Dubai 'is the most attractive investment location in the Middle East'

04/12/2012 - Dubai Property News Posted by Neil King
Dubai 'is the most attractive investment location in the Middle East'

Dubai has been hailed as the most attractive investment location in the Middle East.According to Jones Lang LaSalle's latest Middle East and North Africa (Mena) Investor Sentiment survey, most people expect the emirate's real estate sector to perform strongly in the next 12 months - especially when compared to other markets in the region, Emirates 24/7 reports.The organisation suggested there are three main reasons for Dubai's booming popularity.A spokesperson for the consultancy remarked: "The transparency, legal structure and international appeal of Dubai are the likely reasons for this trend."Foreigners who do decide to take on a property investment in Dubai receive a lot of protection from the government.Indeed, the emirate has introduced 13 new rules that are specifically tailored to monitor the real estate sector and an investor protection law is also being drafted.The first of its kind in the Mena region, this reform will offer 100 per cent refunds to investors if a property developer defaults on a project.It is this kind of attention to detail that makes Dubai a far more attractive investment location than other similar places.Jones Lang LaSalle also highlighted Dubai's incredibly strong economic performance in 2012, which has obviously given investors a great deal of confidence.Last week, the Dubai Statistics Centre announced the city's gross domestic product had increased by 4.1 per cent in the first half of 2012.This took many experts - who had predicted a far more steady expansion of the emirate's economy - by surprise, and provided more evidence that Dubai is a superb place to invest at the moment.Much of the upturn has been attributed to the growing number of tourists to the UAE and greater activity among property developers.A host of exciting projects had to be shelved during the global economic crisis, but many of these have now been given the green light, which is great news for investors who are looking for new assets in exclusive parts of the city.Searching for apartments for sale in Dubai? Let The First Group help you out