Dubai. Real Estate

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Dubai. Real Estate

Alfa Resonance Capital, in collaboration and partnership with leading real estate companies, offers active investors (individuals and legal entities) the purchase of profitable investment properties located in the city of Dubai (United Arab Emirates).
Why Dubai? The city offers higher rental rates than many other developed real estate markets. On average, investors can achieve gross rental returns of 5 to 15%. Property prices per square meter are lower than in many other cities around the world, making Dubai an affordable place to own luxury real estate.
  • security.
  • entertainment and recreation.
  • perfect location.
  • excellent climatic conditions.
  • an ideal investment climate and business environment.
  • individual selection of a property and a payment plan.
  • finished objects, objects at the construction stage, objects at the planning stage.
Why is it profitable to invest in Dubai real estate? Dubai is an internationally renowned year-round tourist destination for family and outdoor activities, alluring with its warm, sunny climate, white sandy beaches and azure waters of the Persian Gulf. In Dubai, more than 345 days a year are sunny. There is plenty of warmth and sun here in both summer and winter. In summer, the average air temperature is about + 40°С, in winter – + 20-23°С during the day and about + 15°С at night. In the summer months, especially in July-August, of course, it is hot, but the rest of the time the weather in the Emirates is very pleasant. Especially in autumn and spring, when you can spend most of the day outdoors most comfortably. Rains are rare, mostly from November to March. The amount of precipitation is about 120 mm per year. The sea water temperature on the beaches of Dubai practically does not drop below + 25°С. The only exceptions are the winter months, when the sea can cool down to +20 degrees. Severe storms in the Persian Gulf are extremely rare. The sea is calm most of the year, the height of the waves near the coast does not exceed 0.5 m.
Transport accessibility. Geographically, Dubai is located very favorably. A third of the world’s population lives within a 4-hour flight from Dubai. At the same time, Dubai is located in the same time zone as many European capitals, there is no time shift that requires adaptation for long-distance travel. And since Dubai International Airport is located within the city limits, the transfer from the airport takes no more than half an hour.

Developed infrastructure and quality of life. Dubai is the most modern metropolis. Many call it “the city of the future” and they are not far from the truth. An amazing city that grew up on the edge of the desert, as if it was created in order to amaze a person’s imagination. Skyscrapers receding into the clouds, huge airports, an ultra-modern metro without drivers, stunning shopping centers with real ice rinks and ski slopes … Everything here is designed for maximum comfort. The developed network of roads of the highest quality is practically free of such a defect as congestion, although there are more than a million cars per two million residents of Dubai. The results of a study on quality of life were recently published. New York is traditionally taken as the base city for the ranking. In terms of quality of life and, as a result, attractiveness for expatriates, Dubai ranks 75th among the 221 largest cities in the world (New York – 49th), and in terms of infrastructure development – 35th (New York – 32). The experts compiled the rating based on an analysis of 39 criteria for each city, including political, economic and environmental situation, factors of personal safety, level of education, transport services and consumer services. And according to an independent expert council from London, the United Arab Emirates is recognized as the best Arab country to live in, also included in the rating of the 50 best countries in the world.
Regional business center. As already mentioned, Dubai, unlike most similar resort destinations, is a large metropolis, which allows you to live an active business life while living in a resort. Dubai is located at the intersection of air and sea trade routes between Europe, Africa and Asia, making it the largest business hub in the Middle East and North Africa region. There is practically everything for this: free economic zones, in which the regional headquarters of leading international companies are located, the largest seaport in the region with modern infrastructure, the operating Dubai International Airport and the new Sheikh Maktoum airport, which, after full commissioning, should become the largest in the world. By the way, according to the latest data from the Airport Council International, Dubai International Airport is ranked 4th in the world in terms of international passenger traffic and 6th in the world in terms of freight traffic. Dubai International Airport is the only one of the ten largest airports in the world to show double-digit growth rates over the past several years. Today, Dubai International Airport serves more than 130 airlines flying to more than 220 destinations on five continents. The airport is the largest regional air transport hub and provides about 30% of all passenger air traffic in the Middle East and North African regions.
Security. The United Arab Emirates and Dubai, in particular, are widely known for their high levels of personal security and social stability. In a period of global tension and an ever-increasing wave of unrest in the world, the Emirates remains an island of reliability and security in the region. This is largely due to the tough immigration policy of the authorities. It is no secret that the citizens of the Emirates make up only about 15%, and the rest of the country’s population is expatriates who need to obtain and periodically renew the status of a UAE resident, in accordance with the established rules. At the same time, appropriate checks are carried out and if the expatriate’s reputation for some reason does not meet the selection criteria, he is refused a new resident visa. In its annual United Arab Emirates Crime & Safety Report: Dubai, the US Department of State (Bureau of Diplomatic Security) notes: attitude of criminals. Expatriates found guilty of a crime receive a prison sentence with immediate deportation from the country, immediately after serving their sentence.” According to research by the independent British organization Legatum Institute, the UAE is ranked 18th in the world in terms of personal safety. In their study, which covered 104 countries, which together account for about 90% of the world’s population, the Legatum Institute experts assessed each country according to several criteria, including economic, social, security, civil liberty, public life and attitudes towards immigrants. The Emirates received the highest marks in terms of safety, ahead of the United States, Britain, Germany and France, as well as in terms of tolerance towards immigrants. The United Arab Emirates is in second place among the countries with the lowest homicide rate per hundred thousand people. And according to the results of the global Gallup World Poll, 95% of the population feel safe being alone at night on the street, which is the highest indicator of any country in the world.
Transparency of legislation in the real estate segment. Of all the seven emirates that make up the UAE, Dubai has the most developed and transparent legal framework in the real estate sector. According to the legislation of the Emirate of Dubai, citizens of foreign states that are not members of the Cooperation Council for the Arab States of the Gulf (GCC) have the right to directly purchase real estate in Dubai in full ownership (“freehold”) in specially designated territories, in the so-called freehold areas. The list of such zones is established by the Decree of the Ruler of Dubai No. 3 of 2006. These include virtually the entire territory of “New Dubai”, including such popular areas as Dubai Marina, The Palm Jumeirah, Emirates Living, Jumeirah Lakes Towers, Downtown Dubai and others. Real estate rights are registered in a special register of the Dubai Land Department, and the owners are issued a corresponding registration certificate (“Title Deed”). Registration of real estate transactions is carried out at the time of contact between the buyer and the seller, and immediately the buyer is issued a registration certificate certifying his ownership of the purchased property. This “instant” registration procedure simplifies the procedure for buying / selling real estate as much as possible and minimizes possible risks, both on the part of the seller and the buyer. Compliance is monitored by the Dubai Real Estate Regulatory Authority (RERA). It is, in particular, responsible for the registration of real estate projects, as well as for the mandatory registration of developers, real estate agencies and the agents themselves. RERA’s activities are aimed primarily at protecting the rights and interests of buyers and sellers and is designed to minimize the possibility of fraud on the part of agents.
No taxes. There are no property and income taxes in the United Arab Emirates. VAT and sales taxes are also practically absent. Owning and real estate in Dubai, as well as receiving income, for example, from renting it, does not entail any tax consequences for the owner within the jurisdiction of the UAE. According to a report produced jointly by the World Bank Group, the world’s largest international network of professional consulting and auditing firms, PricewaterhouseCoopers (PwC) and the International Finance Corporation, the tax system in the United Arab The Emirates is one of the most attractive for business and ranks fourth in the world. Paying Taxes – The Global Picture also notes that the United Arab Emirates ranks among the top ten economies with the lowest Total Tax Rate (TTR) and one of the easiest business requirements to help the country effectively attract direct foreign investments.
Price. If we compare prices, then today there is a unique situation when housing prices in Dubai are noticeably lower than the world average. For example, the price per square meter of fully finished apartments in the prestigious coastal areas of Dubai starts at just $ 2,700. And an apartment on the famous artificial island Palm Jumeirah can be purchased for $ 4888 per square meter. At the same time, residential real estate in Dubai is being commissioned already with a fine finish, including full equipment with all plumbing fixtures, kitchen furniture and built-in household appliances. All buildings must have parking spaces for residents, and most projects also have amenities such as a swimming pool, gym, playgrounds, 24-hour security, etc.
High rental income. Dubai is a city of visitors. More than 90% of the two million inhabitants of the metropolis are expatriates. Few of them can afford to buy their own homes, but everyone needs somewhere to live, work and rest. That is why the rental market is very developed here. This, in turn, makes Dubai property attractive in terms of investment. Real estate in Dubai, especially residential, is capable of generating high current rental income. Much higher than similar properties in Eastern or Western Europe. If we talk about the average market indicators of the current return on investment in real estate, then for housing in Dubai today the indicator of net rental income (that is, income minus the cost of servicing real estate) averages 5-15% per annum. The spread in profitability is due to differences in the type and category of real estate, its location and the cost of maintenance. At the same time, more expensive exclusive real estate, as a rule, gives less return in the form of rental income than mass housing in affordable projects. With regard to the office real estate market, today such investments are less attractive in terms of rental income than the purchase of housing. The lease of retail space (this includes not only shops, but also service points, cafes, restaurants, etc.) is potentially capable of bringing a higher income (up to 15%), however, this depends both on the parameters of the property itself, as well as and from factors external to it. In addition, in Dubai, as, indeed, in the rest of the UAE, it is customary to pay rent a year in advance. As a rule, all settlements are made by bank checks. Depending on the terms of the agreement, the annual rental amount is paid by one or more checks. In the latter case, checks are dated with future dates. For example, if the number of checks is 4, then the dates of the checks will correspond to the dates in the future every quarter, and if the number of checks is 12, then they will be dated at intervals of a month. Accordingly, when the date indicated on the check comes, the landlord can present it to the bank and receive money from the tenant’s account. Issuing unsecured checks is a criminal offense in the UAE, so paying by check, while not 100% guaranteed to receive your rent, keeps the landlord’s risk to a minimum.
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