Another continent, another culture… There are many myths about the Emirates, especially the huge number of them connected with real estate. Some myths have a background, some are completely unfounded. Still, the first to keep in mind is that the real estate market in Dubai is on the peak of its flourishing and offers incredible unique housing options. In this article we will destroy the popular myths using the property in Bluewaters Island in 2022 as an example.
To start with, Bluewaters Island is a new man-made island located opposite the Dubai Marina. The territory of the island is divided into five zones: residential, commercial, entertainment, hotel and beach. In the central part there is the world’s tallest Ferris wheel Ain Dubai, and in the shopping and entertainment zone there are more than 200 stores, restaurants and cafes.
Bluewaters Island is located in an Arab city with only Muslims, sheikhs, and women in black
In fact, Dubai is probably the most “Western” and democratic of all Arab cities. Only 10% of the local population live in Dubai, while the remaining 90% are foreigners, people from all over the world, with their own cultures and traditions. No one is forcing them to change their customary way of life, and besides, it is simply impossible to impose all the orders of the locals on such a huge number of people, even if they want to.
High investment return and possibility to build prolific business in one of the most developed countries attract foreigners to the neighbourhoods of Dubai, especially to Bluewaters Island. The representatives of the local population you will meet only in public offices, shopping malls or other crowded places. Of course, the cultural traditions and characteristics of the UAE’s indigenous population must be respected, including in Dubai. In particular, during the Muslim holy month of lunar fasting, Ramadan, which is once a year, restaurants and cafes will be closed all day and will only open after sunset.
It’s hot in Dubai all the time and there’s nothing to do
345 days a year are sunny in Bluewaters Island. The temperature in summer is often above +40 ° C. But in winter the average temperature does not exceed +25 ° C. The sea temperature practically never drops below +25 ° C. Needless to say, that in Bluewaters Island, with its developed infrastructure and quality of life, there are air conditioners even at the bus stops, so even in summer you won’t suffer from heat and stuffiness.
There are several reasons why people come to the area and what they do there:
– work and earn money – big number of foreign companies have offices in Dubai, so there is an abundance of job opportunities.
– making business – Dubai is located on the crossroads of air and sea trade routes between Europe, Africa and Asia and rightfully claims to be the largest centre of business activity in the Middle East. It has practically everything for that: free economic zones, where regional headquarters of leading international companies are located, the largest sea port in the region with modern infrastructure, the current Dubai International Airport and the new Sheikh Maktum Airport.
– enjoy life – shopping centres, which have everything, even ski slopes and ice rinks, water parks, absolutely “space” subway are present. World-famous sporting events and international exhibitions are regularly held here, and popular international artists come to perform.
3. Buying property in the neighbourhoods in Dubai is unprofitable because of the world`s situation
Dubai real market boasts of perfect stability and economic strength. Foreign investors put their money in already finished as well as off-plan property. As for the return on investment in housing on Bluewaters Island, the average rental yield for 1-bedroom apartments is about 6.2%, 2-bedroom – 5.8%, 3-bedroom – 5.9%. The highest ROI is recorded for apartments with 4 bedrooms – 7.1%. According to the idea of the project developers, the new man-made island should become one of the main centres of tourist attraction not only in Dubai, but also in the entire Middle East. It is expected that the area will be visited by up to 3 million guests a year.
Real estate agency in Dubai
Ax Capital is glad to introduce a vast selection of stylish apartments from famous developers. Visit the website and contact the specialist to get more information about the property in Bluewaters Island. Do not hesitate to make the correct choice for your future.
This is a collaborative post.