Dubai Investment News
Mastercard study highlights strength of Dubai tourism
Dubai continues to attract more and more visitors and it is expected to become one of the world's top tourism destinations in the next few years.According to Mastercard's latest Global Destination Cities Index, there was a significant upturn in the number of people taking a holiday in the emirate in 2011 and 2012 and experts believe this trend will continue this year. Only Bangkok can rival Dubai when it comes to visitor growth.The purpose of the study is to rank cities all around the world based on their tourism potential and a number of factors are taken into account, such as international arrivals and the amount of money being spent by holidaymakers. The credit card firm also made predictions for the future.Bangkok was rated as the number one global destination, narrowly beating London, while Paris, Singapore, New York, Istanbul and Dubai were also ranked highly.Importantly, Mastercard included Dubai in its “cities to watch” category.”If all top ten destination cities maintain their current rates of growth in the next few years, then by 2016 Istanbul will surpass Singapore, New York and Paris in terms of international visitor arrivals; and Dubai will similarly surpass Singapore and New York in 2016 and Paris in 2017,” the report stated.With so many phenomenal hotels, shopping centres and other amenities – not to mention the beautiful beaches and desert climate – it is no surprise to see Dubai featuring at the top end of such a prestigious list.Dubai International Airport is now the second busiest on the planet and recent figures highlighted just how quickly the aviation facility is growing.Indeed, Dubai Airports confirmed that nearly 5.5 million passengers flew into the airport in April alone, which was an 18.7 per cent improvement when compared to the corresponding month in 2012.Dubai is also attracting more and more cruise passengers, with major international liners making the city an integral part of their itinerary. Continue reading
Michel Salgado to speak at Dubai event
Former Real Madrid and Spain star Michel Salgado will be one of the guest speakers at the Dubai International Football Academies Forum this weekend (June 1st and 2nd).The ex-fullback – who ended his illustrious career in the 2011/12 season while playing for Blackburn Rovers – will be joined by Uefa official Ioan Lupescu and Fifa representative Jean Michel Benezet on the opening day of the event.They will talk about how both football governing bodies plan to boost the development of young players in the future.Although the UAE is not renowned for being a footballing hotbed, the game is undoubtedly becoming more popular in this part of the world.Salgado, aged 37, has been living in Dubai for a few months and he is certainly well placed to offer advice on how the game should be played.The rightback amassed 53 caps for Spain between 1998 and 2006 and won a plethora of trophies throughout his career, particularly during his stint at Real Madrid.Indeed, Salgado lifted the La Liga title four times and he also won the Spanish Cup on three occasions. In addition to this, the dependable defender scooped the Uefa Champions League trophy in 2000 and 2002.This is the second time the Dubai International Football Academies Forum is being held and Salgado is not the only famous face being lined up to appear at the event.Argentine legend Diego Maradona – who is currently working as an ambassador for the Dubai Sports Council – will talk about how to succeed in football, while ex-England coach Sven-Goran Eriksson will also be on hand to tell the audience just how important it is to get the basics of the sport right.Eriksson has had a glittering managerial career to date and the Swede has landed numerous honours – most notably with Italian club Lazio in the late 1990s/early 2000s. He is now employed as a technical director at UAE-based club Al Nasr. Continue reading
Neighbouring emirates benefit from high Dubai rents
The strong demand for properties in Dubai has enabled landlords to significantly increase their rents in recent months and this is having a knock-on effect in neighbouring emirates.Cluttons has revealed that many people looking to relocate to the UAE have been priced out of Dubai and are instead heading slightly further north to Sharjah, the National reports.This has inevitably led to rising rents in the smaller emirate, with property brokers confirming that rates have soared by 15 per cent in the last six months. Experts also predict a further 15 per cent increase in the second half of 2013.In more exclusive parts of Sharjah, landlords are demanding rents that are almost at the same level as those charged in 2007 when the real estate market was booming.Shane Breen, associate director at Cluttons in Sharjah, told the news provider: “Landlords are taking advantage of higher rents in Dubai and tenants are paying.”He added that the massive demand for rented accommodation in this particular emirate has caught the attention of property investors.”Investors are not looking to develop their own projects at the moment but we have seen a number of these people coming in and buying existing buildings,” Mr Breen was quoted as saying.It does not take long at all for Sharjah residents to travel into the heart of Dubai and there is every chance that transport networks between the two emirates will be strengthened in the near future.Migrants continue to flood into the UAE in search of better job opportunities and a more relaxed way of life, which is having an impact on property availability.Farouk Soussa, the chief economist in the Middle East for Citigroup, told the same news provider that he expects Dubai house prices to go up by 35 per cent this year and rental rates will rise by a similar amount.His comments came shortly after the Dubai Statistics Centre confirmed that property prices increased at their fastest rate for more than three years in April 2013.The First Group can help you find perfect properties in the UAE Continue reading
