In theory, the emirate of Dubai, United Arab Emirates was first to get involved in freehold real estate. Six years ago, the Dubai government agreed to give expatriates an option to take a 99-year lease a particular property in Dubai.
But in May 2002, Crown Prince of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, has issued a decree giving foreigners a free hand to buy freehold properties in Dubai. According to experts, this movement has begun residential property boom in Dubai.
At that time, the freehold property in Dubai is limited to areas of Bur Dubai. This is the area that connects Dubai to Abu Dhabi. Sheikh Zayed Road, Dubailand, Jumeirah and Jebel Ali in the vicinity of Bur Dubai.
Emaar Properties
Emaar Properties is widely regarded as the largest real estate company in Dubai. In fact, Emaar Properties was the first company to enter the property. Some of their projects are listed below:
Burj Dubai
Burj Dubai is the tallest in the world surrounded by a complex combination of commercial, residential and hotel.
Dubai Marina
Dubai Marina is the largest man-made marina in the world. Besides, Dubai Marina is one of the largest in the world of development of master planned waterfront. According to press reports, the first step in developing Dubai Marina will consist of six towers of apartments facing the sea, namely, Sahab Twin Towers, Marina Crown, Manchester Tower, Al Seef Tower and 64 luxury villas.
Golf Tours
Golf Towers is essentially two high-rise residential towers overlooking the Emirates Golf Club.
Al Nakheel Properties
Al Nakheel Properties is now the most famous real estate in Dubai run by a Dubai government.
Some of their projects are listed below:
Palm Islands – The Palm Islands is known as 8th wonder of the world thanks to its beauty. The island consists of Palm Palm Jumeirah, Palm Jebel Ali and Palm Deira.
Le Monde – The World is a collection of 300 artificial islands built off the coast of Dubai.
Jumeirah Lake Towers — Located between 5 and 6 of exchange outside of Sheikh Zayed Road, Jumeirah Lake Towers consists of 45 uniquely designed towers. The best part, Jumeirah Lake Towers is that there are huge artificial lakes and waterways in the region that give beauty and value.
International City – Located in Al Warsan, International City is a very good investment property. International the City not only attracts many tourists, but also offers business opportunities. The residential part of the International City is composed of units of study, one and two bedrooms.
Dubai's property market is setting the standards for property development worldwide. With developments such as Dubailand and the world about I conclude, there is no doubt that the real estate market in Dubai remains an ideal place for investment in future years.
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