Meydan Avenue aims to set new standards of living
Through time, there are numerous positive changes in Dubai's real estate industry. Among the main improvements was unquestionably the 2002 judgment that permitted foreign ownership of possessions within freehold areas of Dubai. This was followed by the enactment of a legislation which made escrow accounts mandatory for all those Dubai programmers promoting off-plan properties.
As a result, Dubai's property industry matured rapidly. Some symptoms of a healthy and older property marketplace are stability in real estate costs, higher transparency in real estate laws, protection of investor rights and increased competition among programmers.
Together with this being executed, Dubai's property industry was bound to bring a sizable amount of investment. Dubai is becoming well known all around the world for continuously introducing world class jobs offering unique opportunities, powerful mass attraction, and large yields using a combination of enthusiasm and excitement.
Efforts by the Government of Dubai to set a regulatory framework through Real Estate Regulatory Authority and Dubai Land Authority that covers business laws, fiscal laws and property legislation has contributed both institutional and private investors greater confidence in investment in Dubai.
As always, a strong regulatory base is essential to promote foreign investment anyplace. The Government and rulers of Dubai have constantly sought to market a solid all-natural association between Dubai and luxury. Consequently most property improvements from hotels to hotels to apartments and condos have centered on the premium section of high net-worth individuals and households. Furthermore, with the greater land and building prices in Dubai, programmers have chosen to produce jobs at the high level level to make them more economically viable.
