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For the past few years Dubai has proven itself to be the darling of the property investment world both within the Middle East and beyond, it continues to offer high rental yields and a very good capital growth rate of near 10% which we see today.

Yet Dubai’s development has not just been restricted to the real estate sector, the tourism sector has grown by leaps and bounds in the past 3 years alone. With tourists staying in Dubai hotels numbering 5.4 million in 2004, whilst in 2006 tourist staying in Dubai hotels grew significantly to 6.5 million people. With the number of hotel rooms and flats numbering 40,862 in 2006 and the government of Dubai aiming to reach a target of 8-10 million tourists by 2010 shows that there is at present a significant gap between growing demand and availability of supply for tourist accommodation which may be increasingly felt as major future attractions such as Dubai land and Dubai Sports City open for business.

This level of growth in the tourism industry in Dubai has led to a very high occupancy rate for hotel rooms and apartments for example the occupancy rate stood at 85% in January 2007 alone. This has presented Dubai and UAE property investors as a whole with a splendid potential to capitalise on this growing market, the traditional method of property investment in such as buy to lets in Dubai may offer investors around 8% rental yield per annum. Yet short term letting tenants are charged hotel rates per night which depending on location and quality of properties, landlords can stand to make 10-15% rental yield per annum at today’s hotel rates.

This is a situation which is not solely confined to Dubai, it is also very much applicable in other Emirates such as Ras Al Khaimah especially in established resorts such as Al Hamra Village , where hotel accommodation does not suffice to meet demand.
A common question asked by many investors is what is the best way take advantage of accommodation supply gap in Dubai?

There are two main routes which buyers can take with regards to this:

• The 1st method is to purchase an apartment or villas and utilise a high quality property management company which will take care of an investors property. Normally the management charge will be 20-25% of an apartments rent per annum. It may also be necessary to buy a furniture package from property management company which may vary in cost between £2-£5K.

• The second option available to investors is to purchase a hotel apartment in one of the key future tourist locations such as Sports City in Dubai, such as The Cube [http://www.miragerealestate.co.uk/Property.php?pageNum_rsMaster=3totalRows_rsMaster=40&&PropertyID=53]. These developments are often managed by 5* hotel companies which will in many some occasions give investors rental guarantees and 30 days complimentary stay within the hotel. These are developments in a majority of cases will be fully managed, maintained and furnished with no additional cost to yourself.

Those property investors looking for long term investments who do not intend to move into their properties should consider the hotel apartments as their ideal investment solution. It is a type of property which does not require any significant effort on behalf of investors in terms of finding a capable property management firm to maximise property rental turnover, which saves both time and money. Short term holiday letting is the ideal form of buy to let for the savvy Dubai investor, with rumours of rental stabilisation in the traditional buy to let market, holiday home letting presents one the best potentials for sustained high rental yields.

By

Hamid Shah
Director of Mirage Real Estate Ltd [http://www.miragerealestate.co.uk/] [ad_2]
Source by Hamid Shah

In the past the Dubai Real Estate Development Business has been an oasis for any new coming want to be Real Estate Developer. If someone wanted to develop a Real Estate project in Dubai all they had to have was: enough money to buy their license, rent an office, buy a plot, pay an architect and hire some staff. The ministries didn’t find it necessary to demand and research the new coming developer’s company history or their professional experience. Unlike in western countries, where a track record is mandatory, in Dubai the government even allowed a developer to launch several projects at the same time. No ministries were there to double check and bring to a halt all the happy-go-lucky developers which were launching one project after another.

With so many developments that have been speedily launched in Dubai we are still left with the uncertainty with the actual ongoing development and developer’s final commitment. RERA is now the Regulatory Agency which has been appointed end of 2007 to look out for the Development coordination in Dubai. Nevertheless, still many investors have been left worrying about their previous investment in Dubai Properties. RERA should help investors gain more clarity of the ongoing situation of all the developments. Many questions need to be answered like: Which Dubai Property Development is being canceled? Which development is on hold? Which project is overdue? For example what happened to Dubai Waterfront, Jebel Ali Downtown, Jumeirah Village, Cultural Village, Palm Deira and The World Dubai? Dubai Land and Falcon City seems far from happening. Several projects in Business Bay have been put on hold.

Described as the world’s first purpose built maritime centre, Dubai Maritime City is a state of the art development zone, designed to act as a regional hub for the maritime business in Dubai. A genuinely mixed use development, Dubai Maritime City will also offer a range of luxury residential and commercial opportunities ensuring that the area becomes a focal point for the near 5,000 regional maritime companies working in Dubai. As well as the residential, industrial and commercial areas, the development will also include a large maritime research academy, designed to offer the companies in the regional access to the very latest developments and technology within the marine industry.

The development itself will be strategically located between the Dubai Dry Docks and the Port Rashid development. Covering over two square kilometres, Dubai Maritime City will offer its residents spectacular views over the clear blue waters of the Arabian Gulf. Connected to the mainland by a causeway, it only seems fitting that the worlds leading marine development will be built on land which has been reclaimed from the waters of the Gulf. A genuine superstructure in engineering terms, it is estimated that the project will consist of over 30 million cubic metres of dredged sand and over 2.5 million cubic metres of rock on its completion.

As with many of the free zone development areas in Dubai, Maritime City is designed to create a regional hub of sector specific companies. Within the development, there will be a focus on six major sectors within the maritime industry: marine services, marine management, product marketing, marine research and education, recreation and ship design and manufacturing. The only facility of its kind in the world, DMC seems set to become a global ‘centre of excellence’ for the maritime industry.

As well as the focus on the marine industry, there will be a wide range of residential property in Dubai Maritime City. Already developers have started to announce major projects such as the Iris Mist and the recently launched Admiral Bay within the Harbour Residences area of the development. True flagship residential projects, the property in Maritime City is made up of predominantly high-end luxury apartments which offer stunning views over the Arabian Gulf.

With innovative and unique projects such as the Dubai Maritime City Campus and the Maritime Centre already launched, it is highly likely that more exciting projects will be announced in the development over the coming months. With demand for commercial and residential property in Dubai reaching an all time high, it is likely that the property in Dubai Maritime City will be in high demand.

Already a popular destination for all types of sporting events from closed season training to international tournaments, Dubai Sports City has firmly established Dubai as the number one sporting destination in the world. Given its proclivity for being the biggest and the best, the ambitious Dubai Sports City property development comes as no surprise; it is but a natural progression for this Emirate.

The center piece of Dubailand, the world’s largest theme park and tourism destination, you can expect nothing but the best in terms of sporting facilities as well as the residential and commercial freehold Dubai property available at this purpose built city.

Check It Out!

With its comprehensive range of avant-garde sporting facilities, Dubai Sports City is what dreams are made of, whether you are a sportsperson actively participating in sporting tournaments or a spectator soaking up the thrills of the sport.

Sprawled across 50 million square feet of land within Dubailand, Dubai Sports City is home to state-of-the-art venues, each of them designed and built in accordance with the stipulations laid down by the global governing bodies for the relevant sports.

Take a look at what Dubai Sports City has to offer athletes and spectators from all over the world:

• A 60,000 seat multi-purpose outdoor sports stadium for football, rugby and all types of track and field events.
• A 10,000 seat indoor arena for basketball, volleyball, indoor hockey, ice hockey, netball and handball. It also doubles up as an entertainment center for shows and concerts.
• A dedicated cricket stadium with a capacity of 25,000
• A field hockey venue for 5,000 spectators
• An Olympic size swimming pool
• Multi-functional, state of the art 3,000 square meter gymnasium
• A sports rehabilitation clinic
• World-class sporting academies that offer training programs are customized to suit participants of all ages and abilities

There’s More…

In addition to all of the above, Dubai Sports City will also host:

• The world’s first, purpose-built Manchester United Soccer Schools facility
• The International Cricket Council’s own Global Cricket Academy
• A Butch Harmon School of Golf; the only one outside of the United States
• David Lloyd Tennis Academy
• The Dunes, a plush 18-hole championship golf course, designed by none other than Ernie Els, international ambassador of golf. Nothing but the best for Dubai Sports City.

And More…

In addition to the splendid sporting facilities, the Dubai Sports City property development also boasts superlative residential and commercial developments including the world-class medical facilities and international schools along with ample leisure facilities, hotels and shopping opportunities. A sports-themed retail mall is the primary shopping destination complemented by numerous retail shops, boutiques and plazas.

The commitment to a healthy, relaxed lifestyle is evident everywhere; from the multitude of open parks and lush greenery to the waterway of canals that runs through its center and the well-being and lifestyle country club, the Next Generation Club.

At the Heart of Dubai Sports City – Sport

Capturing the very essence of sport, Dubai Sports City is truly a place where legends are made and sport is life.

The UAE has witnessed tremendous increase in real estate projects bringing with them beautiful rental properties, that has real estate companies in Dubai and Sharjah geared up for another great quarter.

1. AURA RESIDENCE

Downtown Jebel Ali is soon to welcome a new addition to its skyline with Aura Residence which is due for completion towards the end of 2018. The building’s robust and modern look has been the talk of the town along with its convenient location near Dubai Metro’s UAE Exchange Station as well as the Expo 2020 site.

The gargantuan establishment will feature 479 residential units comprising of 347 studio apartments, 87 one-bedroom apartments, and 43 two-bedroom apartments.

2. SHARJAH AL BAIT

Sharjah hasn’t seen a luxury resort open up for quite some time which has people eagerly waiting for Al Bait’s grand debut this year. A unique rendition of a historic hotel, this 53-key five-star property will be an epicenter of the Emirate’s position as a heritage hotspot.

The hotel is expected to be a trendsetter, sporting traditional themes such as handcrafted thatched roofs and Bedouin styled enclaves. The luxury guestrooms and suites will be connected to Souq Al Arsah which is the UAE’s oldest traditional marketplace.

3. EWAN RESIDENCES

The month of May will see the Dubai Investment Park area brim with 51 new units in Ewan Residences. The area already consists of 83 completed buildings and will feature three G+2 accommodations soon.

Meanwhile, as part of ‘The Waves’, developer Lootah Real Estate has announced its delivery in August. Located in Jumeirah Village Circle with a total of 135 units, ‘The Waves’ will contain a mix of one- and two-bedroom units and one-bedroom loft apartments, ranging from 45.1m2 to 185.8m2.

4. MIRA OASIS

Picture an area with luxurious units as far as the eye can see. With over 1,300 contemporary townhouses available as a cluster or terraced houses, Mira Oasis is close to the Arabian Ranches Golf Club, Dubai Polo & Equestrian Club, and Global Village. All units have large balconies, modern fixtures, driveways and courtyards with options of 3 and 4 bedrooms. The Residents’ Clubs will contain a pool, spa and fitness centre.

Split into phases, the first three are to be completed by December.

5. TIME HOTELS

Continuing on a streak of hotel constructions in Saudi Arabia, Qatar and Bahrain, Times Hotels will be entering the UAE real estate possibly by the year end. The company will open three additional hotels in Dubai: Time Asma Hotel, Time Express Hotel Al Jaddaf, and Time Royal Hotel & Spa with Time Royal being the firm’s first five-star property in the Emirates.