Dubai Is Global Hub

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Dubai Is Global Hub

Dubai has emerged as a global hub for real estate, attracting investors and professionals from around the world. The city’s transformation from a fishing village to a thriving metropolis has been remarkable, with ambitious construction projects like the world’s tallest building and man-made islands. Dubai’s real estate market has seen a significant increase in property sales transactions, with a 209% rise in the past 5 years. 

The city’s status as a global hub continues to strengthen due to its extensive connectivity, strong economic prospects, low tax system, and safe haven status, all of which are underpinned by world-class amenities and infrastructure. Dubai International Airport, the world’s largest airport by international traffic, recorded 83.7 million passengers in 2017, up 26% from 2014. The UAE’s quality of overall transport infrastructure is ranked 3rd best in the world. Dubai’s industry growth rate forecast of 57% is expected to outpace those of other major global cities. Dubai remains relatively affordable compared to other global hubs. For US$1 million, one can purchase 138 square meters of prime property in Dubai, compared to 19 square meters in Hong Kong, 25 square meters in New York, and 28 square meters in London. 

Dubai has remained attractive to investors and occupiers alike, with 217 nationalities purchasing real estate in the city in the 18 months to June 2017. As a global business and financial hub, Dubai attracts buyers with high purchasing power, but still lacks supply in high-end luxury properties. These buyers are used to higher prices in other cities around the world, creating a very dynamic and liquid market full of opportunities for investors.Dubai’s real estate market is poised for continued growth, driven by its status as a global hub for living and working, its world-class amenities and infrastructure, and its attractiveness to investors and professionals from around the world.

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