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Real Estate surmounting in the UAE by riley luke
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Real Estate surmounting in the UAE |
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Business
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The United Arab Emirates has been quite principal in the construction establishments The projects that range from High range luxury apartments to villas to office space and skyscrapers. With a few innovative projects like the world trade centre in Abu-Dhabi and the Burj Kalifa in Dubai testing the laws of construction to greatest levels. The real estate establishments in the United Arab Emirates has grown in leaps and bounds with the projects resorting to the sea as well. The Palm islands and the World islands are a perfect example of the constructions resorting to the sea. The Palm Island is a fantastic piece of construction questioning the laws of engineering to greatest heights. Cityscape Global a property exhibition since its start in 2009 has been running for the fourth year continuous has seen an upward curve in the number of exhibitors and attendees. Sources say that more than 200 regional and international exhibitors have signed up to attend the exhibition showcasing their innovative and ground breaking projects. The Burj Area in Dubai being considered as hot property with luxurious villas, hotels and apartments being constructed or being completed in the near future. This area has also seen a record 736 buildings being built in the first quarter of the financial year 2013. This is an increase of about 7 percent compared to the previous quarter. Due to the increase in the number of construction projects companies providing engineering materials are also benefiting. A Middle East company supplying Engineering construction materials having gone under in the recession with about Dhs11.7bn has recovered well from construction projects in the UAE region to about Dhs7.4bn. This not only showed that the construction projects help the economy of the United Arab Emirates but also improve the quality of living and infrastructure in the region. Dubai’s real estate market has been showing positive signs of growth in the short and medium term. A Dubai based Realty Company which aims at providing quality products to potential buyers, sees an investment growth in the region’s residential and commercial projects due to the uncertainity in the economic conditions in Europe and other parts of the world. Dubai is attracting people to invest in their land in exchange for excellent standards property and infrastructure. Chiefs of realty companies says that Dubai is in safe heaven ahead with investors and property buyers preferring to invest in the emirate realty sector. Another reason that attracts people towards the Emirate realty sector is the tax factor. The negligible taxes and capital gains compared to countries like France which has about 75 percent in tax rates for the indispensable slabs, adds the chief of the Realty firms of real estate management in UAE .
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