Estimates suggest up to eighty percent of Dubai's current population might be composed of the foreigners living and working for its development. Providing Dubai with an adequate amount of living and working space has always remained to be one of the prime concerns for its planners.
All this has reflected results in the real estate market and property in Dubai, with a phenomenal increase in infrastructure financing and a huge amount of real estate development in Dubai and other parts of the Middle East, particularly in the United Arab Emirates. Dubai is home to the worlds largest made made island called "The Palm" and has been referred to as the "eigth wonder of the world".
The Dubai economy has grown steadily over the last few years, with 93% of Dubai’s GDP coming from non-oil sources in 2004, a share which is increasing, particularly in the real estate, trading and tourism sectors. Oil Prices – The price of oil has increased steadily from an average of $20 to $70 a barrel in 2006 and the financial surplus has been channelled to either one of the two investment avenues expected to provide high returns, namely the stock exchange and real estate.
Those looking for a longer term real estate investment opportunity in Dubai and wishing to get ahead of the curve should be looking at family villa accommodation. Whether you were looking forward to private accommodation, or you just had a desire of visiting and staying in one of those many world class hotels of Dubai, this was the right time to start working out with your plans.
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