UAE REAL ESTATE: PROPERTIES AND PROJECTS

The UAE (United Arab Emirates) is a federation of seven emirates located on the Arabian Peninsula. The Persian Gulf borders the region to the north, Saudi Arabia to the south as well as west and Oman to the east. The seven sheikhdoms were previously referred to as the “ Trucial States” Six of these emirates namely, Abu Dhabi, Dubai, Sharjah, Umm al-Qaiwain, Ajman and Fujairah consented to the formation of a Federal Constitution to achieve independence as the United Arab Emirates in the July of 1971. The UAE finally gained golden independence on 2 December 1971. The federation was joined by the only remaining sheikhdom, Ras Al Khaimahin on 10 February 1972.

As far as UAE’s real estate market is concerned, the medium-term scenario for the UAE economy is pretty positive. Substantial growth has been noted in the tourism and entertainment sector of the UAE. The emergence of various tourist attractions during 2016 contributes to the currently flourishing real estate market of UAE. Some of these tourist attractions are Dubai Parks and Resorts, Dubai Opera, Yas, and Saadiyat Islands and much more.

Since a large number of real estate investors, builders and developers are making conscious efforts to expand their profiles, the education sector is thriving in the present times. This sector has garnered the attention of many aspiring real estate investors and builders due to its consistent public demand, the possibility of handsome financial returns and the incorporation of government policies in this sector.

With a yearly inflation increase of 2.1% for the first decade of months of the year, Abu Dhabi is experiencing a rise in the cost of living since 2016. The government’s diversification plan has been followed by the addition of a new fee of 3% of rent as a fixed amount to the utility bill of any household. There are several real estate opportunities in UAE.