In terms of economics, an investment is the purchase of goods that are used in the future to incur profit or wealth. An asset is purchased with the idea that it will provide sources of lucrative income in the years to come or would be profit-based. Among many other global cities today, Dubai has been a land of dreams and a paradise for all investors. The city attracts various investors from all around the world for phenomenal opportunities that it offers. Dubai is a favorite among investors when it comes to real estate and one of the biggest benefits of investing in real estate in Dubai is because the economy of this innovative city has been growing at a rapid pace.
Top reasons to invest in Dubai
There are many reasons that an investor should consider Dubai as a potential destination for profitable modes of investment. Being engulfed by architectural marvels, Dubai hasn’t disappointed residents who are seeking out profitable investment opportunities. Let us now look and examine some of the key aspects involved when it comes to property investments in Dubai.
The next global real estate exhibition to be launched in Dubai in 2020:
Dubai is hosting the next World Expo in October 2020. The Expo which will be taking place in Dubai may attract approximately 25 million visitors from 180 nations. The announcement of the Expo in Dubai has boosted the property sector to new levels. The Expo will continue for six months which is destined to cater to diverse needs and requirements raised by potential investors. The rental demand will be comparatively high, enabling landlords the flexibility to increase rents.
Dubai seeks to become the happiest city in the world:
Dubai created the Ministry of Happiness in 2016. The primary duty of this ministry is to develop programmers and policies to improve the happiness levels of Dubai’s residents. With fabulous social infrastructures like roads, bridges and stunning fly-overs, residents are sure to gather upon property investment opportunity that is completely eco-friendly in nature.
High return on investment:
Dubai’s real estate market is maturing as the city’s population is increasing each year. Many investors are wisely purchasing property to supply the boost in rent demand. With rising infrastructure marvels established in some of the reputed locations, the overall land appreciation rates increase at a phenomenal rate. This is an added advantage for potential investors as they can invest as early as possible for an uncertain future.
Dubai’s tourism industry is booming:
Dubai’s economy incorporates tourism along with other industries. Dubai’s tourism industry has grown a lot due to the construction of new hotels and real estate projects. Non-residents of Dubai have time and again capitalized on opportunities that the location offers. Multiple cultural and environmental-based festivals are organized that has continuously gathered residents from all around the globe. Revenue is continuously generated which has now paved the way for even more stunning architectures for overall land development.
The Museum of the Future:
The Museum allows visitors to experience the future through simulations and interactive exhibits. The museum will include scientific conferences and offer advanced courses on new scientific achievements and trends. The museum will also focus on solutions to the top three challenges emerging from climate change: water supply, food security, and self-sufficient cities. Dubai has epitomized the concept of climate change in their own way. The way builders at Dubai have gone about with their constructions, is best, to say the least, which results in minimal damage to the environment.
Superior Transportation Routes:
Dubai is continuously advancing its transportation infrastructure. The US-based Hyperloop One is creating an expedited transportation route between Dubai and Abu Dhabi. Hyperloop One prepares to launch the world’s first operational Hyperloop system, allowing passengers to travel between the emirates in pods at 1,200 km’s per hour. The project’s goal is to provide transportation from Dubai to Abu Dhabi in 12 minutes. It is estimated that approximately 4,000 vehicles commute daily from Abu Dhabi to Dubai. This would not only stabilize the environment, it would also set an ecological balance.
No annual property taxes:
Investing in Dubai’s real estate market is tax-free. Purchasing a commercial or residential property will not include taxes. Once the property is purchased, owners will not be obliged to pay additional taxes in the future. Residents, because of this can now save up on extra expenses and plan on alternate properties for investment.