The A-Z of Dubai Property: Part Two

N: Nakheel is a part of Dubai Ports World and responsible for the three Palm Island projects in Dubai as well as the huge International City affordable accommodation project.

O: Omniyat Properties is one of a host of new secondary property developers that have emerged in Dubai over the past two years.

P: Palm Islands, three are being developed off Dubai: delivery of units has started on The Palm Jumeirah, but The Palm Jebel Ali is going through a redesign; The Palm, Deira land reclamation is under way.

Q: Quality, world-class construction is the objective of the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, creator of the Dubai real estate market.

R: Ruwaad is an 'iconic' property developer, according to the many billboards across Dubai and has been advertising its name heavily for almost a year without unveiling its iconic developments.

S: Standard Chartered Bank started to offer home mortgage finance in Dubai for the first time this year, and is believed to be the largest supplier of mortgages in emerging markets. Also publishes its own real estate statistics and market forecasts.

T: Tamweel and rival Amlak Finance are the two Dubai listed Islamic home finance companies now under pressure as the global giants of the mortgage industry expand in Dubai.

U: Union Properties is the developer of the Dubai Motor City, Green Community and several skyscrapers in the new Dubai International Financial Centre.

V: Buying versus renting: the traditional argument for buying in Dubai is that rents are high so buying makes sense both for investors and local residents.

W: The World is an artificial archepelago, four kilometres off the Dubai coast, shaped to look like a map of the world. The first of its Maldives-style resorts is under development.

X: Extremely high rental prices, but in terms of rental yield good value-for-money property, because Dubai real estate offers among the best returns in the world.

Y: Youth: barely five years since the Dubai freehold property market launched with a promise to legalise sales to foreigners, which has since happened, this is the world's youngest open property market.

Z: Zabeel Investments is an ambitious, relatively new development company run by the former-CEO of Amlak Finance.

See also:
The A-Z of Dubai Property: Part One
A Short History of Dubai Property
The A-Z of Abu Dhabi property, part one A-M
A short history of Abu Dhabi real estate