According to Profile Europe, Free Zones Boost Dubai's Property Market as Brits Flock to Their Shores

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Free Zones in Dubai are helping to poise the nation as one of the "most sought after business and holiday locations rolled into one", with Brits flocking to their shores it look like Dubai could be the destination for property investors in 2008.

Free Zones in Dubai are helping to poise the nation as one of the "most sought after business and holiday locations rolled into one", according to one expert.

Profile Europe has stated that population, workforce and economic growth created and driven by the free Zones and specialised industrialised cities are responsible for attracting scores of reputable companies to Dubai.

Martin Bowen, UK sales director of Profile Europe, stated that the influx of new companies is having a "huge" effect on the property market.

Thousands of employees need accommodation and this has improved both Dubai Property home sales and rental property markets.

There are currently four Free Zones in Dubai - Jebel Ali, Dubai Airport, Media City and Internet City- these tax-free regions are treated as off-shore areas and offer 100 per cent repatriation of all profits.

It has also emerged that an increasing numbers of Brits are being enticed towards a life overseas by the lure of a better lifestyle and increased work opportunities..

Natwest has claimed that people retiring abroad to places such as Spain and Canada are often motivated by the better standard of living which can be found there, while a growing number of people are attracted to work opportunities.

A survey conducted by the bank showed that by 2025 1.8 million Brits will opt to spend their latter years abroad, a number which could increase to 3.3 million by 2050.

David Isley, head of Natwest International Personal Banking, said: "There's a lot of opportunity now for people to go abroad and just expand their horizons; in terms of work opportunity, but also in terms of actual lifestyle opportunity."

Natwest's survey also showed that 87 per cent of expatriates claim their life is better since they moved overseas.

Louise Shipway DreamHomes Worldwide©

DreamHomes Worldwide the number one choice for Property Abroad.

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