Real Estate In Dubai

Real Estate

The real estate prices in Dubai are inexpensive compared to similar trading hubs such as London, New York, Tokyo and Hong Kong. For instance, these ‘global’ cities’ average office space prices are more than triple the price of Dubai. Even though prices are still cheaper, they are starting to catch up.

Although the rates are still low, the Palm, Jumeirah villas have doubled. These villas will not even be completed for two years and they are in such high demand. Donald Trump is even getting in on some of the action with the “Trump Towers Dubai” building planned for the island which will be a $600 million development. The Shorline Apartment will be on the same island as the Trump Towers and are very high in demand because of the location and the amenities that will be offered.

Even though a lot of the office spaces are already sold out, here are some price ranges for office space per square feet in Dubai:

Building	Price
Bayswater	1170 AED
The Binary	1300 AED
XL Tower	From 1285 AED
Stadium Point Office	From 770 AED
Park Towers	1250 AED

The Park Towers shown to the right are two, thirty story buildings that offer a variety of spaces. There will be residential, commercial, retail and leisure spaces available. These towers are located in the residential district of DIFC in Park Boulevard which is a prime location.

History

Dubai is part of the United Arab Emirates which has seven emirates in total: Abu Dhabi, Dubai, Ajman, Sharjah, Ras Al Khaimah, Fujairah, and Umm Al Qaiwain. This country gained Independence from the UK in December of 1971. Recently the City of Dubai has been rapidly increasing in size and economical progress. The sky is the limit.

Economy

The Dubai economy has a trio combination of market, cost and environmental advantages. This brings about a very attractive investment arena for locals and non locals. Investments in real estate in the city are open to people all over the world. Most of the export earnings for this country are from oil which they produce mass quantities of. It is believed that the supply of oil will last over 150 years which is a big figure. This may be hard to believe for some people considering the U.E.A. produced about 2.5 million barrels in 2005.

Architecture

Architectural design in Dubai is very unique and well thought out. The buildings have a very modern look and innovative structures. The new tallest building in the world is said to be in the works today as well. Two very distinctive designs are the Ocean Heights building and The Cube located in Cube City section. Both designs are in production and there are many other projects in the works.  The leaders really think out of the box in Dubai.  They ran out of space to build new hotels on the coast line and decided to build artificial islands in spite of the problem.  Now they will be able to proceed with building on the new land that they create.  Here is a picture of the islands shaped as the world map and the Palm Islands below:

The Cube:


Ocean Heights:


The World:


Palm Islands: