(PRWEB) January 19, 2005
Dubai's mission is to be the Hong Kong, Monaco and Orlando of the Middle East, the financial hub and the tourism and leisure destination that will outstrip anywhere else. Its geographical position in the world, where East meets West, means that it has access to a huge market covering Middle East, India, Pakistan, Central and Western Europe, Africa, and the Russian Federation etc.
Dubai has many natural advantages for UK investors Â including direct flights of less than 7 hours, relative safety and security, tax free shopping, no tax on income or capital, and of course the sunshine!
The property market here is expected to experience strong demand and growth from indigenous as well as external investors. Factors driving this continued demand include:
- Government backing for large scale tourism-related projects
- Restrictions on foreign-owned property being lifted
- Freehold ownership being legally instituted shortly
- No tax on capital and income
- A high standard of living in a stable economic climate, all year round sunshine
- A residency visa available to buyers when a property is purchased
The governmentÂs growth forecasts are that visitor numbers to Dubai will grow from 5 million to 15 million by 2010. Within this exciting growth market is a project called International City.
It is a new development within Dubai, located just 12 km from the Dubai International Airport, set within 800 hectares, which will reflect the varied styles of world architectures, including Italy, Spain, Russia, Morocco, Persia, Greece, France, Thailand Indonesia, China and England. In all, the residential development features 21,000 expertly planned yet affordable studio and one bed apartments that will become home to 60,000 residents.
The development also features an exciting blend of leisure, retail and business developments, including exhibition halls, such as the Dragon Mart and Dubai Gate, and Central District commercial area, as well as schools and hospitals.
The International City development is much in demand from investors and potential residents alike, due to the very competitive prices that these are being released at. The benefits of owning property in Dubai at these prices will ensure a lively secondary market.
International City apartments consist mainly of studio and one bed apartments. The property development company in charge of the project is Nakheel, DubaiÂs government-backed developer, and construction is now under way, with expected completion in Dec 2006. All the buildings in International City areas have been sold and deals are now being traded in a secondary market. The Chinese quarter is closest to completion, with occupancy now taking place.
Investors Provident have secured an opportunity with the potential to invest for either short term gain, or long term equity growth within this area. The prices are 20% below market value and should beat anything that investors will see on the web. With exclusive access to a number of studios and one bed apartments with extremely competitive prices - Studios are 220,000 AED and 1-beds are 320,000 AED, i.e. Â£31,000 and Â£46,000 respectively.
If you believe that now is a good time to be investing in dollar-denominated assets, then it is an advantage as investors have the option to sell before completion if the dollar strengthens over the next two years.
- Massive 20% discount to currently available prices - your own tax efficient investment property from only Â£31,500
- Only a Â£1,000 reservation fee secures your apartment.
- 2 years to completion to provide maximum capital uplift (Dec '06)
- Excellent rental potential - circa 10% p.a.
- Proximity to forthcoming Dubai Land (http://www.dubailand.ae) and other major attractions
- Huge international business exhibition market - e.g. Dragon Mart area attractive to Chinese companies
- Invest 50% now and take advantage of the dollar strengthening against the Â£ over the next year, thus lifting the AED higher.
- Residency visa on completion including tax free status of Dubai.
For further information, please contact Investors Provident
Tel: +44 (0) 870 1999 859
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