Today, Wednesday 27th November, 2013 Dubai, UAE was awarded the bid to host the International Expo 2020 Exhibition.
Dubai’s win to host the Expo 2020 is likely to boost Dubai Property prices in the next few years. The “Expo” exhibition is a 6 month long world exhibition that is hosted every 4 years in one world city. In the final round today Dubai competed with Russia, Brazil and Turkey and won the bid. Expo 2020 Dubai is likely to be the best ever visited Expo due to the location within Dubai which is on target to become the world number one airport hub.
This win will provide a further boost to Dubai economy, tourism and the property market. Property prices are already rising and are expected to continue to grow well for the next few years at least.
Our view is that Dubai property prices that have been steadily growing for the past 2 years will jump up quite sharply over the following weeks due to this news.
When trying to assess different investments, you have to try to get the best return with the least risks. In this newsletter we make the case that, in the current climate, for many people, ‘ready’ low-cost investment property in Dubai provides the best such balance if you have savings of around £40,000 or more.
In the past, people who did not want to take ANY risks, thought that keeping money in a bank was 100% risk free. Recent bank problems and the current banking crisis in Cyprus, is a reminder that keeping money in banks is NOT 100% safe.
Nevertheless, overall, keeping savings in most world banks is relatively safe – but it is not wise. However, due to the ‘fear’ factor of doing anything else with their money (as there have been problems with all forms of other investments – shares, pensions, even commodities), most people still keep their savings in a bank.
It’s not wise to keep your money in the bank because:-
Dubai Metro Expansion Plans
The Dubai Government is pushing ahead with its plans to expand the Dubai Metro Network with the additions of 3 more lines. The current Red Line of the metro has already increased property prices along Sheikh Zayed Road and the Marina areas.
With the extension of existing lines to inland areas and 3 new lines in these inland areas, the net effect will mean that the value of “inland property” away from the prime seaside areas will increase significantly over the coming years – at a faster rate than the prime seaside areas
Openshore has been selling properties in Dubai for almost 8 years. Over the initial period we acted as estate agents, helping buyers purchase off-plan properties direct from developers. During this period we saw the Dubai property boom in off-plan property and then the subsequent crash in 2008. Many lessons have been learnt following the off-plan property issues in 2008 after which we stopped selling off-plan properties all-together. We could no longer rely on third party developers, many of whom let us down and also let our clients down by failure to build and by excessive delays.
The market has been fairly stable over past few years and is now beginning to rise again. Over this period we have focused on selling ready properties where we have total control and where we also provide the after sales management. Thus we are 100% responsible and liable for both the properties and the service levels. Our most popular products have been ready low cost Studio and 1-bed apartments that have been purchased by buyers as purely investment properties.
For other types of ‘own use’ properties and large Villas, we have still helped enquirers and where necessary advised them to deal with other reputable Dubai Estate Agents who specialize in their desired type of properties or locations.
It would be good to get views from visitors and clients on how we can improve our current product offerings and also our service.
Additionally, if you have already purchased from us, particularly over the past few years, and would like to comment on the pre-sales and after-sales service we have provided, please go ahead.
Click the link below to view the Panorama Map in your browser. Take a look at this AMAZING view
Dubai Panorama Map –The Burj Khalifa Pinnacle Panorama – Click Here
This shows you a 360 degrees view of Dubai from the very top of the Burj Khalifa. You can Pan and Zoom (High res) and see virtually any landmark in Dubai. In conjunction with the Property map you can relate different property areas to key visible landmarks. Although some areas are in the distance you can zoom in.
Click on the above link to view the Map. You can use the mouse or arrow key to pan and zoom
Openshore Dubai Property Map
Please email us to request the new Openshore Dubai Property Map. This is a pdf files that gets updated regularly and is not on this site.
If you are looking to buy a property in Dubai, you should spend some time looking at the Property Map and reading the information below.
The Map is on two A3 sheets and is divided into 4 pages. “Old Dubai” is at the top of pages 1 & 2. The rest is sometimes referred to as “New Dubai” and is shown in pages 3 & 4 and bottom of pages 1 & 2. Overseas buyers can only purchase freehold properties in the “New Dubai” areas. See below the following sections:-
1. Dubai Property Map Summary
2. All Property Areas by Type of Property
3. Property Price Trends & Actual Prices
None of the 900 tower developments in Ajman that were launched in 2007 & 2008 by Ajman Government in partnership with hundreds of different developers have been completed. After the financial crisis at the end of 2008 and early 2009, developers could not get bank funding and customers stopped making payments and these buildings have not been built. Most of the funds paid to developers have been spent on plot payments to Ajman Government and other admin expenses. About 10 buildings are nearing completion in Emirates City and may be completed in the future.