New Way Forward- Glaring Opportunities of Property Investment

Dubai,the jewel in the crown of the emirates of UAE, has been at the epicenter of theworld investment for years. The tremendous rate of the growth of emirate setsthe precedent for all the countries in the gulf region to adopt the model of Dubai to follow. In thisarticle we would try to look that whether the model of Dubai real estate development can be followedby the other UAE and gulf countries successfully or they should develop theirown model for revamping and remodeling their economy.

Though Dubai has seen theunprecedented economic growth in the past decade but if you single out any oneof the sector I think that Dubai propertysector would be on the top of the list as far as the growth is concern. Whythis sector grew over the past few years? Experts have different answer for that some believe that because Dubaihas open its policy and allowed foreigners to freehold properties in Dubai andsome experts have the view that being the melting point of East and West andhaving the reputation of one of the most dynamic economy of the 21stcentury Dubai attracts foreign investors to invest in Dubai properties.In my opinion both views are correct and one can interpret the success story ofDubai in eitherway.

But the crucial question is that how can  other UAE emirates in particular and otherMiddle Eastern states in general  followDubai model of development and whether they should follow it or not? To me theanswer is simple Dubai has proved that even without so much oil wealth a statecan grow and reach the heights of development. But this all happened because ofthe open policies of Dubaigovernment. The UAEreal estate especially Abu Dhabi property hasgot a huge potential for growth and it can even attract more foreign investorsthan Dubai. Thegovernment of Abu Dhabihas to realize the worth that foreign investment brings to a nation. Theinvestment in property does not only bring money but it also brings much neededhuman capital that a state earns after years of investment.

So what they require to do? In my opinion the Middle Easterncountries just need to open a bit more and allow foreign direct investment intheir countries and leave other things to market as I free economy the marketdecides the course of events. So let it happen and enjoy the fruit ofglobalization.