Integration with Dubai, Abu Dhabi key to Northern Emirates' development

On the eve of the first Northern Emirates edition of the R&R Local Property Show, organizers DSL Exhibitions have released the findings of a survey conducted to uncover residents' opinion on lifestyle and developmental issues, specific to the Emirates of Sharjah, Ajman, Umm Al Quwain, Fujairah and Ras Al Khaimah.

"As this is the first time the R&R Local Property Show is moving out of Dubai to cover real estate on offer in Northern Emirates, we wanted to understand residents' opinion on issues connected with living and working in that region," said Tessa Morris, Marketing Director, DSL Exhibitions.

"It also gives our exhibitors, partners and associates a better understanding of residents' key concerns with regard to Northern Emirates."

Survey design:
The survey was conducted online between 15th and 20th January 2008 with 200 residents who have lived in the UAE for 3 years or more.

Survey findings:
1. Comparison of living / business facilities with Dubai and Abu Dhabi: While it is generally accepted that lifestyle facilities in Dubai and Abu Dhabi are substantially better than those in Northern Emirates, the findings reflect that approximately a quarter of those polled place Northern Emirates at par with the bigger neighbors - definitely a great starting point for the region. 82.5% of the respondents also said that it is cheaper to live in Northern Emirates, while a strong 44% felt that the region now offers business infrastructure at par with Dubai and Abu Dhabi. Debashis Bose, who lives in Ajman, commented: "Northern Emirates has the opportunity to invest in development and build a strong self sufficient economy. This will attract more visitors, at the same time residents will contribute towards sustaining such growth."

2. Northern Emirates as a growth opportunity, as yet untapped: An overwhelming 72% of the respondents agreed that the region has the potential for much faster growth. A large segment identified Real Estate and Tourism as areas of growth, both of which are being aggressively pursued by administrations in the region. Amir Pardesi of Star Giga Establishment, a property developer who launched Goldcrest Dreams agreed. "Real Estate will remain the primary engine of growth for Northern Emirates for some time to come," he said.

3. Integration with Dubai and Abu Dhabi as a critical factor for growth: 85% of those polled believe that better integration with its more developed neighbors is key to the region's development. A whopping 85% also said that fast and frequent public transport, connecting Northern Emirates with its giant neighbors will significantly boost growth opportunities and development in the region. Khurram Burney of BL Properties agreed. "Lack of connectivity with Dubai and Abu Dhabi has kept Northern Emirates out of the development mainstream for long," he said. "If people are able to commute across the Emirates easily, the whole country will benefit."

4. Real Estate market in Northern Emirates: While the region offers better home financing products as well as more flexible payment plans - especially in Ajman - when compared with Dubai and Abu Dhabi, not everyone seems aware of this, as only 39.5% of the respondents agreed with this. 68% of those polled however agreed that there seems to be a lot of property on offer in the region but a majority (74.5%) said they were not aware of the different property laws in each Emirate.

5. Most attractive Northern Emirate: Sharjah came out as the best Northern Emirate, on several counts - as an investment destination (48.9%), most desirable to live in (60%) and the one promoting itself most actively (60%). However, Ras Al Khaimah figured prominently in each area as a strong second. Annette Evans of Sherwoods Property Consultants added: "Ras Al Khaimah is fast becoming an attractive business and leisure destination, offering a lifestyle choice, surrounded by sea and mountains for those who would like to escape the rat race, and excellent business opportunities encouraging enterprise."