Sheikh Mohammed has set about making Dubai the first Arab nation to use its riches to create a fast, growing, diversified economy within the next 5 to 10 years. Dubai is the number one holiday destination from the UK and with one of the highest hotel occupancy rates in the world; Dubai is investing heavily in the creation of innovative leisure projects where the only limitation is imagination. Coupled with the recent changes in property ownership laws for foreigners, Dubai is set to become a world-class business and tourism hub in the Middle East.
The Dubai property market is one of the hottest in the world right now. Speculators are buying and selling properties and developments at a frantic pace. In fact, it is not uncommon for a new residential unit to exchange hands upwards of eleven times before it has even been completed. In each resale the unit will increase in price anywhere from ten to seventy percent depending on the popularity of the project.
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