UAE Real Estate Market Continues to Attract Foreign Investors

Since 2010, the world market prices of real estate have risen by an average of 13.6%.

Buy a flat in Burj Khalifa is considered a profitable investment funds.
According to the consultancy Cluttons, in 2013 the cost of apartments in Dubai's Burj Khalifa, the tallest building in the world, increased by 25%.

Since 2010, the world market prices of real estate have risen by an average of 13.6%.

According to Mohamed Ali Alabbar, chairman of the board of directors of the investment company Emaar Properties, in 2008 the cost per square foot of real estate amounted to 10,000 dirhams ($2,700). In 2009-10 due to the global economic crisis, prices have fallen to 2400 dirhams per square ft.

Currently, the cost of square ft is already 3750 dirhams, which is 50% higher than the price in 2009. According Reidin.com, the first half of 2013 the average cost of sales of square ft estate was 3360 dirhams, compared to the price in 2550 dirhams set in the same period last year.

Steve Morgan, head of the Middle East branch of Cluttons, said that in 2013 the prices of apartments in Burj Khalifa, Dubai's jewel of architecture, increased by 25%. This testifies to the economic stability of Dubai, as well as the growing interest of foreign investors in the Dubai real estate market.

In the world's tallest tower - Burj Khalifa located 900 studio apartments, consisting of apartments of different sizes. In addition, there is a hotel, whose interior is developed personally by Giorgio Armani. Hotel rooms are not included in calculations of Cluttons.

More business and financial news and analysis on Dubai's economy can be found at http://dubanks.com

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Real Estate