This statement comes straight from the World Bank and the International Finance Corporation in their annual report Doing Business 2009.
The Sultanate of Bahrain is viewed as another oasis in the Middle East and the U.A.E. properties market largely due to the significantly lesser procedures involved, and the reduced time it takes to obtain a building permit for construction.
Sadly, Dubai does not figure anywhere on this list. Nonetheless, far from being a setback, there are definite plus points to be enjoyed in a Dubai property investment.
Take the recent real estate laws and regulations that were passed in Dubai. These rules place tremendous responsibility on the developer to deliver as promised on the purchased property, in the absence of which investors can rescind their registration.
Developers in turn can bestow residency visas to the party making a Dubai real estate investment with them. The authorities maintain that such measures not only reduce the processes and paperwork involved, but also ascertain that some degree of responsibility on the developer, investor as well as the broker is recognized.
The government is doing all it can to increase ventures for investment property in Dubai, and such balance of power should put Dubai on the next Doing Business list.
Regardless of the current economic situation, there are some fantastic opportunities for property investment in Dubai. Do not contact your nearest dealer to avail of them though, get in touch with an expert in U.A.E. properties for sale.
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