Buyers want more in Gulf property boom (page 2 of 2)

This reflects the results of the AME Info Buying Property in the UAE survey, which found that while Dubai was the most desirable location, prices were forcing people to look to other emirates such as Sharjah and Ajman.

Financing options are increasing, and the recently the escrow law, which was introduced this past summer and will come in to full effect in late December, is seen as a positive for buyers - by creating more confidence. The law requires developers to protect investors money by keeping it in an escrow account and using it only for that project, rather than to finance other projects. The report said it may complicate business, particularly managing cash flow, for developers though.

The Dubai population is predicted to rise to 2.5 million by 2015, while Abu Dhabi's will double three million by 2030. As major developers in the UAE build their name and reputation, they are beginning to move into other countries. Emaar, for instance, has launched $110bn of projects outside the UAE, including in the US. Nakheel, most famous for its Palm island projects, has moved into China, Pakistan and Vietnam.

Download report the FutureBrand Gulf Real Estate Study

See also:
All Cityscape news
Special Report: Buying Property in the UAE
Green buildings LEED eco-construction