AED 2 550 000

(USD 698 630)

1 bedroom apartment in Azure Residences Palm Jumeirah

AED 5 800 000

(USD 1 589 041)

5 bedroom villa in ARY Marina View Dubai Marina

AED 1 350 000

(USD 369 863)

1 bedroom apartment The Point Tower Dubai Marina

AED 1 150 000

(USD 315 068)

1 bedroom apartment in Bay Central Dubai Marina

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Why Dubai?

 

Among the Persian Gulf region states a group of oil exporting countries stands out, which, by using resource factor in their development, have gained considerable economical success. Among them the United Arab Emirates are to be distinguished – the country, which, facing numerous problems, managed to considerably supersede not only other countries of the region, but also many of the developed European countries by a number of social and economical indicators. An important feature of the UAE economics on the modern stage of its development is using income from oil not only for the purpose of national manufacturing diversification, but also for turning the country into a big international service center, first of all, in the finance and credit and the tourism areas. The UAE nowadays present one of the most socially successful countries in the Middle East, which managed to use oil-related income in a rational way. That is why consideration of the UAE reorganization, their using of oil factor related income for the purpose of conversion from conventional economics type, based on natural resource rent, to the modern one, specializing in manufacture and export of finished products, is actual not only for the Arab Emirates, but also for a number of other resource exporting countries including Russia. Unlike Russia, Iran and other oil producing and resource exporting countries, it is really easy to see, what petrodollars are being spent on here. Dubai is the capital of one of the seven UAE emirates, which has turned display of its fabulous wealth into profitable business; it is a legendary, diverse city. On the one hand, it is the financial capital of the South Asia and the Middle East, the most dynamically developing planet region and a trade center, attractive for investments. On the other hand, Dubai is famous for its striking luxury, high society venues and passion for grand-scale projects: it is Dubai where everything the most expensive, high and grand-scale is to be found. The United Arab Emirates are rated as the second richest country of the Arab world. Qatar holds the leading position, Mauritania is the poorest one. Among all the Middle East countries, the United Arab Emirates are the most famous “oil luxury” embodiment, expressed, firstly, in grand-scale building of various projects, each of which stands out for its uniqueness. The “too much” concept is actualized here to the maximum: unbelievable 160-meter-long yachts, the world highest building - Burj Khalifa, the most expensive hotels: Atlantis, The Palm and Burj Al Arab, and, of course, The Palm Jumeirah, named the 8th Wonder of the World. Dubai is the world third important export and re-export center, after Hong Kong and Singapore. Dubai is s city with the policy of independence from taxation and bureaucracy. Such policy facilitated its rush development and made Dubai a dream city for businessmen. The United Arab Emirates offer unique opportunities for foreign investors, interested in making profitable investments and rapidly multiply their funds. According to the latest report from the International Institute for Management Development in Switzerland, the Arab Emirates level of financial efficiency policy is rated as the world’s highest one, leaving behind economical systems of Britain, France, Japan and China. The government conducts massive investments in engineering and transport communications, tourism, recreation and entertainment infrastructure, as well as in creation of comfortable conditions for business run by foreign companies. Free economic areas, linked to the biggest transport nodal points, play the key role in foreign investments attraction to the UAE. Complete liberation from customs duties and taxes is an important component of the UAE free areas success. The "Dubai Airport Free Zone" (DAFZA) free economic area was rated as the world best one in 2012. It headed the Global Free Zone Rankings rating list, presented by the Foreign Direct Investment Magazine business journal published by The Financial Times. The rating reflects DAFZA ability to attract foreign investments into the region, as well as its strong position of a fast-growing business center in the Middle East. Jebel Ali Free Zone (JAFZA), founded in 1985, is nowadays one of the biggest and the fastest-growing FEA in the world. The UAE free economic areas are, firstly, big centers of business concentrations, which are run by companies registered in the UAE FEA. This involves transnational companied, having founded their headquarters  for maintaining their expansion in the region. As they work in tens of countries, they are faced with the head office choice necessity. Microsoft, Dell, Cisco, Citibank, Canon, Reuters, Siemens and hundreds of other big companied decided to settle down in Dubai. Now the city benefits from the effect of an established business and financial center: new companies now come to Dubai not only because of the city well-developed business infrastructure. Purchase of a real estate item in the UAE provides additional opportunities for running business of different level. One of the reasons for this is that Dubai is a perfect strategical location, on the intersection of trade ways between the East and the West, from which any destination is accessible. More than 78% of non-rough products are exported from the UAE. Moreover, businessmen are attracted by liberal legislation and progressive government assistance, absence of currency control, developed infrastructure, up-to-date bank system, economical stability, favorable life conditions including well developed education and healthcare systems. The World Justice Project independent organization published another rating list, “Rule of Law Index” which enlists the countries, to maximum extent corresponding to the “constitutional state” concept. According to its results, the United Arab Emirates are rated the 5th in the world in terms of order and safety. Rating list creators evaluated 97 countries by eight indicators. Advantages of the UAE strategy also include: fastest possible economical activity shift from the base material sector to the non-rough one due to active state economical policy; private-state partnership and prevention of market disorderliness by means of management via holding state-involving companies; creation of the best life conditions for the UAE citizens, who are paid salary comparable to the salary level in economically developed countries. The principal aim of the government policy is to create diversified manufacture, which would decrease dependence of the UAE economics on oil delivery into the world market. Nowadays oil and natural gas related income constitute less than 6% of gross domestic product in the emirate. According to the experts’ opinion, the first reason for this is the state government policy and strict financial discipline. According to the basic competitiveness indicators of countries in the world economics, reproduced in corresponding World Economic Forum and the World Bank indexes of business running efficiency in 2012, the UAE is rated the 5th in the world and the1st – among Arab countries, and in general in terms of global competitiveness level in 2011 the UAE are rated as the 27th in the world. For a number of other indicators of global competitiveness, the UAE were included in the world top-ten in 2011. Among the world top-ten countries they are rated as the world’s 3rd safest and most stable state (which, definitely, influences conditions for entrepreneur activities), the world’s 4th best quality of air transport infrastructure, the world’s 5th best efficiency of public finances management, adoption of new technologies in management, the world’s 7th best by the simplicity of customs procedures. Moreover, the level of confidence to the government is rather high - 78%. Dubai, according to the "Mercer" rating list, has become the city with the highest life quality level in the Middle East. The list was compiled according to results of annual investigation involving 215 world cities. The United Arab Emirates keep maintaining leading positions in the rating list of countries with the highest social and economical development level. The UAE modernization model, with all its specificity, remains a sort of model for the Arab world, particularly after the recently observed nonviability of Tunisian and Egyptian economical development models during the “Arab Spring”. As the UAE modernization is a variant of Arab economics joining the global world economy, taking as example the economical policy of the UAE, this process is concentrated on increasing economy competitiveness, with economical structure consistent diversification as the basis for modernization. In the governmental development program by 2015 “Development strategy of Dubai” it is highlighted that economical diversification is the main strategical goal. The main diversification areas include: build-up of knowledge economics, providing various services, consolidation Dubai leading status in the tourism area, its financial and business center status, as well as an important player position in the real estate market. Nowadays, the United Arab Emirates are a developed state with strong economical and political activity, attracting a huge amount of investors. During recent years Dubai real estate has been the most attractive capital investment. The peculiarity of Dubai real estate is the volume of investments involved, a great deal of which is foreign capital. Dubai real estate is a highly profitable investment tool. Among a great deal of advantages of safety of real estate as an investment tool is the fact, that the proprietor can be in charge of assets and does not need intermediaries, like for instance, during bank products management, which is of great importance. There is a number of ways enabling to secure capital and make it work. These problems can be solved in the most civilized and safe way by investments in real estate, which is the safest way to protect capital, meanwhile, gaining profit. In the conditions of crisis, currency instability and fall of stocks in the stock exchange, real estate is the most stable investment medium. Thus, safe capital investment is the incentive for anyone who can afford it. The government of Dubai supports improvement of foreign investments and offers the most profitable conditions for financial investment: efficient bank system, safety of all the procedures, zero currency risk, absence of currency exchange regulations, strict confidence for investors, immunity from taxation, free economic area and offshore companies, transparent legislation, rights equality for local and foreign investors, economical and political stability. Despite the world financial crisis, Dubai remains an oasis of stability. This is the country with varied opportunities and optimistic development prospective. This is why real estate in Dubai is especially attractive investment sites. The majority of building projects in Dubai performed as profitable ones even in conditions of the world financial crisis.

Heightened investment attractiveness for purchasers of real estate in Dubai is determined by a range of factors:

-Statutory total title for foreigners – freehold, developed legislation, state warrantees, simple and transparent process of purchase and sale transactions preparation. According to Section 4, Chapter 2, Law № (26) relative to real estate registration in Dubai emirate, signed by His Highness Sheikh Mohammed bin Rashid Al Maktoum on 14th March, 2006, the residents of any states not relating to the UAE or different from states of Gulf Cooperation Council, can become holders of the absolute real estate title. Foreign citizens hold the right to purchase real estate in Dubai, in the areas indicated by the law, on conditions of freehold. The list of areas related to freehold, is established by Dubai Sovereign Decree №3 (2006). They include such popular regions as Dubai Marina, Jumeirah Beach Residence, The Palm Jumeirah, Emirates Living, Jumeirah Lakes Towers, Downtown Dubai and other ones. This form of ownership stipulates possibility of real estate free sale, leasing, feofment and inheritance. Generally, this is the most all-including form of private property. The proprietor totally owns estate and the buildings referred. He has a right to occupy, use and own his property either forever or until transferring the title ownership to a new proprietor, and his heirs are entitled to inherit his title. According to the rating list of the real estate area transparency index, published by Jones Lang LaSalle Company, the real estate market of Dubai (the UAE) still remains the most transparent in the Middle East and Northern Africa (Mena). According to the opinion of Jones Lang LaSalle Company specialists, Dubai leading position in the regional rating list was provided mainly by organizations, licensing and controlling activity of the real estate market, particularly, Dubai RERA (Real Estate Regulatory Authority) and Dubai International Financial Center.


 -Possibility of assets diversification by means of real estate acquisition in one of the fastest developing and safe corners of the world, having good prospective of cost growth. Money is invested in Dubai real estate not only for the purpose of acquisition of high-grade real estate, but also in reliance on investment opportunities. Real estate cost is prone to changes to a much less extent than share cost and provides profit not only from capital value growth, but also from leasing. Dubai commercial and residential real estate has always been of peculiar financial interest and has been more highly valued, as business is developing actively and dynamically in Dubai.

-Stable pure annual revenue from legal leasing. Recently registered increase in demand for residential real estate for lease in the real estate market of Dubai (the UAE) is the reason why more and more investors, who are going to benefit from investments in real estate, prefer to purchase real estate here. Nowadays apartment rent in Dubai is the most popular and demanded service in the real estate market. There is year round demand for rent in Dubai, unlike in Cyprus, Spain, Italy, Bulgaria, etc. The UAE economics is rather peculiar, as 90% of people working there are foreign specialists. But not anyone who wishes can afford to buy own accommodation in Dubai, thus the demand for real estate for rent for permanent residence is very developed here. Dubai is a perfect vacation destination for successful people, thus lots of families rent apartment when they set off on vacation to Dubai for the whole winter season. According to the data presented in one of researches conducted by Reidin information agency, recoupment of residential real estate in Dubai is higher today even than the recoupment of central London real estate. Residential real estate in popular projects is highly demanded, and the level of income from leasing of real in the UAE is higher than in many of the world cities popular as real estate investments. All the relations between landlords and lessees in Dubai are governed according to the law «Law № (26) of 2007.

-Thoroughly worked out design of housing estate and surrounding landscape. Real estate owners acquire not only architecture of high quality and convenient layout, but also a worthy infrastructure with recreation territory, which is the result of labor of the best European designers. Residential projects infrastructure in Dubai includes trade and entertainment items and sport and health clubs, including the ones for children, as well as green zones - boulevards and parks, the majority of the projects have such facilities as swimming pools, gyms, health complexes, beach clubs, office blocks, tennis courts, playgrounds, kindergartens and nurseries, round-the-clock security etc. Projects infrastructure can also include rather peculiar items, such as seascape for yacht owners. Breakwaters, located nearby, hypermarkets, day spas, and golf fields make the life of housing estate dwellers comfortable and pleasant. The coastal residential complexes’ everpresent advantages and prestige factors include sea view from apartment windows, a private beach, a yacht club or a moorage. Dubai residential real estate items are commissioned with finishing work, including full range of facilities such as bathroom equipment, kitchen furniture and built-in household appliances. All the buildings obligatorily have guarded parking areas for dwellers.


 -Low cost of real estate ownership. In the United Arab Emirates there is no property tax or income tax. Thus, owning real estate in Dubai, as well as gaining profit, for instance, from its leasing, does not cause any tax consequences for the proprietor within the UAE jurisdiction. Meanwhile, it is necessary to realize that the real estate owner is responsible for its proper maintenance and is obliged to pay maintenance fees (i.e. Maintenance Fees or Service Charges), set by residential real estate management company or owners' association (if the one is already established). As a rule, such payment is collected annually one year in advance and constitute for Dubai, depending on the project, about 20 to 80 dollars per square meter a year. The Strata Law enlists the rules, determining management regulation and responsibility of landlords and developers of joint use real estate (the legal act’s formally accepted name is “Law № (27) of 2007 on ownership of jointly owned properties in the Emirate of Dubai”. On 7th February, 2009, Dubai Real Estate Supervision Board (RERA) prohibited the emirate’s developers to increase maintenance fees without proper permission. The current Real Estate Supervision Board regulations and transparent developer-purchaser relations, also facilitate confidence of foreign investors to the Arab Emirates real estate sector.

-Confidence of transactions, confidence of personal data, bank deposits and acquired property for third parties. Indisputably, this is an immense advantage for the dwellers of regions with expropriation risk, where the assets can be frozen, arrested or even disappear, for instance, during economic crisis. Furthermore, the majority of the offshore jurisdictions provide beneficiaries with complete confidence, i.e. address directly to the company owners benefiting from its activity. Are there such people who would not like to protect their material assets from any financial or political threats? The authorities of Dubai have created exceptionally favorable environment to provide successful activity of foreign entrepreneurs and investors. Dubai taxation policy is aimed at money attracting, which is in the majority of cases big money. One of Dubai peculiarities is presence of free economic areas (FEA), perfect for business taxation policy, absence of currency control, absence of currency risks, transparent legislation, developed transport infrastructure and perfectly built logistic system. Business setting up in the UAE in a free economic area enables you to have a full-fledged resident corporate person in the UAE, possessing all range of offshore company rights. Unlike many offshore centers, Dubai has never been “blacklisted" by FATF and Organization for Economic Cooperation. It is highly prestigious to run a business in Dubai! The world best patterns, which are to be found in economically developed countries, were taken as basic ones, enhanced by such an advantage as absence of taxation. Due to absence of taxation, the entrepreneur has no point in the double-entry book-keeping, there is no need to prepare different reports, it is possible to simply run business. The imported goods are liable to only 5% customs duty, and during re-exportation, customs duties are not even mentioned. In the Emirates, there is political and economical stability, enabling to build plans for a few years in advance, without expecting unpleasant surprises from the state. Liberal laws and assistance of progressive government with clear vision of Dubai development strategy, provide favorable conditions for business development. According to the report, prepared jointly by World Bank Group, world biggest international enterprises network offering professional consulting and audit services, PricewaterhouseCoopers (PwC) and International Finance Corporation, the taxation system of the United Arab Emirates is one of the most attractive ones for business and is rated as the 4th best one in the world.


-Property ownership in a popular business and tourism world center with well-developed infrastructure. Dubai is the principal regional commercial center with unsurpassed infrastructure and high-grade business environment. This is a city with intersection of ways to Europe, Africa and Asia, this makes Dubai the basis for the biggest trade centre in the whole Middle East. The UAE transport infrastructure is considered unsurpassed in the region by size, level of comfort and efficiency. According to Global Enabling Trade Report 2012, published by the WEF, the UAE were recognized the first in the Middle East region and the world’s 11th in quality and accessibility of transport infrastructure. Besides, the country is rated as the 4th in the world in quality of air-transport infrastructure, the 6th – in sea ports infrastructure and the 7th - in transit traffic reporting. Thus, for instance, Jebel Ali Port of the Jebel Ali Free Zone (JAFZA) is a flag port of DP World Company. DP World Company is one of the world’s biggest marine cargo operators. Regarding the results of the first six months of 2012, the goods turnover of more than 60 DP World port terminals increased by 7,5% - up to 28,2 million containers in the equivalent 20-feet amount (TEU). According to the operator’s report, the high rates were caused by expansion of terminals in Asia-Pacific Region by 12,1% - up to 13,3 million containers. Turnover of DP World terminals, located in Europe, in the Middle East and in Africa, increased in the first half year in total by 3,2%, reaching 11,6 million containers. Meanwhile, more than half of them (6,6 million containers) were processed in the emirate Jebel Ali Port, which reached beyond rates for the identical period a year before by 7,3%. Jebel Ali Free Zone - Jafza, as well as other FEA, offers foreign companies an opportunity of possessing 100% of their company without local sponsors, 0% corporate tax for 50 years, absence of limitations on capital transfer and company income, 0% customs expenditures (import, re-export), 0% income duty, absence of currency limitations and limitations concerning employment of foreigners. Unprecedented luxury and capital inflow provided Dubai with “Arab Cote d'-Azur “status: secular life is really in full swing here. This is a nouveau riche city, which streets are filled with Ferrari, Porsche and Lamborghini, and night clubs – with London’s best DJs. This is the city which was given high praise by Donald Trump being pernickety about living conditions and where it is possible to win an apartment worth half a million dollars in a lottery in a trade center brand clothes sale. Dubai gathers all the world elite on blissful events of high society within the bounds of prestigious shows, tournaments and championships – such as Dubai Tennis Open, Dubai Desert Classic golf tournament, the main event in the equine world - Dubai World Cup with multimillion prize funds, Dubai Helishow, Dubai International Boat Show, the famous rugby tournament Dubai Rugby Sevens.


 -Possibility of resident visa preparation enabling permanent residence in the UAE. According to the federal UAE legislation, landlords are entitled to obtaining visa at the cost of equal to or higher than 1 million dirham UAE (approximately: $1 = 3.6725). If the real estate item cost is lower, it is impossible to obtain visa for the reason of owning real estate property in the Emirates. In this case for permanent residence you can register your own company, get employed by some local company, enter a local educational institution or obtain family visa from an immediate relative owing resident status. If your property legally belongs to an offshore company, you (as well as your family members or partners) can own company stocks in accordance with tenancy in common or on the basis of preference. Your name (physical person) will be replaced with the company name (corporate person) in the Title Deed. This is the easiest way for joint investment, furthermore adding confidence to tenure.


-The United Arab Emirates currency is dirham (AED). On 28th January, 1978 dirham was officially indexed in reference to special drawing rights (SDR) of the International Currencies Fund, but actually has almost always stayed attached to the US dollar. Since November 1997 dirham was indexed in reference to the US dollar at the rate of 1 $ = 3.6725 dirham. Since that moment the official rate of the UAE dirham to dollar has hardly changed, which enables to build long-term plans and to a large extent to avoid currency risks.
 -Positive forecast concerning the real estate market development is determined by:
  -state programs for real economy refinancing
 -demographic tendencies
 -multibillion investments in Dubai tourism, recreation and entertainment infrastructure
 -absence of currency control
 -presence of leading international companies
 -creation of comfortable conditions for running business by foreign companies
 -absence of taxation
 -presence of FEA and offshore companies
Active measures on development of education, healthcare, residential real estate building, international trade, transport and communication are being taken in the country. Economical indicators display superiority of the Arab Emirates in many areas in comparison with other developed countries. All these factors enable to believe that Dubai and its real estate market have good lasting development prospective.


-In Dubai it is possible to find the feeling of personal and financial security. Dubai, according to the "Mercer" rating list, is now the city with the highest life quality in the Middle East. The list was compiled according to results of annual investigation involving 215 world cities. Evaluation was done on basis of political and social environment data, economical indicators, presence of definite restrictions (such as censorship), quality of healthcare system, education system, real estate availability and cost, cultural life, climate and susceptibility of one or another city to natural disasters. Dubai, which symbolizes economical success, strikes with grand-scale projects and innovations and offers absolutely new comfort level. Indoor capsule-shaped bus stops in Dubai matching futuristic look of streets, have no analogues in the world, with built-in air conditioners, cooling them in the summer heat, provided with Wi-Fi. Dubai taxi is obliged to be equipped with an air conditioner, and taxis themselves run round-the-clock. The United Arab Emirates and Dubai, particularly, are well-known for high level of personal safety and social stability. You won’t have to worry if you have not locked the car or have left a bag in a cafe, etc. In the time of global instability and continuously growing spree of mess in the world, the Emirates still remain an island of high life quality, stability and safety. According to the MasterCard data, the consumers’ confidence index in the second biggest Arab economics keeps growing and remains the world’s 6th one, having reached 108 points in the second quarter of the current year (3 points more in comparison with the first quarter of 2012). Dubai is famous not only for impressive amount of local sheikhs and visiting oligarchs as well as designer projects (it is Dubai where Roberto Cavalli and Giorgio Armani have opened their most ambitious clubs and hotels), but also for its “continental” quality. Among regular city guests Zinedine Zidane, Justin Timberlake and many other celebrities having luxurious apartments and villas in Dubai are to be met. Being in Dubai, you realize how comfortable and safe it is here. This is facilitated by political stability, safety, favorable investment climate, absence of taxation and limitations on capital movement.

 -Comfortable sunny climate and warm sea create conditions for comfortable year round residence. The developed recreation and entertainment industry enables to use the acquired real estate for proper rest. The sky above the United Arab Emirates is invariably blue, and the sea is perfect for sailing, water skiing and diving. The weather in the city is particularly favorable in spring, autumn and winter, there is hardly any rain all the year round. If you used to go on vacation with your family to the beaches abroad as tourists, now you can acquire your own residential real estate by the sea. Apartment by the sea is a good alternative (or addition) for country house! A couple of hours on the plane – and you are in your house again, located on the seashore.

 Dubai is one of the richest cities in the world, located on the “crossroads” of Europe, Asia and Africa. Dubai is a real masterpiece of modern architecture, the oasis city in dessert. Dubai is a city, which has staked not on exotism, but on new technologies and investments. This is where the highest skyscrapers are to be found, each of which is an exclusive designer project. Luxurious hotels with "stardom" beyond the limit. Trade centers, competing in famous brands assortment breadth. The result of these economical achievements is Dubai – the created city having no world analogs, and from day to day it is impetuously growing and developing, becoming the richest world center. The primary goal of the governing family of Dubai is to turn the city into the most up-to-date world city, the center of world tourism, new technologies and financial wealth. Dubai government has set a goal to create high-grade social and economical infrastructure, able to provide the emirate with wealth and high life level for further generations. What are the consequences of the UAE growth strategy, as exemplified by Dubai? The UAE is now a market, attractive for foreign investors as a world center of commercial activity and tourism. The Arab Emirates is a country with big prospective and impressive dynamics of development, which strikes the whole world with its progress. More and more wealthy people prefer to buy real estate items in the UAE, choosing Dubai as a permanent residence and business running location. Probably, every sensible person wants to acquire reputable residential real estate abroad today as investments in real estate have always been considered of the first-priority and the most reliable ones. Growth of prices on residential real estate items is comparable by pace maybe to growth of prices on oil, which is, indisputably, a relevant argument.

 Acquisition of residential and commercial real estate items in dynamically developing country enables to make profitable capital investments with the guaranteed profitability level.
 
Investment in Dubai real estate – not only enables to provide comfortable life conditions in the country with everlasting summer, but also to save the capital invested in real estate at long date for you and your children.

There are plenty of reasons for acquisition real estate in Dubai; if you only think about your future for a moment, you will understand why so many people live in the Emirates.



Written by Strategic Technology Solutions