Affluent globetrotters, jetsetters, celebrities and enlightened entrepreneurs are flocking to purchase property in Dubai, the golden “City Of The Future.” Prime properties in Dubai are forecast to see the largest price growth in 2014, according to Knight Frank’s latest Prime Global property forecast.
The Emirate of Dubai continues to think outside the box, building spectacular new projects that bobble the imagination. The Wealth Report 2013, produced by Knight Frank, a global property company, revealed that Dubai’s prime luxury properties were 10 times lower than Monaco, the world’s most expensive residential property market. Savvy investors are participating in the current boom in Dubai, knowing that the magical cosmopolitan city is fast replacing Monaco as the place to “see and be seen.”
To further propel the stellar growth of the emirate, after several years of planning and negotiations, Dubai won the successful bid to host World Expo 2020. International businesses are relocating to Dubai and construction of new hotels; condos, malls and entertainment venues are springing up in anticipation of the 25 million visitors expected to attend the expo. World Expo 2020 is predicted to generate over $40 billion dollars in revenue.
With an economy that was once dependent on petroleum production, Dubai has diversified and is experiencing rapid grow in all sectors of the economy including tourism, trade, finance and real estate.
Financial analyst say now is the time to buy; yesterday would have been better. Prestige high-rise condos and luxury residential villas in the emirate are expected to rise by between 10 and 15 percent next year despite the introduction of new measures designed to curb rising property prices.
Compared to other international trade-hubs, investment in the real estate market is especially attractive to foreigners who note that real estate price growth in Shanghai, Sydney, Beijing and Paris is forecast to only be between 5 and 10 percent in 2014, while London’s best prime property prices are expected to increase by less than 5 percent over the next 12 months. Dubai is the place to be.
While Dubai attracts investors from all around the world, the majority of players in the Dubai real estate market are from Oman, Qatar, Saudi Arabia and other parts of the UAE. However investors from the UK, Germany and India rise high on the list according to figures provided by the Dubai Land Department.
India born self-made billionaire businessman Tej Kohli is one of the major players in Dubai development, holding participation in many of the emirates most ambitious projects. Mr. Kohli’s remarkable business acumen was clearly demonstrated by his decision to establish a real estate brokerage in Dubai in 2008; a time of global financial crisis and a marked downtown in the Dubai marketplace. Mr. Kohli recognized that the trend in the Dubai real estate market was cyclical and demonstrated a backbone strong enough to successfully carry his company through what for others was a major crisis.
Today, Ozone Real Estate is internationally recognized as a leading force in the Dubai Real Estate Market and stands ready to help find investors the ideal property for their business purpose and investment goals.
Under the visionary guidance of its founder and CEO Tej Kohli, Ozone Real Estate of Dubai is a well-established financial brokerage poised to assist investors in pursuing investment opportunities in the UAE. Tej Kohli noted, “I started the Ozone Group in 2008 as a company that would help investors make maximum profits from the investment opportunities in Dubai and Abu Dhabi. After five years of rigorous business Ozone Real Estate is capable of offering all real-estate related services, the most popular being investment, sales and marketing management and property development. The company continues to expand with interests in commercial and residential property across the UAE, but refuses to compromise on the need for quality developments that will make life convenient and comfortable for the community. We are currently looking to expand our presence in Dubai, and we have our eyes on other equally prestigious markets around the world.”
Mr Kohli’s philanthropic contributions and public health initiatives are directed through the entirely self-funded Tej Kohli Foundation. As is his practice with his many other business interests, Mr Kohli is always seeking new opportunities where direct, targeted, charitable support will positively change people’s lives.