Dubai Real Estate Gaining the Momentum back

There have been some ups and downs during the past decade or so throughout the world in business and economics. Some countries that showed great promise in the mid of 2000’s were not able to sustain their economic performances when the tough times came and some countries that were seen as the major business centers of the world had to face some serious problems during the recession. But one country that kept the eyes fixed on it was the UAE and the only thing that kept the global investor looking towards it was Dubai real estate business. Though there were times when this industry for some months stopped reaping dividends for the investors but in a very short span of time, it returned to the peak.

Even during the tough times of the international market and the downfall of the realty business, the Dubai City produced some of the most splendid architectural wonders that remain unmatched even today. Projects like Dubai Marina, the Palm Jumeirah Islands, World Islands, Downtown Dubai and the Burj Khalifa stand unparalleled today among the property wonders of the world. The administration of the city was able to attract the businessmen to the city by conducting festivals in the city like the Dubai Shopping Festival and also holding of events like Desert Safari Rally, Formula 1 races, Cricket matches, Football matches and this has kept the tourism alive in the city.

This tourism kept the Dubai economy flourishing and it can be safely said that it was the vision to develop tourism in the city that saved the day for Dubai because the tourist attractions that were developed in the city never lost their charm in the eyes of the tourists. Now as the recession is over and the real estate business has gained the lost momentum again, the business in the city is thriving again. If we take a look at the report on Dubai property by Bayut.com on HoustonChronicle published on Saturday the apartments for rent in Dubai are working like a magnet for the investors and the expats causing the realty market to boom and charming more and more businessmen to come here and invest in this City of Gold.

Abu Dhabi Property Rates Continue to Drop

The Abu Dhabi property prices continued to fall in the second half of the year 2012 as well. It was reported by Bayut after the end of the second quarter that the property prices in Abu Dhabi are falling. The same happened in the third and fourth quarter as well causing an overall decline of 12 per cent during the year 2012 in Abu Dhabi property sector. The report also says that the year 2013 will see a rise in the already ongoing trend that the gap between the rents of old properties and new properties is increasing.

The experts opine that the trends are going to change after the talks between the central bank of the country and the Emirates Bank Association. They are discussing the terms and a condition of the mortgage laws and this certainly is going to have an influence on the real estate business in the country. In the year 2013 17000 new homes will be delivered in the city which is 2000 more as compared to the last year in which 15000 new homes were completed.

The new developments in the city are more favored by the buyers and the investors and when compared to the old towns and property projects, they are found to be in a better position to give the investor a fair dividend. It is believed that the new properties will be able to give the investors good return but the old ones are not very much in demand right now. But the realty sector may see a respite also as the government has decided to make it compulsory for the employees in Abu Dhabi to reside in Abu Dhabi also if they want to get the housing allowances otherwise they will be ineligible for housing allowances in the country.

UAE reaping Benefits of Education

Education is the order of the day and there is no way one can prosper unless and until the education and literacy. The nations and people, who do not take good care of the studies and education, fail to leave a mark in the world and the ones who seek knowledge and strive for education along with hard work certainly reap all the benefits in the world. Same is the case with the countries and if a country does not have a good educational infrastructure there is no way that it can boost its economy or provide jobs for its people.

United Arab Emirates was also among the many other Arab states that have not been very keenly focusing on education. But during the past few years, the UAE has certainly surpassed most of the countries in the region and today some of the best universities and colleges are opening their campuses in the Dubai City where students from all parts of the world are coming to get the superlative level of education that these education centers offer. They not only offer the finest education but also generate scores of jobs every year and for this reason they are a great source of income for the state.

These universities invite the most learned scholars from across the globe to teach in these universities and with this exceptional faculty, how can the university not allure the students to come here and get the pearls of knowledge from these brilliant teachers? These universities and colleges make Dubai a center for learning and they are helping the residents of the UAE to get better education. On the other hand they attract expatriates from other countries who study here and also stay here in apartments which are a further benefit to the state. Therefore, the education sector is not only guiding the future generations of the residents and paving way for more investment at the same time as well.

JBR – A Perfect Accommodation Option – Keyword

The accommodation options in Dubai have never been limited and there have always been extravagant locations for the locals and the expatriates alike. There are places for living for every class and section of society which makes this city one of the most sought after places in the entire world. Jumeirah Beach Residence is yet another fantastic location where the expats from other countries and the other states of the United Arab Emirates live as the apartments and villas in this community have something for everybody as the employers and the employees both live here in this perfect property mix.

The location of the Jumeirah Beach Residence (JBR) is perfect as it is the best place where every important part of the city is accessible at a few minutes drive. The best of the hotels in the city are located in this very community and the magnanimous Persian Gulf that can be viewed from almost every apartment in this community certainly gives JBR an edge over all the communities in the country. The best part of the community is that it caters the needs of both the commercial users as well as the residents with its spectacular commercial properties and the superb apartments and villas.

The society is a favourite of the big investors and the common employees alike while the small and medium size businessmen also love this place as a residence. There are a lot of people who like the apartments for rent in Dubai and Jumeirah Beach Residence is a perfect place for them as the apartments can be easily rented here and one can easily find a colleague or a friend who is living here and can share the apartment with them because the rental prices of the society are quite affordable for groups who want to share apartments.

Mortgage Regulations Given New Sting

One thing that is being ensured by the Central Bank of the United Arab Emirates is that it does not want to allow any property bubble created again in the country and it has been taking every necessary step to insure it. The latest decision by the Central Bank also is another move to achieve this very goal. They have decided to regulate the mortgage financing in the state that will be implemented by the mid of this year.

It is in the final stages of development and before implementation all the major banks in the state will be asked to share their opinions and have their say about the meeting. The Emirates Banks Association long with the other individual banks will be listened to by the Central Bank and their suggestions for improving it will be taken as well.

The new regulations are being made because it will certainly draw a line and the regulation will bring uniformity in the decisions of the banks about it. Last year, some regulations were introduced in this regard by the central bank; however, the newer one will have a wider scope than the one given the previous year. Commercial banks have expressed their reservations as they believe that they were not consulted before bringing any such laws into legislation. They are of the view that such a cap will further hit the realty sector in the state and thus Central bank should review it.

However the experts at Bayut have expressed gratitude as they believe that so far the mortgage regulations were like a snake without a sting and new regulations will certainly have a good effect as it is much better to have some regulations as compared to no regulations.