Dubai real estate: Why, Where and What

Traditionally having properties offshore has always been attracting to all of us. Most of us always dream about owning assets overseas. As the world is exploding and gearing towards the global village, new avenues of similar investments are opening up. Asia traditionally has been always an investor's choice because of its unlimited untapped potential. However current progressive regime at United Arab Emirates has made all efforts to open up this sector for foreign investors.

Why Dubai

Dubai with its mega malls, good infra structure, mix ethnicity, relatively more open work culture has always been a tourist destination. With its sprawling beaches, malls and night life it is almost as good as any western country. It offers excellent living conditions and sure is cheaper than our own country. Also to me one of the best advantages living over there is getting very cheap household help. In few hundred dollars we can have a home maid.

In almost all emirates only UAE and GCC citizens are allowed to own property. However Dubai has become the first emirate to allow investors to own freehold Dubai real estate. What it really means is a foreigner can purchase the freehold real estate property in Dubai under his/her name. The person can sell it, lease it or transfer it to another person as well. The owner and their immediate family members will get permanent resident visas for their life (Cost around 5000 DHS).