As Dubai is coming out of the hovering clouds of recession, the investor confidence in Dubai properties business is witnessing steady but calculated growth. Though the wounds of recession are yet to be healed but due to Dubai Property unprecedented growth in the last decades the future seems bright and prosperous.
The UAE government is wholeheartedly giving support to the real estate sector to establish the confidence of investors. The recently announced plan about the grant of relaxation in the period of real estate construction is a right step ahead. Khaleej Times one of the most famous newspaper of UAE reported on June 7 2009 that “His Highness Shaikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice-President of the UAE and Ruler of Dubai, has announced an additional five-year extension time for construction on the property granted for UAE nationals.UAE citizens who have acquired land from the Mohammed bin Rashid Housing Establishment (MRHE) will get an extra five years to construct on their land. The same rule applies to UAE nationals who have purchased their land before the founding of the housing establishment, said Sami Gargash, Executive Director of the MRHE, according to a statement on Saturday. The period would otherwise have ended by February 2010”.
The UAE government is wholeheartedly giving support to the real estate sector to establish the confidence of investors. The recently announced plan about the grant of relaxation in the period of real estate construction is a right step ahead. Khaleej Times one of the most famous newspaper of UAE reported on June 7 2009 that “His Highness Shaikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice-President of the UAE and Ruler of Dubai, has announced an additional five-year extension time for construction on the property granted for UAE nationals.UAE citizens who have acquired land from the Mohammed bin Rashid Housing Establishment (MRHE) will get an extra five years to construct on their land. The same rule applies to UAE nationals who have purchased their land before the founding of the housing establishment, said Sami Gargash, Executive Director of the MRHE, according to a statement on Saturday. The period would otherwise have ended by February 2010”.
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