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Experts in the field of RealEstate
 
Vineet Kumar
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Residential Properties
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Article by Vineet Kumar...
2001-New era for the residents of Dubai
An interesting development in the choice of residential property has opened up a new era for the residents of Dubai. The advent of the 99 year lease that Emaar are able to offer with the Emirates Hills and Dubai Marina will surely bring new investment into the area.

Emirates Hills which offers plots of land surrounding a golf course and in the midst of superbly landscaped grounds is reflective of developments in other parts of the world. Golfing is growing in interest among those living in Dubai and generates a great deal of tourist traffic. A benefit to the region is also the bird life that has been attracted and when visiting Emirates Hills it is difficult to imagine that desert is just a few metres away. Those that buy in the development are able to enjoy privacy and an environment previously not available in Dubai.

Dubai Marina which offers apartments with sea or water views offers a location for those who do not want to have the upkeep of a garden but still appreciate the value of good living or indeed prefer apartment living. The owners of apartments may not see themselves living in Dubai throughout the year but use the property for holidays and weekends only. The influx of AGCC residents will further generate the need for more shops, restaurants and entertainment. In turn the amount of services required will be increased, more employment for the area created.

As people invest in property they are able to put roots down. Business will benefit and the growth of the region will follow. Many expatriates have previously commented that they needed to own their own property so that they could consider a place "home".

So what will come next. Perhaps we will have a new generation of people buying property when they are working and retaining it for their retirement. This will result in a requirement for a different type of entertainment to reflect the needs and wants of an older generation.

The issue then of what comes first, the property or the people. It is true that we have an oversupply of property at present but then opportunities are being created. Many Landlords are concerned about the situation but if more people come to Dubai and find that rents have softened they have more reason to invest. One person buying a property will result in others gaining employment and leasing the property for rent. Is Dubai the world's best kept secret, not any more, but is it a place of opportunity, most positively.

View all articles of expert Vineet Kumar


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