Best Or Bust: Property In Dubai

"One small step for man, a giant step for Mankind", the world heaved a collective gasp of awe as man reached the moon. At that point, in the year 1969, it seemed like the pinnacle of human achievement. And look where we are now!! Not even half a century later, man has carved for himself a beautiful environment, on ruthless scorching desert sands…..and this time the Almighty stood back and watched. It was human effort all the way as Dubai; the ‘Pearl of the Arabian gulf’ was conceptualized and created.

Dubai is not just any city; it is the tourist and financial hub of the Middle East. Swanky malls, carpet like roads, mosques, tower blocks, world class sporting facilities, resorts, beaches, desert and mountain resorts, beaches….it is a glittering man made paradise etched on the sands of the Arabia of yore. No longer are the deserts the preserve of camel borne hawk nosed sheikhs with their lavish tents and demure wives peering at the world with kohl rimmed eyes from behind their burkhas. People from around the globe have rushed to this man made desert paradise, to buy themselves Dubai property, to be a part of this construction marvel.

There are several reasons that support investment in Dubai property. A prime location, state of the art facilities, futuristic design, unprecedented luxury, global recognition, attention of the world media and practical issues like the lack of legal entanglements and a simple buying process…all of which coalesce to make Dubai property some of the hottest property on this planet. Film stars, sports bigwigs, industrialists from around the world have all chosen to invest in Dubai property, realizing its worth not only as a safe haven for their funds but also as a place where they can have a world class opulent second home with a significant ‘ wow factor’. Dubai property has become synonymous with extravagance, high quality, cosmopolitan nature and glamour. Mega projects like
"The Palm", "The World" and "Dubai land" have only furthered this view across the world. In fact Dubai has grown so phenomenally fast in the last decade or so, that it has been nicknamed the "Mushroom City".

But with every success story there is always a flipside. There are naysayers galore whose voices of impending doom have raised in stridency post the crash of the Dubai markets last year. They have predicted that the Dubai property market will go bust, that the bubble bursting is imminent. Its only speculation that has made Dubai property prices skyrocket and the requisite infrastructure is not keeping pace with rapid development. Furthermore, the supply is in danger of outstripping demand and the current buying frenzy will soon abate and dwindle away. The sustainability of Dubai as a tourism and financial Mecca also seems to have a cloud of uncertainty lowering above it. All of this places a huge question mark over the future viability of Dubai property.

Yet all doubts seem to fade away as one sees the magnificent city skyline of Dubai rise from the sweeping desert sands. This twinkling carpet of lights is no mirage, gleaming just out of reach. This is Dubai, achievable, accessible and awe inspiring, a tribute to the tenacity and grit of a people who refused to be cowed down by Nature’s harsh landscape. In fact, the merciless desert sands are like a frame to the jewel that is Dubai.

About the author

Robert Martin is associated with a renowned real estate agency in Dubai. He is excelled in fostering Dubai property deals to the benefit of city dwellers in and around Dubai real estate marketplace.