because of the dollar peg to the dirham. Just a couple of years ago local mortgage rates of seven per cent were available. Therefore the downward pressure on the cost of home finance is clear, and if the local mortgage market follows Hong Kong and becomes more competitive, then interest rates could go much lower, making it significantly cheaper to buy than rent. Real interest rates are already negative due to high local inflation.

2. Rental yields in the Dubai market of 7-10 per cent are abnormally high by international standards. Rents are unlikely to fall in a booming market, so it is more likely that rising capital values will gradually pressure yields down towards global levels. There is no reason why rental yields should be higher in a booming city like Dubai than in a city where the economic outlook is poorer.

3. The hype about Dubai development projects has admittedly duped even this skeptical correspondent over the years. The fact is that far less supply is coming on stream than promised by overenthusiastic developers, due partly to limited supplies of manpower and materials. Dubai Properties is one of the biggest and has just said it will deliver 5,000 units to the freehold market in 2008 which is not nearly enough to meet surging demand.

4. Dubai house prices are still low in absolute terms in comparison to other global cities with similar salary levels. The HSBC survey of house prices in comparison to per capita GDP put Dubai and Abu Dhabi near the bottom. This is a historic anomaly that will be eliminated by price rises.

5. Six years ago, when Dubai freehold began, it was a market without any formal legislation and regulatory infrastructure. Now it has world-class laws, a state-of-the-art land registry and a strongly-led regulatory authority. Hope has been replaced by experience.

6. The Dubai Financial Market crashed in 2006 pushing local investors into property as an alternative. It recovered in late 2007, but is now again trending downwards with global stocks, and has become highly volatile, shifting over 10 per cent in a day. Expect stock market participants to again seek a more stable alternative.

7. Indeed, the absence of investment alternatives is a major theme for 2008. Global stock markets have had their worst January in history. Recent US interest rate cuts leave deposits paying 2.8 per cent. This makes Dubai real estate look attractive as an alternative. Where else offers such a return?

8. In the same way that the local stock market crash attracted foreign bargain hunters to invest last year, foreign investors in search of yield are also increasingly investing in Dubai real estate. Problems in the UK housing market might be dissuading some buyers, but large numbers of oil-rich Russians, for example, are now buying in Dubai.

9. Dubai still has some undeveloped market niches in real estate, such as holiday lets and fractional ownership, which are big and even dominant market phenomena in many beach resorts around the world. This source of higher rental yield on property has therefore yet to be fully tapped.

10. The Dubai Government has been the most proactive developer in the emirate, and its recent legislation and regulatory initiatives suggest that this support is not only likely to continue, but will respond appropriately to any adverse market developments.

Overseas Property: the Time to Buy is Now

With the credit-crunch and rising oil prices becoming a devastating tag-team on the global stock market and the performance of other investments, global real estate is becoming the most popular investment choice.

Billions of dollars are being put into the creation of more and more property investment funds around the world, and almost every country in the world is getting in on the action. The emergence of Africa onto the international property investment scene, and now even Iraq seeing its first luxury property development, is testament to the rising popularity and profitability of overseas property investment.

The time to buy is definitely now, no one can say for sure when the credit crunch will end, prices in the best emerging markets are rising well above inflation, and getting higher all the time, not to mention building regulations making off-plan purchases harder to come by in some of the older strong markets – off plan property providing the best value and biggest potential for profit.

Burjside Terrace Serviced Apartments

Dubai Serviced Apartments
Burjside Terrace blurs the line between service apartments and luxury hotels. Located in the ‘platinum’ square kilometer of Burj Dubai District , Burjside Terrace is the epitome of quality living, and the pinnacle of lucrative investment opportunities.
Facillities at Burjside include;
62 levels of luxury serviced apartments
5 levels of podium
Dedicated level for leisure and relaxation
State-of-the-art gym and health club
Swimming pool, Jacuzzi, mini basketball
Ample parking

Dubai

Dubai is the fastest growing city in the world. It is estimated that 50% of the world's supply of cranes are at work in Dubai on projects worth $100bn including an estimated $800m on construction of the world’s tallest building, the Burj Dubai, which will stand 800 metres tall when completed. Dubai is home to the world's only seven star hotel, the Burj Al Arab and an indoor ski centre. Other developments include an underwater hotel, a Chess City (buildings in the shape of chess pieces) and Dubailand, which will become the world’s biggest theme park. It has been forced to diversify to compensate for far more limited hydrocarbon reserves. The economy is based on Dubai's reputation as an entre pot for the region, its vibrant tourist industry and thriving free trade zone.

GEOGRAPHY
Dubai is situated on the Persian Gulf coast of the United Arab Emirates and is roughly at sea level (16 m/52 ft above). The emirate of Dubai shares borders with Abu Dhabi in the south, Sharjah in the northeast, and the Sultanate of Oman in the southeast. Hatta, a minor exclave of the emirate, is surrounded on three sides by Oman and by the emirates of Ajman (in the west) and Ras Al Khaimah (in the north). The Persian Gulf borders the western coast of the emirate. Dubai is positioned at 25.2697° N 55.3095° E and covers an area of 4,114 km² (1,588 mi²).


Dubai lies in the Arabian Desert. However, the topography of Dubai is significantly different from that of the southern portion of the UAE in that much of Dubai's landscape is highlighted by sandy desert patterns, while gravel deserts dominate much of the southern region of the country. The sand consists mostly of crushed shell and coral and is fine, clean and white. East of the city, the salt-crusted coastal plans, known as sabkha, give way to a north-south running line of dunes. Farther east, the dunes grow larger and are tinged red with iron oxide.The flat sandy desert gives way to the Western Hajar Mountains, which run alongside Dubai's border with Oman at Hatta. The Western Hajar chain has an arid, jagged and shattered landscape, whose mountains rise to about 1,300 meters in some places. Dubai has no natural river bodies or oases; however, Dubai does have a natural inlet, Dubai Creek, which has been dredged to make it deep enough for large vessels to pass through. Dubai also has multiple gorges and waterholes which dot the base of the Western Al Hajar mountains. A vast sea of sand dunes cover much of southern Dubai, which eventually lead into the desert known as The Empty Quarter

Holiday Destination Dubai

Dubai Beaches
Beaches are the perfect place to relax and shed off your worries and tensions. However, every beach on the earth is beautiful but beaches in Dubai are incomparable and just mesmerizing. Imagine lying on white sand, looking in the Persian Sea or showing your volleyball skills, beautiful isn’t it? The endless stretch of beaches along the Persian Sea not only gives peace but the ultimate pleasure to revitalize senses. To have a personalized service, you can join one of the five star hotel’s private beach clubs and avail their facilities. You can also make your weekend classier by renting out a beach club and enjoy your time with family and friends. However, public beaches are also available in Dubai, allowing public to bath and enjoy their sun bath. Jumeirah Beach Park is a major tourist attraction of real estate dubai, giving hours of pleasure and enjoyment.
Sightseeing

Dubai is really two Cities, Dubai and Deira. Divided by the Creek, they are a paradise for sightseeing and both have their unique characters. You will be amazed at the diversity of architecture and cultures to be found here, ranging from traditional Arab houses to magnificent modern towers of steel and glass.

The Creek is the main artery of Dubai, winding inland from the Gulf for about six miles. On its clear waters you will see traditional teak trading dhows plying their trade across the Gulf, heading as far as India. At night, the waterfront is a hive of activity, as Abras, the local water taxis, crisscrosses the Creek carrying people to their chosen restaurant or attraction for the evening.

Dubai does not only offers the usual sun, sea, sand or skiing in the dome;
Camel Racing is an ancient sport which has been renewed with much enthusiasm in recent years. Informal desert tracks and now quite a few official ones have been assigned for this purpose - a large ten kilometer track on the Al Ain road, about forty-five kilometres from Abu Dhabi city; at Al Ain itself, at Dubai and Umm Al Quwain. Certain slender, finely formed breeds such as the white or golden 'Anafi' and the brown or black 'Boushari' are more suitable for racing. Camel training commences at about six months, entrance for official races beginning at about three years.Camel races, usually held early on Fridays or on national holidays, provide visitors with a unique opportunity to observe traditionally clad local people in harmony with their surroundings. Camel racing season begins on Thursdays and Saturdays, Early October.

Desert Safaris-Trips to the desert in groups can be a great way to explore the desert and also know other people and find out a little bit more about the Arabic culture. Safaris are generally half day and can include an overnight stay in one of the Bedouin tents.

Wadi-Driving - This is a popular pastime with both residents and visitors. This involves exploring the wadis or dry beds of streams that flow after winter rains from the Hajar mountains.

Dune driving - Driving in sand can be a thrilling experience by itself and this combines the excitement of a roller coaster ride with the challenge of remaining mobile on the shifting surface. Courses in sand driving are available, with four-wheel-drive vehicles provided, along with expert instruction.

Sand-Skiing - Those with a penchant for speed, a head for heights and enthusiasm for an unusual sport will enjoy sand-skiing down the dunes of the Dubai desert.

Desert Feasts - Safaris are made more pleasurable by culminating into an evening with spectacular sunset views followed by a traditional Arab barbecue under the stars. You can even tailor your evening to your need and round it off with some great Arabic music and belly dancing, the smoking of hubble-bubble pipes and often a display of falconry.