Dubai has an attractive residential development called the Dubai Marina. It must have more than 100 high class apartment blocks, with excellent restaurants, shopping, recreational, sports and other facilities. It now has a Metro station which can bring the residents to the places of work in the financial and business districts along Sheik Zayed Road. There are many large shopping malls along the Metro line. This locality is quite attractive for expatriates.
There are also many new, top end residential apartment blocks located near the offices, for people who prefer to live close to the office.
The modern lifestyle in Dubai can be quite attractive. Most people are put off by the hot climate, but I found that the hot summer was quite bearable for short stays outside. Most of the time, the people are in air conditioned office, homes and cars. The other seasons are pleasant. The Metro trains and shopping malls in Dubai are not as crowded as Singapore.
Tan Kin Lian
Hi Mr Tan,
ReplyDeleteFrom personal observation & interaction with Dubai's residents, how is the overall business / economic climate over there?
From the late 2008 financial meltdown, I have read of property prices collapsing in Dubai and thousands of expats running-road and abandoning their million-dollar condos. Followed by news articles of many buildings left half-completed and/or empty.
I suspect prices and situation have bottomed in Dubai, but any longer recovery still depends on overall world economy and demand for oil which will help surrounding economies like Abu Dhabi and Saudi Arabia which in turn will help support Dubai itself.
Dubai survives on Abu Dabi patronage, else the country would have collapsed long ago, its expatriate staff are greatly reduced, and surprise, surprise, they are setting offices and residents in Singapore. One family rented my house in Singapore, and surprisingly their housing budgets
ReplyDeletegiven by their Arab companies are very high by Singapore standards.
So landlords peal your eyes wide open, and aim for the Arabs, Arabian Companies, but European employees and tenants.
I talked to an expatriate working in Dubai. She lived in Dubai Marina and developed business over the UAE.
ReplyDeleteShe said taht several apartment blocks at the Marina are empty and that rentals had fallen by 50%. The roads are less crowded.
Business is starting to return to Dubai, but this will take another two years to recover.
New investors are coming into Dubai, as the previous investors had been burnt.
The assessment is that Dubai will recover and life will be better.