Dubai

Dubai (/dˈb/ doo-BY; Arabic: دبي Dubayy, Gulf pronunciation: [dʊˈbɑj]) is the most populous city in the United Arab Emirates (UAE). It is located on the southeast coast of the Persian Gulf and is one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the country's legislature. The city of Dubai is located on the emirate's northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. Dubai is to host World Expo 2020.

Dubai has emerged as a global city and business hub of the Middle East. It is also a major transport hub for passengers and cargo. By the 1960s Dubai's economy was based on revenues from trade and, to a smaller extent, oil exploration concessions, but oil was not discovered until 1966. Oil revenue first started to flow in 1969. Dubai's oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirate's revenue comes from oil. The emirate's Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services. Dubai has recently attracted world attention through many innovative large construction projects and sports events. The city has become iconic for its skyscrapers and high-rise buildings, in particular the world's tallest building, the Burj Khalifa. Dubai has been criticised for human rights violations concerning the city's largely South Asian workforce. Dubai's property market experienced a major deterioration in 2008–09 following the financial crisis of 2007–08, but the emirate's economy has made a return to growth, with a projected 2015 budget surplus.

Latest News for: Dubai freehold property

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How foreigners can buy property in Dubai; here's what you need to know

Khaleejtimes 21 Jul 2024
7 of 2006 on Real Estate Registration in the Emirate of Dubai, non-UAE nationals can own freehold land and property within areas designated for foreign ownership by the Ruler of Dubai ... According to a list issued by the Dubai Land Department (DLD), these are some of the areas where foreigners can own freehold property in the emirate....
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How Non-UAE Residents Can Buy Property In Dubai Here's What You Need To Know

MENA FN 21 Jul 2024
(MENAFN - Khaleej Times) According to Law No. 7 of 2006 on Real Estate Registration in the Emirate of Dubai, non-UAE nationals can own freehold land and property within areas designated for ... ....
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UAE: Al Marjan lsland with 12,000 residential units in RAK sold out, says CEO

Khaleejtimes 16 Jul 2024
Demand for freehold properties – both residential and commercial – has seen unprecedented demand across Dubai, Abu Dhabi, Sharjah and Ras Al Khaimah after the pandemic as inflow of foreign continues at an exceptional pace ... Rent hikes hit Sharjah, Ajman as more Dubai residents move ......
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