UAE reality attracts foreign investment

Dubais-property-marketA UK-based law firm has said that Dubai's property market has started to gain steam and that has again made it attractive to the foreign investors.

But, said the firm that steps should be taken to ensure that buyers are allowed to negotiate on contractual provisions which can be later on imposed on the concerned parties. Christian Taylor, Partner, Holman Fenwick Willan said that is Dubai's real estate when compared with some of the other bigger reality markets has seen significant rise.

And much of it can be attributed to the fact that Land Department and Real Estate Regulatory Agency has come forward and made sure that confidence in the sector is re-established. In the same line regulations related to contractual agreement has been of utmost importance.

However, one cannot deny that global investors are also looking at completed properties and are not looking at one-off plans. Most of the investments have been done in commercial or office premises.

The investors are also looking for long-time returns.

This is different from what Neil Heaney, CEO, Judicare Legal Services had earlier said about international clients. He has said that they are not going to buy properties in UAE.

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