UAE Real Estate Market Experiencing Unprecedented Growth
Once lagging behind the face pace of development of other world trade centers, the Abu Dhabi real estate market is presently experiencing an unprecedented boom. Ranked as one of the richest cities in the world, Abu Dhabi presents a diverse array of prestige properties. From luxury villas to sleek office complexes, prudent foreign real estate investors are capitalizing on market incentives that encourage investment and development.
Oil production fuels the economy of the area. To encourage exploration, development and production of this vital resource, Abu Dhabi has lifted many trade barriers and foreign exchange controls related to the real estate industry, opening wide the doors of opportunity to savvy entrepreneurs from every background and culture worldwide. The energetic, cosmopolitan city’s development is still in its infancy; young and vigorous while offering an excellent per capita income, steady growth, economic stability and a firm financial and social environment. Market research predicts the current growth and development trend will last for decades returning a solid and quite attractive return on investment.
Both the Abu Dhabi and Dubai real estate markets have shown a steady upward growth pattern since 2009 as reported by the World Property Channel. Gulf Business reports, “Abu Dhabi’s residential market experienced slower supply growth with an increase of five per cent in 2013, coupled with an increasing demand for prime locations.”
The International Property Show to be held in April 2014 will showcase elegant private homes, exclusive resort properties and a broad spectrum of key commercial sites; prime investment venues for international investors.
The World Property Channel notes, “Dubai's prime residential property is forecast to record the world's highest growth in prices in 2014, according to Knight Frank's global forecast. In 2013, Dubai posted the largest increase in luxury property prices, growing by 20 percent. In the third quarter, consulting firm Cluttons reported a 53 percent yearly increase in Dubai's residential prices, as confidence grows in the real estate sector.”
Under the guidance of its founder and CEO Tej Kohli, Ozone Real Estate is a well-established major participant in the development of the region. Tej Kohli notes, “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 efforts are directed through the entirely self-funded Tej Kohli Foundation. As is his practice with his other business interests, Mr Kohli is always seeking new opportunities where direct, targeted, charitable support will positively change people’s lives.