According to the overseas property portal HomesGoFast.Com new international investors are just on the horizon for real estate in Dubai. The new wave of investors is anticipated by the portal that has seen the start of investment from regions that are more conservative in their property investments. The International real estate portal report that some earlier Dubai projects are now completing and that the regions infrastructure has improved which is giving confidence to previously hesitant investors.
The company have been promoting property in Dubai since 2004 and are working with a selection of developers including Dubai largest private developer Damac Properties. In response to the demand from international investors and the anticipated new wave of investors the UK based Homesgofast.Com has recently opened an office in Dubai.
On his return from the region Matthew Lanham Chief Technical Officer remarked ‘Dubai for us is providing huge interest and it makes sense to cater for our buyers who can now meet our own staff in Dubai. We find that some international buyers want to get a feel for the region before investing and our staff are on hand to do this. We have a team that can speak Arabic, English and French which is a real bonus.
Hind Jouini Chief Sales Executive Homesgofast Dubai “Dubai is still expanding and is a relatively new market. There is so much opportunity here that many overseas buyers don’t know where to begin. Our presence in Dubai will capitalise on the interest in the region from the international community. Our clients come from UK, Pakistan, India, Middle East, and Russia. We predict that more conservative investors will soon be attracted to the region once they see projects coming to completion and see the huge infrastructure improvements here’
The London-based projects magazine Middle East Economic Digest predicts that Dubai population is expected to grow by almost a third to 2million people by 2010.
It has been reported that the scale of the development in Dubai is causing problems with utility companies who are having trouble keeping up with the property developers. Peter Riddoch, chief executive of Damac Properties “Power and water supply is one of the biggest challenges facing Dubai’s real-estate sector. In a number of areas, the government is playing catch up,” he said, adding that although none of Damac’s projects have been delayed to date, he is concerned about developments coming on stream later this year and early next year.
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