Fujairah Holiday Homes Eyed by Asian Property Speculators

An article today in the Bangkok Post (Money Section) is drawing the attention of its readers to property investment opportunities in the UAE.

With quotes from a Dubai property expert visiting Bangkok, Asian speculators were told these things:
* Those investing in Dubai’s Palm and the World projects have already made a handsome 100% profit
* It is easy to invest in the UAE property market
* There are some great investment opportunities
* Dubai has some freehold allocations for foreigners which come with residency visas
* Big changes are happening in property investment within a 90 minute drive from ‘the Singapore of the Middle East’

Stephen O’Brien elaborated on this last point:

“Things are changing with new coastal areas now emerging in the other emirates of the UAE that are seen as good second-home locations. One can pick up a beautiful holiday home 90 minutes outside Dubai for 10 to 12 million baht.” [See below for currency conversion]

“What we are seeing now is that people are saying, 'Okay, we've invested in Dubai but now we have to look at secondary locations.' But they are all looking within the emirates, within the UAE, good locations on the coast.”

With construction just started on the new highway between Dubai and the east coast, there could be in the next ten years a property and population boom in Fujairah and other coastal cities, not just taking the overflow from Dubai but the influx of investors from international regions including Asia.

Whether this happens or not will depend upon the leaders of each emirate deciding to relax property laws, as has happened in Dubai, to allow foreigners to purchase property and build homes.

The full article can be read at this link:

Nina Suebsukcharoen, ‘Dubai Continues to Build on Strengths’, Bangkok Post, 22 October 2007.

Currency: 10 to 12 million baht is today worth US$ 317, 369.00 to 380, 959.00 or AUS$ 380, 959.00 to 432, 602.00