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.

Expats Prefer Sharing Apartments in Dubai

The city of Dubai can be called as unique in many regards but the thing that makes it stand out among all the cities is that the expat population in Dubai is far more than its local population. According to the estimates 83% of its total resident population is from other parts of the world and the biggest community is from India. The Pakistanis come second and not far behind are the Bengalis and Sri Lankans. All these people come here to find jobs and that is why apartments for rent in Dubai are always in demand. The expat population is increasing day-by-day and the demand is also directly proportional to this influx of people.

One of the major issues that the expats in the city normally have is that they live without families here. Their families live in the home countries and the reason behind that is that the city is quite expensive and keeping the family along with them is an expensive thing to do. With families back home, they can earn enough for themselves and because of fewer expenses in the home countries that are normally the South Asian countries, the families can live with a respectable standard of life. On the other hand the person living in Dubai city gets more time for work as he does not have to look after the family and thus can earn more.

According to the experts at Bayut.com, the expatriates who live here in Dubai are better off sharing their apartments with friends or colleagues. The reason for that is quite simple. It is extremely difficult to manage the home without a partner while the colleagues normally have same issues and same interests, so they can develop a better understanding with each other. At the same time, by sharing rooms, they share the rent as well which can be quite expensive while living alone. The Dubai rent section is widely used by the users which shows the trend in the market as well.

Auction at DLD couldn’t get any bidders for Dubai Marina apartment

An apartment was sold in an auction at the Dubai Land Department (DLD) by the owner and the news have it that it was sold at quite a handsome price by the sellers. The auction took place on Wednesday.

The Downtown Dubai apartment, located in Reehan 1 was sold for AED 1.39 million and covers an area of 76.74 sq. m. AED 700,000 was set as the base price but the auction went high enough that the owner went home with heavy pockets.

In other auctions one signature villa was sold from The Palm Jumeirah Islands and it was worth AED 21.1 million while the agents quote the prices of villas of similar kind at around 25 million. One apartment was sold in Jumeirah Beach Residence at a price of AED 1.54 million while an apartment in Al Dhafrah, Tannyah, Third was sold for AED 1.12 million and this one covered an area of 101.7 square meters.

Unfortunately a 192.88 square meter apartment from Dubai Marina did not get any bidders. The apartment is located in The Zen tower and the base price was set to be AED 1.76 million but couldn’t attract the bidders’ attention. Sources told Bayut that the DLD is planning to hold the final auction of this year on the 26^th of December.

UAE – A Place that Offers Great Recreation

United Arab Emirates is the center of attention throughout the world and not just for its business activities but the tourists’ charms as well. Normally, when one who has never visited the UAE thinks of this country imagines only the mesmerizing structures that this country has. But it is not about the buildings and the structures and in fact it is about the people who live here and live here because of the love that they have for this country for everything that this country has given them. No doubt, any country is made by the people that it has and certainly one of the biggest advantages that this country has is that the people living in it are prosperous and happy.

This has been possible only because the country has vast resources that it lends out to the general public and they have made full out of it. The employees in the UAE make quite well an earning for themselves and even the expatriates who come here for the sake of jobs and earnings are very loyal to the country. The country gives them a lot to cheer about besides the excellent living conditions and one such example is of the festivals that the most famous city of the UAE i.e. Dubai holds throughout the year. Scores of festivals are held in the city including the celebrated Spring Shopping Festival that is held every year during the months of March and April.

Businessmen from all parts of the world come to the UAE for taking part in these festivals as shopping-lovers from all over the world come here and love doing shopping in this fantastic environment. The football and other sports events are also regularly held in the country and for the past few years, as the security conditions in the brotherly country of Pakistan are not up to the mark Pakistan has hosted several of its home Cricket series in the UAE. This has not only allowed Pakistan Cricket to grow and survive during these tough times at home but also has helped the UAE as well as such events definitely generate revenue for the country. All these attractions jell in together to make the UAE one of the most charming places on Earth and it certainly has charmed hundreds of thousands of people to its land over the years.

Dubai Marina Allures the Investors and Tourists

People love luxury and if that is true, they have to visit one of the most exciting places in the world that is Dubai. Dubai has certainly some of the best places in it that can fulfill the need for luxury and certainly Dubai Marina Apartments are an example of such magnificent structures that this place has. It is undoubtedly one of those places that simply can’t be overlooked because of the mesmerizing looks and extra-ordinary amenities that it offers to those who come here for living or for the sake of visiting this magical Dubai City. It can safely be said that there can hardly be a place on the planet that can match the quality of Dubai Marina.

Dubai Marina has been developed in a special structure where the sea has been artificially given a way to enter the society with an artificial bay and this makes the society a wonderful place to live in. The bridges and the lakes in Dubai Marina make the visitor to look at it with wide-open eyes as the spectacular beauty of the place can surprise anyone. The roads and the bridges have been carved in a way that all the buildings have marina view and this allows the property prices all over Dubai Marina to be stable and almost uniform. The towers that have been built in this city bring in more investors and businessmen as the businessmen love luxury living and Dubai Marina provides them exactly with that.

The hotels and restaurants in the society attract scores of people from all parts of the city because dining is absolutely fun here while the shopping malls and beaches allow the fun-lovers to have a great time in Dubai Marina. At the same time, there are commercial properties for the offices and studios which allure the business community to move to this place as residents as well because an excellent commercial property close to their home in a mesmerizing locality is something that anybody would dream of. No doubt, there are other fabulous property projects in Dubai real estate but Dubai Marina is surely the crown of this stunning city.

Emaar and Dubai Holdings to build Mohammed Bin Rashid City

Dubai still has the capacity to fund all the projects that have been announced and does not need to look for foreign investors for the funding of these projects. It was revealed by the Dubai Economic Council’s head who went on to say that by funding the projects itself, Dubai gets rid of the need to find foreign investors to fund its projects.

Hain Al Hamli who is the Secretary General of Dubai Economic Council (DEC) said that despite there were a few projects that were force closed during the recession after 2008, Dubai can easily access funds to develop these new projects that have been announced.

Mohammed Bin Rashid City which was announced last week by Sheikh Mohammed bin Rashid Al Maktoum who told that there would be a theme park for Universal Studios, a complex that will be having a hundred hotels and will also make the world’s biggest shopping mall till date in it. He told that the mega project will be held by Dubai Holding and Emaar Properties.

A plan to develop a complex of theme parks worth AED 10 billion was also revealed by Al Hamli and told that Dubai will find resources to finance this project though he did not reveal where the funds will come from.  He also said that Dubai has neighbors that are very rich in natural resources and Dubai too, is a part of the United Arab Emirates.

Dubai had to get a bailout from Abu Dhabi of 10 billion US dollars in 2008 as well when the property prices suddenly fell down due to the international recession and it had to close several projects as well due to lack of funds. But one of the officials in Abu Dhabi government told that a few companies in Abu Dhabi will be a part of this magnanimous development.

Al Hamli was quite clear about the practicability of the project and he also said that Emaar Properties and Dubai Holdings do have a clear agenda when they announce something. And there should not be any issues regarding the project financing at good interest rates as the companies are related to the government.

UAE and its Fantastic Amenities Allure the Expatriates

United Arab Emirates is a place that offers business to all and the best part about this city is that despite scores of ethnicities living in it, the state’s environment has been very serene and the only reason behind that is the law and order of the state. Credit must be given to the administration of the state for being very clear about the justice system of the city that is quick and also for everyone. There is no doubt that the state is working hard on this and the real estate sector is also quite efficient in this regard as they are extremely careful about this highly sensitive issues that is the protection of life and wealth of the people living here. Almost every society has special systems for security purposes while the state machinery also helps all of them.

It is also important to note that the state has been very caring regarding its residents and though it has had some border disputes with neighboring countries yet it never went for an all out conflict and resorted to diplomatic means for this sake. Even at that level, it had to give away a bit of its land but keeping the welfare of the public in focus, UAE administration has avoided all sorts of conflicts with the neighboring states and as a result it enjoys cordial relations with all the neighboring countries that include Kingdom of Saudi Arabia, Oman and Iran. Though the UAE does not share border with Iran but they are separated by a very narrow stream of the Persian Gulf and thus they can be called as neighbors.

The excellent conditions for promotion and expansion of business in this country and extensive job opportunities are main requirements for the welfare of the public in any country and certainly the United Arab Emirates has been one such place for the past few decades. There are scores of expats living in this country and according to some estimates more than 80% of the population of the state of Dubai is based on foreigners and it shows how attractive this place is for the world. It gives tremendous amount of opportunities and at the same time offers the best of amenities that are there in the world making this country one of the most advanced, progressive and peaceful countries among the comity of nations around the globe.