Dubai, the place to be for the Gulf’s wealthy

By Rocky Real Estate

Dubai, the place to be for the Gulf’s wealthy

Dubai real estate can generate more than any of the competing cities with $1m investment. It is once again Gulf investor’s favoured spot, beating off challenges from London or Singapore.

“If you have $1 million, Dubai is the place to put it,” said Joseph Ghossoub, Chairman of G&Co, an upmarket developer in Dubai. “As the old adage goes, it’s about creating the right product, in the right location, at the right price. In the context of the world’s leading investment destinations, Dubai ticks all the boxes for experience, opulence and, crucially, returns.”

Compared to other cities, with $1m, you can buy a property in Dubai with 83 square meters size whereas, your $1m will let you avail a 66 square meters property in Singapore, 9 square meters in Monaco, 35 square meters in Shanghai then 20 square meters-sized property for sale in London.

Dubai’s prime real estate demands a “typical investment cost of 8%, Hongkong at 32%, Tokyo and Singapore at 20%. Core Savills’ data suggests the outright cost of property in Dubai’s ultra-luxury market can ’60- percent lower compared to Shanghai and Tokyo, despite the additional quality and space.”

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Source: gulfnews.com