Have you ever found yourself thinking, "If only
I'd bought land in Orlando pre-Disney?" Or how
about, "I wish I owned a piece of The Strip in
Las Vegas?" Just imagine where you'd be today if
only you could have predicted the future of these exciting
all is not lost. While the price of property ownership
in cities like Orlando and Las Vegas has skyrocketed,
other cities are just coming into their own. The trick
is just to find the next great investment opportunity.
Dubai, Shining Star of The Middle
where's the best place to invest in real estate today?
It's a little known, rapidly growing city that is fast
becoming the shining star of the Middle East - Dubai.
is one of the seven United Arab Emirates, and it's been
called the fastest-growing city on the planet. In fact,
it has all the makings of a blockbuster success of epic
proportions. Here are a few of the impressive accomplishments
and projects that are helping to focus global attention
on this city:
- The only seven-star hotel in the world
Burj Dubai - Tallest
tower in the world
Mall of Arabia
- Largest shopping mall in the world
Palms Jebel Ali
- Two largest manmade islands, with resorts and entertainment
venues, just off the Dubai coast
Dubailand - A
collection of six ultra-modern theme parks including
45 mega-projects and 200 entertainment projects in
development designed to create a tourism venue nearly
three times the size of all of Walt Disney World Resort
Jebel Ali Port
- Largest manmade port in the world
Sky-walk - Longest
foot bridge in the world
World-class Sporting Events
- Dubai World Cup (the world's richest horse race),
Dubai Desert Classic (Golf) and Dubai Rugby Sevens
Dubai International Financial
Centre (DIFC) - Proposed financial hub
for the entire Middle East
Dubai's Airport -
Expansion underway to be able to handle 45 million
passengers a year by 2018.
- 100% tax-free business environment
in it for You?
the really good news. It's not too late for you to participate
in Dubai's growth. How? Consider investing in one of
its to-be-built, five-star condo hotels. Available now
are pre-construction opportunities to purchase condos
hotel units in Dubai. And Americans, Europeans and Asians
are all jumping at the chance.
essentially purchase a luxurious hotel suite (studio,
one-, two- or three-bedrooms), and as an owner you'll
share in any revenue that hotel unit generates.
much revenue? Well some developers in Dubai are actually
offering a guaranteed 8% minimum annual return or 60%
of the revenue your unit generates, whichever is greater,
for the first three years. And after the third year,
you're still entitled to 60% of the revenue, but there
is no guarantee.
60% of the revenue be significant? Of course, no one
can predict the future, but consider these facts. Dubai
has the highest hotel occupancy rate in the world! In
2005, it was 86% and has been steadily climbing. It
also has the highest revenue per hotel room in the world,
beating out world-class cities like New York, Singapore
Photo by Rashid Shah. . . .
Condo Hotel Ownership
the owner of a condo hotel unit, you can keep your condo
hotel as long as you'd like. When you no longer want
it in your real estate portfolio, you can resell it,
presumably at a much-appreciated price, and you keep
100% of the profit.
this a good time to buy in Dubai? After all, this country
is not an established vacation destination like Las
Vegas or Florida. But in fact, that's exactly the reason
to buy right now.
Dubai real estate sector is just a few years old. Getting
in on the ground floor of a new property market has
its advantages. Remember, these are premium properties
in a new land with unlimited potential. The prices on
these five-star condo hotels are extremely reasonable,
leaving plenty of room for appreciation.
for example, the Trump International in Ft. Lauderdale,
Florida where a studio condo hotel unit of 612 sq. ft
would cost you over $800,000 today or the Cosmopolitan,
Las Vegas, where a 600 sq. ft. studio will run you $750,000+.
studios in Dubai condo hotels start at under $150,000.
In fact, at those prices, you can handily buy a three-bedroom
unit in Dubai with enough left over to purchase new
his and hers Mercedes and a pair of matching camels
What Makes Dubai So Popular?
lies on the southeastern shore of the Persian Gulf,
strategically located at the cross roads of Europe,
Africa, the Middle East and Asia. This makes it a gateway
to over 1.5 billion consumers.
its central location, Dubai is rapidly becoming the
most popular tourist destination in the region. Over
the past decade, the number of visitors to Dubai has
grown from 1.08 million to 5.4 million, representing
an annual growth of 16%.
growth rate is more than triple the world tourism growth
rate over the same period. In fact, in just the last
five years, there's been a 54% increase in the numbers
of tourists visiting Dubai.
200,000 visitors a day, Dubai is being designed to attract
and accommodate 15 million visitors a year from 2010
onwards. All of this bodes well for owners of condo
Be a Part of Dubai's Skyrocketing
sparked Dubai's sudden growth? In May 2002, Sheik Mohammed
bin Rashid al-Maktoum, in an effort to reduce Dubai's
economic dependence on oil, issued a decree that for
the first time allowed foreigners to buy and sell property.
race was on. Investors from all over the world jumped
in with both feet, recognizing the potential of Dubai
with its stable economy, secure political scene, zero
property and income tax, and an unmatched standard of
addition, plans got underway for Dubailand, an immense
mixed-use project combining theme parks, resorts, restaurants,
shopping venues and more. Dubailand will ultimately
be nearly triple the size of all of Orlando's Walt Disney
World Resort and will play a significant role in making
the city a world-class destination.
Photo by Rashid Shah. . . .
Dubai is considered the number one emerging market.
An estimated $80 billion of real-estate projects, including
the five-star condo hotels mentioned here, are now underway
if you're still kicking yourself for not having bought
some of those Florida orange groves and cow pastures
that eventually became Walt Disney World or invested
in that business in the desert that became part of the
Las Vegas Strip, here's another chance to make your
mark in the sand - Dubai!
Greene is president of Condo Hotel Center, a real estate
brokerage that specializes in condo hotels. He also
is a world-renowned expert on Dubai. Visit his condo
hotel websites at www.CondoHotelCenter.com