DUBAI NEEDS TO MODIFY RULES

Some Laws in Dubai need to be Changed keep with Developmental change
- It will reduce the commercial costs for the investors.

-There will be a positive effect on the business in Dubai Real Estate.
-Some Local and Federation Law must be modified to easy the business and thus Investors' life will be smooth.
- US sub-prime did not much affected the UAE business boom. Sky is the limit says some expert economist.
- The growth here is unprecedented due to the slow down in US economy.
- The industrial sector in Dubai is growing leaps and bounds contributing to the GDP during 2007 & early 2008.
- Though the inflation has made the citizen a bit puzzled, its impact on the growth in tremendous that the people will enjoy in the years to come.

World's Highest Tower-Price Soars

Rates of Dubai Properties Soar

The Property price rates in Dubai soaring .Three months before, the price in the world’s tallest tower was Dhs.4, 000 per sq. ft. now jumped to Dhs.18, 000. The investors are willing to pay 20-40 per cent premium in the secondary market. Buyers are looking plans with little down payment. In the Business Bay area the price per sq. ft is Dhs.1, 800 to 2,500 while the Donald Trump Tower-Dubai sells at Dhs.12, 500 to 15,000. For residential customers the price at Burj Dubai is Dhs.15000 per sq. foot while it is 18,000 for commercial customers. If you do not buy now, I am sure by next year you will regret as it may touch Dhs.32, 000 per sq. ft. to Dhs.40, 000 even. For Down Town Burj Dubai the price ranges from Dhs.8, 000 to Dhs.10, 000 per sq. foot. This further reinforces the fact that there is no seasonal slow down in realty prices in Dubai in near future.

The brokers are concerned about the speculative nature implied in valuations of the properties direct from the developers and the secondary market. However, it is observed a little decline in the rental yields from 7.1 per cent in April to 6.9 per cent in May.

The Palm Jumeirah retained first place in terms of returns on investments as the rate risen to more than 600 per cent over the past five years period. Some villas were sold there for Dhs.2.7 million five years ago are being sold at Dhs.13 million. Office units in the Business Bay saw a big demand from the reseller who bought it earlier
Please note that the Burj Dubai-world's tallest tower is the most important area in the 20 billion downtown projects. The height is reported to be 818m. It will include 30,000 apartments, nine hotels, 6.2 acre of car parking, 19 residential towers Dubai Mall and 30-acre artificial lake.

The Trump Tower owned by Donald Trump is located at the Palm Jumeirah is the most luxurious commercial building in Dubai. The 48-story mixed-us building will have 300-rooms, five hotels, 360 residential apartments, access to private beach, yacht club, tennis court, gym, pools and fitness center and gardens.