Situated in the Arabian Gulf, but far away from the Middle East's political hotspots, Dubai is the business, social, and tourism capital of the Middle East and an international business center. It is a cosmopolitan, multi-ethnic city with business-friendly government policies that allow 100% repatriation of capital and profit. International investors can invest in 100% freehold properties, rent them out or stay in them, and sell them off whenever they want to, with full repatriation rights. Since about 80% of Dubai workforce is made up of expatriates, many of whom are among the world's best paid executives, there is tremendous scope for renting out properties to them as individuals or the companies they work for.
Thus, investors in freehold properties are assured of handsome returns on their investment. It is estimated that an annual return of 25% on investment in the first three years of occupation, is a very realistic expectation. Dubai, quite like Hong Kong, has come a long way from being a gateway to bigger neighborhood markets to a vibrant international business center in its own right. A super-efficient city today, Dubai is a politically stable, socially relaxed, highly prosperous and business-friendly city. Its free trade zones are among the biggest and most successful in the world.
Dubai's superb social and business infrastructure has made it a magnet for global businesses. There's hardly a Fortune 500 company that is not yet active in Dubai. Global organizations prefer to set up their operations in a free zone because the rules and regulations applicable in free zones are much more liberal than in the normal segment of the economy.
Dubai - An Overview
The Emirate of Dubai in the U.A.E. is one of the great success stories internationally in the process of economic development. Traditionally the trading hub of the Region, Dubai is now extending its success into tourism and knowledge based industries. Testament to Dubai's arrival on the international stage is hosting of the prestigious IMF/World Bank meetings in September 2003.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, his vision is to provide the best the world has to offer. In the pursuit of excellence the Government has always looked upon the private sector as full partners. With no personal corporate or sales taxes, foreign direct investment has expanded strongly and mega projects have become synonymous with Dubai's development.
Dubai's strategic location is also a key element in its success. The heart of one of the worlds richest regions, Dubai is located midway between the Far East and Europe.
Multi-national companies increasingly see Dubai as the obvious choice for establishing operations in the Region. Proximity to the Indian subcontinent not only gives access to a market of over 1 billion people but the ability to benefit from an increasingly talented and competitive labor supply.
The pursuit of excellence has resulted in producing one of the best infrastructure facilities in the world. State of the art telecommunications, reliable power, modern schools and healthcare are all attracting an increasingly multi-cultural and highly trained workforce. The Government projects a doubling of population by the year 2010. Luxurious living, the finest cuisine and world class shopping are now the hallmarks of Dubai enjoyed by residents and visitors alike.