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.

How UAE Rose to Limelight?

The best part about the UAE is that it has become one of the business and real estate giants in the world out of no where or we can say out of just scrap. It was a desert country and the main attraction of the state was fishing and pearls that were found in the sea. The residents of Abu Dhabi fed on these pearls as they had not many options for earning a living. And today when we look at Abu Dhabi, we can’t even believe that the same state was nothing but a barren desert some fifty odd years ago.

The credit must be given to the resilience of the nation and especially the administration that led the nation in those tough times and later utilized the natural mineral resources of the country with perfection to become one of the most important states in the Gulf region. It is a fact that the oil is one of the biggest weapons that a nation may have today in this fuel driven international economy and industry and UAE had that power but to utilize it to excellence is the important thing and they have done that with great skill and expertise.

The main strength of the UAE administration is that they have been innovative and instead of relying simply on oil and mineral reserves, they tries to utilize this strength of theirs in other fields. They had the basic capital in shape of oil so they promoted industry in the state and gave alluring offers to the businessmen and investors who brought investment in the city. The idea was to shift the burden of economy to other industries from oil so that all these things together could contribute in the UAE’s economy. The idea has paid off and today the total GDP of the UAE does not comprise on oil only but other things as well.

The tourism was also promoted in the country and real estate sector that came to the forth as an offshoot of these enticing business and tourism opportunities took the world by a storm. Realty sector in the country boomed during the latter half of the last decade and charmed the investors from all parts of the world. All these industries and businesses have jelled in together to make UAE one of the most exotic business states in the world and there is no doubt that they will only advance from here as the foundations of the economy are very strong courtesy excellent steps taken by the administration of all the emirates.