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Originally Posted by jun222
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.
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I agree with you. I just came back from a vacation in Dubai and couldn't stop raving about the place. It's probably a bit of holiday euphoria, but I certainly think Dubai is a place to look into. I am not sure whether right now is the right time to go in since the market there is surrounded by so much hype. But in 2 or 3 years' time, prices might ease off?
I am hoping to invest in some overseas properties, sort of like retirement planning, and had done some research on the internet. It would appear that Dubai is more welcoming than Thailand. In Thailand, up to a maximum of 49% of the apartments in a building can be held by foreigners on a freehold basis. But there doesn't seem to be such a restriction in Dubai.
One thing I have noticed is that developers' websites don't really say much about the interior of their developments. For example, is the flooring wood or marble? How about the bathroom features?
The other major concern is political instability in the Middle East. What if there is a shooting war in the region?