Reasons why it is wise to invest in an apartment in Dubai now

Dubai is the largest and the most populous city of the United Arab Emirates or UAE. It is Located on the northern coastline of the Emirates and on the Southeast coast of the Persian Gulf. Dubai is one of the seven emirates that are together called the UAE.

Over the last few decades, Dubai has emerged as a truly global city. It is the major business hub of the Middle East, as well as a prime center of transport for passengers and cargo. While oil revenue gave the biggest initial push to the city, it has now branched out into other domains such as pharma, tourism, solar power, etc. And now, the scenario is such that less than 5% of its revenue comes from oil.

Dubai has adopted a very liberal approach to boost its economy. Today, its primary sources of revenue are the aviation, tourism, financial services, and real estate sector. This city is now home to some of the world’s most renowned construction projects. The city houses many impressive skyscrapers, including the world's tallest building, the Burj Khalifa.

In 2013, a major United States’ global consulting firm had rated Dubai as the best place to live in the whole of Middle East.
The Real Estate Scenario in Dubai

The property market of Dubai had witnessed a major decline in 2008-09 but post that, it has been slowly picking up. Today, many real estate experts even suggest that this is a good time to invest in the real estate in Dubai as the market prices are expected to further shoot up in the near future owing to its exceptional growth in the economy.

Why buy flats in Dubai?

Being one of the most developed cities of the UAE, Dubai attracts many migrants. Some of the reasons that make investing in one of the residential apartments in Dubai for sale an ideal investment option are as follows:

•  Consistent Growth in Economy: No one wants to get stuck in a stagnant economy which has no scope for development. In a stagnant economy, it is more difficult to find job opportunities as well as modernized facilities. Dubai has a flourishing economy where you can have a bright future. At a time when most Middle East countries are bearing the brunt of the oil crisis, Dubai has managed to come up as a champion with its stable economic growth. The economy of this city is touching new heights with every passing day. By 2015, Dubai had become the 5th fastest growing economies of the world, and it is continuing to develop at a fast pace.

•  Ministry of Happiness: Happiness is a primary factor in everyone’s life and Dubai is one of the unique cities to have a Minister of Happiness. This ministry aims at making the lives of their residents happier and works for their betterment.

•  Security: While many cities of the Middle East suffer from regular turbulence, the residents of Dubai enjoy a much higher degree of security and stability.  It is one of the most politically stable cities in the Middle East and North Africa [MENA] region.

•  Luxury Housing: Variety of residential projects has come up in Dubai that offers the most high-end amenities that are essential to lead a comfortable and luxurious life. Also, these projects have multiple facilities like clubhouse, swimming pools and spa, right within the premises of the apartment buildings.

It is evident from the above-mentioned points that Dubai is the one city where there is huge growth potential. Therefore, if you have to buy property in Dubai, you will have to start looking at the projects launched by various real estate companies in the prime locations of the city like the Dubai Water Canal.