The success formula of Dubai real estate industry is pegged on several factors such as location, tourism, high return on investment among many others. Nonetheless, there were certain components that initiated and played a critical role in the creation and continuation of the current success.
At the beginning of the twenty-first century, it was evident that Dubai was gearing up for a major urban and infrastructure development. This led to the rapid growth of the real estate market in the city. The main reason for revamping the real estate was to create a positive environment for foreign investors who were settling in the city. Currently, it is one of the most promising markets in the world.
Here are the reasons why the Dubai real estate market is profitable
Planned Development
Most developments in Dubai are planned and follow a set time frame, such as the upcoming Arabian Ranches 3 Dubai. The planning of development makes the city more appealing to investors from around the world.
The preparation for the Dubai Expo 2020 is a perfect example of successful planning. Preparations for hosting this enormous event were started a few years back and are going on according to the plan. In fact, some of the projects have already been completed while others are in the final stages.
Infrastructure
As the developers are competing in the real estate market, the government is working hard to improve the infrastructure with the aim of creating a suitable environment for further growth. In the recent past, there has been a series of megaprojects that have been initiated. They include new road networks, expansion of the Dubai airport, the water canal, the Hyperloop, among others.
High Returns
On top of all these benefits, investors enjoy returns either through rental or investment returns. One of the most popular forms of investment in the real estate is off plan properties which guarantee a return on investment, such as Dubai Creek Harour projects.
Preferred Destination
Apart from economic and financial capabilities, Dubai attracts millions of visitors for too many reasons. For instance, the city hosts people from all over the world. In fact, over eighty percent of the city population is expatriates. Residents live in harmony since the city does not experience political tensions like other parts of the region