Here’s What’s Happening In Dubai
Dubai is one of the most inspiring, exciting and prosperous cities in the world. It’s strategic location, growing economy, physical infrastructure and fabulous lifestyle, coupled with zero income tax make it a very appealing destination for expats and businesses alike.
Ever expanding, Dubai works hard to maintain its innovative status. Currently, there are many projects brewing that will no doubt shine an even greater spotlight on the city in the years to come.
Here are some of the exciting things happening in Dubai
Next year, the largest event ever staged in the Arab world – is set to welcome 190 participating countries, and over 20 million visitors from across the globe to Dubai. Expo is a global event to share ideas, showcase innovation, encourage collaboration and celebrate human ingenuity.
In the past twenty years, Dubai has experienced an unprecedented infrastructure boom, and now with expo 2020 drawing closer, the city has spared no costs ensuring that its facilities are top notch!
The UAE Government has invested billions of dollars in infrastructure and public transportation. The Red Metro Line is currently being extended to the Expo site and once completed, it will have a capacity of 46,000 passengers per hour. This line will also connect to the new Al Maktoum airport, making it easier than ever to navigate the city through what will become one of the worlds largest airports.
Tourism Economy Expansion:
Last year an ambitious tourism strategy was approved, and it was announced that Dubai would aim to attract 21-23 million tourists by 2022 and a whopping 25 million visitors by 2025. Visa on arrival for Chinese and Russian nationals has stimulated many sectors of the economy as well as boosting the Real Estate market.
This tourism and economy expansion strategy aims to strengthen Dubai’s position as a preferred international destination and the most visited city in the world from its current 4th place ranking. It will also potentially boost growth in major tourist exporting markets, which would, in turn, do great things for the economy.
The Burj Khalifa has been the world’s tallest building, worlds tallest structure and the tallest free-standing structure for several years now. At over 828 meters high and more than 160 stories, tourists flock from all around the world to see the impressive architectural attraction. But in a few years, Dubai will have another remarkable site to wow tourists and residents alike.
Dubai Creek Tower (currently under construction) will become the tallest tower in the world, surpassing the Tokyo Skytree. According to rumours, the final height of the Creek Tower will be over 1 KM tall.
Dubai Creek Harbour Apartments are presently on sale and will boast impressive views toward Burj Khalifa, Dubai Creek, Dubai Creek Tower, the Wildlife sanctuary, and Island Park.
Foreign nationals are jumping at the chance to invest in property near Creek Tower, as future profits on such apartments are expected to soar in value.
Global Healthcare Hub
The UAE has been working hard to cement its position as a favoured destination for medical tourists. And thanks to its wide range of state-of-the-art technology, affordable treatments and highly specialised doctors, experts are confident that it’ll soon clinch the top spot when it comes to leading global healthcare hubs.
According to the Dubai Health Authority, in 2016 alone, medical tourism generated more than $381 million for the emirate. And since then it’s been revealed that the global medical tourism market reportedly makes around $100 billion and is growing at a rapid rate of approximately 20% year on year!
The Perfect Place to Invest
The Dubai Chamber of Commerce has predicted the city’s tourism and travel sector to reach more than $56 billion in 2022 – making it an ideal investment climate for you to take advantage of.
With its tax-free incentives, world-class expos, impressive infrastructure, multicultural environment, great business opportunities and quality of life that’s ranked among the best in the world, it’s no surprise that this city is a firm favourite amongst expats.
In case you need further clarifications or professional advice regarding purchasing an off-plan property in Dubai, please don’t hesitate to contact me.