Dubai 'offers investment opportunities that other places cannot'

28/02/2013 - Dubai Property News Posted by Bob Brunskill
Dubai 'offers investment opportunities that other places cannot'
Developers are capitalising on the massive demand for property investments in Dubai by building huge new projects as quickly as they possibly can.High net worth individuals have been swarming back to the city in the past 12 months and firms are making the most of this influx of foreign cash to kick-start exciting new projects.Speaking to Gulf News, Mohammad Zaal - chief executive officer at upscale new development Al Barari - said traders are increasingly viewing the emirate as a low-risk place to invest their money."Investors have realised that Dubai is no boom and bust city and currently can offer investment options that other prime locations around the world possibly can't," he was quoted as saying.All eyes were on the Al Barari residential area last week, as 28 bespoke villas with price tags between AED 20 million and AED 100 million entered the market.There is no shortage of takers for this type of building at the moment and it seems that investors are working much more closely with construction firms so that their new assets are exactly how they would like them."We had seen demand in the market for bigger plots and where buyers wanted more direct involvement in how their homes would look and the specs to which they would be built," Mr Zaal added.You only have to take a quick look at the government's official construction statistics to see how well Dubai's real estate sector has recovered in the past year.The Building Department of Dubai Municipality revealed earlier this month that 23,243 building permits were issued in the city in 2012.Plans to construct a staggering 12,952 private villas were given the green light last year, which highlights just how popular these luxurious holiday homes have become.Prices have risen sharply in recent months and this trend is likely to continue, so investors who want to make sizeable profits should look to enter this particular market sooner rather than later.The First Group can help you find properties in Dubai