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| Tweet Topic Started: Mar 28 2013, 05:01 AM (54 Views) | |
| MonicaPhil | Mar 28 2013, 05:01 AM Post #1 |
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The support of the national government of the UAE to private players to develop housing and commercial infrastructure has few parallels elsewhere. The private sector, considered as the engine of growth in any economy has fuelled a different trend in real estate development in the UAE which is literally unstoppable. The construction of luxury apartments and villas are increasing like never before. Not only that, there are many takers for these high cost properties either for sale or rent. A host of programs are being planned to market the UAE as a year round tourism and investment destination. For the high profile professionals, a luxury home is an indication of their economic status in the society. Social attitudes and preferences have changed and thus it has become a craze to own properties of high value. Companies want their professionals and executives to live in such high profile places since it helps to enhance their brand image and high corporate status. Since better economic relationships between people of different countries are taking place through networking, a property for sale in the UAE will have to be sold through bidding if there is demand from more than one buyer. If a business or a businessman is changing his place of residence or business to some other country or another place within the UAE, he will try to sell the business premises to people of his own class and those with whom he was having business relationships. |
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10:24 AM Jul 11