Dubai Pearl Still Shining Bright

Despite the current slow down in the Dubai real estate market, some developments are still maintaining a very healthy level of interest from buyers and investors. Whilst the attraction to invest in some development may not be what it once was, for the likes of the Dubai Pearl things are relatively unaffected. The development has once again been in the news with the announcement of the award of a $2.4 billion contract to construction firm Al Habtoor-Leighton. The 3 and a half year contact is reportedly the largest single contact issued in the Middle East and possibly the world, and work for the development should commence around January time. So even now, Dubai still continues its assault on taking over the world of real estate in the Middle East and beyond. And the Dubai Pearl is certainly a shinning example of this. Why so?

Well firstly you can start with the size of it, as with 4.57 million square meters of space up for sale, it is some three times larger the Pentagon building in the USA. The mixed use development is situated at Dubai harbor and will look out over Nakheel’s groundbreaking Palm Jumeirah project. With four 73 storey towers offering both residential and commercial real estate plus a hotel and a 2000 seat theatre, the project looks to have most things covered, and should have something to offer all buyers, be it a luxury apartment or office space that they are seeking. And apart from views out over the Palm Jumeirah and to sea, the location places its right it the heart of property Dubai, and within easy access to a host of shopping malls, restaurants and 5 star beach front hotels. It is also within close proximity of Dubai Media city and Internet city too!

So Dubai once again serves up another tasty freehold real estate development! It might be easy to think that Dubai has already seen its best days, but things here are only just getting warmed up. Those looking for good long term investment should really not be worried by the current downturn, as the future of Dubai apartments and villas is still looking strong, and long term the market here will only continue to grow.    
 

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