The opportunity in real estate Dubai offers an investor is more or less unmatched right now due to the growth which the city has been experiencing since the discovery of oil there in 1966. Growth is always an important factor is making property values go up. This growth is driven primarily, but not entirely, by the influx of foreign workers. Increasingly, as the local government diversifies the economy, the growth is coming from other forms of immigration and from the tourism business.
Much of the real estate investment in Dubai is in residential property. This comes in two distinct types. There is a great need to develop property to handle the need of living spaces for the many immigrant workers that come to Dubai from around the world. There is also a great drive to build high-quality residences and habitations to deal with the increase in tourism and the rising number of wealthy that choose to make their home in this city. Characterizing the latter is the condo hotel, one of many large structures that contain numerous condos, each of which is available for sale as a separate piece of real estate.
Considerable investment has been made in providing modern edifices to handle the various sports and other entertainments found in this city. The two most popular sports are cricket and football. This single city has five professional teams playing in these sports. Dubai also contains property developed for other sports, such as the Dubai Tennis Stadium. The city is making a bid for the 2020 Summer Olympics in an attempt to demonstrate the modernity of Dubai’s sports infrastructure. This will likely require an even greater investment into real estate Dubai.
Dubai has a modern public school system as well as a thriving market for private schools. As a consequence, there are 79 public schools and nearly 150 private academies in the city. As the population continues to grow, investment in property attractive for an academic institution represents another growing opportunity in Dubai.
Dubai only receives about six percent of its government revenues from oil at this point. This is a good sign for real estate investment, since it does not point toward a time when the city’s prosperity will run out as oil supplies do. Instead, investors should be able to count on steady growth and increasing real estate interest in this rapidly developing desert city for many years to come.