You will be glad to hear that the whole world is not in recession. As you know, the UAE’s main income has been oil and with a surge in oil prices since 2001, Dubai and the Gulf states have benefited enormously. So much so that Dubai is currently constructing 230 tower blocks in Business Bay, the Manhattan of Dubai, one of which is the tallest tower block in the world, standing at 180 floors. Phases two and three of International City will accommodate and service a population of over one million. Dubailand has 16 theme parks and is set to be three times larger than Disneyworld in Florida.
There are also projects such as the Dubai metro where more than 500km of rail, under and overground, is being laid, and will be in operation in late 2009. The World Islands have been constructed with property development commencing in the next two years. Meydan city is also under construction, which will be an exclusive part of the city that will host exclusive residential towers and hotels, 20 commercial towers, and the new Dubai racecourse. The largest airport in the world is also under construction, which will have a capacity of 120 million passengers per annum. Recession or no recession, Dubai is full steam ahead, with the population expected to increase to 4.5 million by 2015. What is driving Dubai and will drive Dubai in the future is oil, commerce, and as a city half way between the Far East and the EU/US tourism, some 400 million wealthy people live within a three hour flight.
Premier Estates Maloney is offering customers the chance of reaping the benefits of this economic boom in Dubai by purchasing car parking spaces at Empire Heights for as little as €15,000. To purchase, an initial deposit of €6,000 is paid with the balance of €9,000 on completion of the building in mid-2010. Rent of €4,000-€5,000 per annum is expected which will give a massive yield of c30 per cent. There will also be an opportunity to sell on your spaces before completion, which may yield a massive return. For more details contact Premier Estates Maloney, Michael or Cyril at 094 902 7300.
