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Originally Posted by Investy
My book keeper and my neighbour have just been. Both said it was tatty - even the supposed 5* hotels.
Its a bit too far away for me as an investor and I thought too hot in summer to attract sufficient rentals. A lot of property is being built there so over supply could well undermine rent yields.
I've seen pictures of the new developments such as Hurgada but all looks a bit faux and Las Vegas - for example faux Egyptian collumns along the beach.
I just think there are better opportunites a lot closer to home such as Meditereanean Morocco just a 3 hour flight with big Govt backed developments.
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I thinkk you are wrong...I believe it to be a great area. There is so much going on here....There is a huge theme park that is being built, DUBAILAND, just like Disneyland. Cause of this there are going to be employees, service industry people renting apartments. Throughout the year it is so hard to find spaces in Hotels. You have to book way in advance. People are inquiring everyday for housing.
Another area, DUBAI SILICON OASIS, is being built. This is supppossed to be the technology hub for this area. All the major technological companies are opening their offices here. For this many residential buildings are being constructed. Shopping Malls, hospitals, a new Academic University, parks, supermarkets.
I just told you about 2 projects. There are so many more in development. i would advise you to think about it again and make a journey here yourself. Once you see in yourself you will then realise what its all about.