Dubai has been ranked the 11th best destination in the world for future property investment, according to a survey published in US magazine, Forbes. The Knight Frank Citi listing placed the emirate above a number of more established cities, including Washington, Zurich and Sydney.
New York and London took the top slots, but as Forbes magazine stated, both these cities remain very expensive to invest in compared to other cities on the list. Shanghai ranked third, followed by Beijing, Hong Kong, Singapore, Mumbai, Tokyo, Paris, Moscow, Dubai, Sao Paulo, Zurich, Geneva, Washington, Berlin, Sydney, Los Angeles, Seoul and San Francisco. The ranking adds yet more weight to reports that Dubai has emerged from the global recession, and is now in full recovery mode. It is also good news for developers like The First Group who continue to expand their Dubai portfolio, offering fresh opportunities for investment. The First Group’s next property set to open is First Central, a prestigious hotel apartment project located in Tecom, New Dubai. The development has already attracted a lot of attention throughout pre-launch. Watch this space for further updates!