to the corporate world has also played a crucial role in the booming real estate values. Companies are granted 15 to 50 years of tax exemption on starting up their operations in one of Dubai's free-trade zones. This financial paradise has ensured Dubai will continue to have a booming real estate market for many years to follow.
The level of foreign direct investment has begun growing rapidly in Dubai in the recent few years. According to some estimates, investments in the private equity market have already crossed the $1 billion mark. If this does not seem remarkable then you should note that it is expected to cross $2.5 billion by 2007. There has been a sudden turn around in the recent times and the companies looking forward to making the investments elsewhere have begun making the best out of Dubai's tax exemptions.
The result is obvious. As more and more foreign companies arrive to do business in Dubai there will be an ever-increasing requirement of skilled work force. That means a further increase in the inflow of foreign nationals who will obviously need a place to stay on. In the final run, we conclude that the high demand for real estate combined with the recent changes permitting all these foreigners to own their property can only lead to a real estate explosion the likes of which the Middle East has never seen before. Already more than 30 percent of all the tower cranes in the world are engaged in Dubai. That, in itself, should give you an idea about the scale at which construction is proceeding in this world renowned city.
With the kind of luxurious life Dubai owns, the ever expanding world events taking place there, the highly competitive air fares that you might enjoy while being on its way, and the increasing number of landmarks like Burj Al Arab, Dubai Marina and Dubai Palm Beach getting constructed day in, day out, the world is bound to keep visiting Dubai for many years to follow now.
Article Source: http://activeauthors.com
Pinks Johnes is an India based freelance writer who often writes on behalf of DubaiFurnishedApartments.com. Have a look on this site to learn about Dubai accommodation and furnished apartments, and also to have them compared with what Dubai hotels might offer you.
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