A Futuristic View Of Construction And Property In Dubai

By Author: Kristy Blanchard
Total Articles: 16
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Dubai is one of the biggest business hubs in the world. The economy generated from this part of the world was mostly generated by oil, but times have changed and it has considerably changed from oil to real estate and hospitality. The hospitality side has a sudden boom because of so many tourists coming in from all over the world. Dubai is on pace and is one of the fastest growing emirate.


Dubai is latest and biggest marvel is the Burj Khalifa; its construction started in 2004 and ended in 2009. It opened up in 2010 with a total building height of 2,717 ft, 208 floors and at an estimated cost of 1.5 billion dollars. In second place is the Al mas tower whose construction began in 2005 and ended in 2009, it even opened up in 2009. The total height of the Al mas tower is 1,191 feet with a total floor count of 74.The next in line is the Emirates office tower, whose construction began in 1996 and ended in 2000 with a total building height of 1,163 feet and 54 floors. Last but not the least the magnificent Burj al Arab Hotel whose construction began in 1994 and ended in 2000 with 60 floors to its name.


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... is the view of the Dubai construction business, with the belief of everything big they have surely taken the world by storm. The Dubai mall is the world’s largest mall based on area and has 1,200 shops. The total sq ft area of the Dubai mall is 12 million sq ft, with a luxury hotel, 22 cinema screens, 120 restaurants, and cafes. This is another spectacle that shows the power of the Dubai construction business, Dubai is the land of opportunity and people who have come out with new ideas have flourished religiously.


With the end of the recession all over the world, the Dubai property business has flourished from the start of last year and first half of 2012. The prices of real estate have risen up and as there are so many, who had bought property, did benefit from it by selling the property at higher rates or by renting at hiked rates.


The property at Palm Jumeirah and the Marina are being sold at quite reasonable rates. With brokers and agents analyzing the Dubai market in 2012, there is a good probability that the prices could shoot up, the minimum rent for a studio apartment would be 2000 Dir ham's, this itself is self explanatory of the rental price hike in Dubai. Individuals who come from other parts of the world to work in Dubai cannot even afford a studio apartment, as they are expensive. Three or four individuals to share the rent share the apartment. Dubai never had an ownership rule, until 2002 that it opened up its doors to many individuals and organizations to invest in this beautiful emirate.


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