Panoply of Possibilities

Iridescent Old-Arabian nights protract into mornings. Serenity and opportunity waits around every corner. Inhibitions slide, your senses take over. You are being welcomed to live the experience that is Dubai

A consolidated empire, laws that were codified, an emirate as glorious a metropolis as it has always been even in days of yore. Dubai is a place of old world protocol and sumptuous dining, of international businesses and sensuously beautiful souqs, of properties beckoning inhabitation and those that have already had their call answered, of encouraging investment markets and inviting business ventures.
I had expected to be intrigued by Dubai, and to admire it; I had not expected to be awed. It has absorbed an array of cultures and people and yet it is different from all of them. There is something immensely enigmatic for me about the shift one perceives, while delving into a place, from the past to the future, from the Bedouin way of desert dwelling nomadic life to the settled yet dynamic city life, from the opulence, majesty and quiet dignity of yore to the simplicity, ‘slim-line’ feeling and sleekness that only technology can bring. It is a gradation of sights, of structural design, of gradually retreating minarets intermingled with advancing glass buildings, of the very look of oases and sand dunes, so that little by little you begin to believe you can read in nature itself the saturation of history. Does the shoulder of an Arabian hillside really look so unlike the slope of an Indian meadow? Of course not. And yet the distinction is as impracticable to eliminate from the eye as the history that enlightens it is from the mind.
And it is not only reaching back into history that tells of a place or people gone by; sometimes history itself reaches inexorably forward for us to tell us where we are going. Dubai has been making leap after quantum leap. After all, a gateway to the East and West means opening up of new vistas and access to places, international businesses, ventures, and people.
Tourism is obviously a major industry here. Says Pravin Nanda, GM Dubai Grand Hotel, “People visit Dubai for 4 reasons. One is historical; for Pearl Diving, the heritage village, to feel a taste of the rustic Arabian charm. Secondly they come here to experience the sights and sounds, the beautiful places engulfed in beauty. People also come here for the security that Dubai provides. One can walk the streets at 3 or 4 a.m. and be absolutely safe. People don’t even lock their cars. It is safe for women. And the crime rate is very low. Fourthly and definitely not the least of the reasons is for shopping, to get the best deals on the best products.”
This also leads to the booming of other industries like the Hotel Industry which should double up by October 2007 and where everyone gets good value for money.
When oil was discovered in 1966, Sheikh Rashid made use of these revenues to stimulate infrastructural expansion in Dubai. The swiftness of development continued at a fever pitch. Project after project left the drawing board to make the impossible into a possible phenomenon. The World, Burj Dubai, the Hydropolis, the Restless Planet theme park, Ski Dubai, The Mall of Arabia, are all either a reality or will soon leave the drawing boards.
With so many new projects being conceptualised and executed investment in property becomes the thereby subsequent step. Syed Ali Anwer, CEO, 3D Venture Real Estate Company explains, “Dubai is Duty Free, crime free, tax free, offers security and safety. It has world class shopping malls, a multi cultural society, best medical and health care, holiday resorts, sports facilities, entertainment centres, an innovative, dynamic and entrepreneurial business culture. Dubai is politically stable and has a forward-looking responsive Government with business friendly regulations, which has played a key role in attracting business investments from all over the world.” “Invest. But invest now. As it is the right time to get on the boat”, reiterates Syed Ali Anwer.
The question being asked today is, ‘Is there an upward momentum in terms of property prices or is Dubai still low-priced and economical?’ Fact of the matter is that it will continue moving upward but the property prices still offer a very good bargain compare to the world’s cosmopolitan cities. Statistics show that the demand due to promotion is too high and will keep increasing even if supply is met thus producing a major hike in the pricing. It will take time for correction to take place and prices to come down to normal. The curve will take at least 5 years to come down but the future will see stability from 2012 onwards and by 2017/2020 correction will occur. To keep up with all this, it is sensible for any investor to invest now and thus not be at a loss. Thus putting to rest any fears that the prices will continue rising and demand may never meet supply.
Dubai is now no more a one stop weekend paradise but a place where one can indulge, invest and even provide incentives for others. From tourism to property to infrastructure, from markets to boardrooms to your very own living room, Dubai epitomizes the phrase, “Even the impossible says I’M POSSIBLE”.

Pas a Pas se va luènh