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Date: 05/12/2008

Dubai retains it’s allure among property investors

Real estate sector investment in Dubai crossed over Dh158 billion so far in 2008, based on the number of registered sales, leasing and mortgage transactions. At the recently held Urban Waterfront conference, reports showed that the global market value of waterfront property developments will cross $500 billion in the next five years.

Ahmet Kayhan, Chief Executive of the website said: "The global financial crisis notwithstanding, Dubai remains one of the most attractive destinations for investors from all over the world with over Dh158 billion invested since the beginning of 2008 to date. [This is] in comparison to total investments of Dh151 billion last year."

With three Palm real estate projects, Waterfront and The World in the pipeline, Dubai is set to be one of the most active locations in terms of waterfront development. Even though parts of these properties may be on hold for the time being, investments in Dubai are still growing.