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Real Estate in Dubai refers to the market for property development and investment in the emirate of Dubai, United Arab Emirates. Real estate is a significant contributor to Dubai's economy, accounting for a substantial portion of the city's GDP. [1] Dubai's real estate market has experienced growth and transformation, driven by the city's rapid ...
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
The emergence of Dubai's lively real estate market was briefly checked by the global financial crisis of 2007–8, when Dubai was bailed out by Abu Dhabi. [31] The recovery from the overheated market led to tighter regulation and oversight and a more realistic market for real estate throughout the UAE with many 'on hold' projects restarting.
Dar Global PLC is a real estate developer headquartered in Dubai and is a publicly listed company in the London Stock Exchange. [1] [4] [5] Dar Global, started trading on the London Stock Exchange (LSE) on February 28, and was the first Saudi company to list on the main market of the London stock exchange. [1] [6] [7]
Sobha Group LLC is a GCC based real estate developer headquartered in Dubai . The company was established in 1976 as an interior decoration firm in Oman by Mr P.N.C. Menon. [1] [2] [3] The company is functional in the UAE, Oman, Bahrain, and Brunei. Sobha Group LLC was the subject of a case study at Harvard Business School. [4]
The Dubai Mall officially opened in 2008, and Burj Khalifa in 2010. By 2014, Emaar was holding over $11.4 billion in real estate investments. [10] In 2007, the company was majority-owned by Dubai's government. [11]
Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor .
This page was last edited on 18 October 2023, at 08:39 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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