Search results
Results from the WOW.Com Content Network
Real estate is a significant contributor to Dubai's economy, accounting for a substantial portion of the city's GDP. [1] Dubai's real estate market has experienced growth and transformation, driven by the city's rapid economic development, strategic location, and urban planning. Real estate is a driver of Dubai's economy. [1] The city's real ...
2009 Dubai housing crash was a major economic crisis that hit the Emirate of Dubai, one of the seven emirates that make up the United Arab Emirates (UAE). The crisis was sparked by the 2007–2008 financial crisis, which severely impacted Dubai's economy, particularly its real estate sector. [1]
A 2022 study by economists who had access to leaked Dubai real estate data on 800,000 properties found at least $146 billion in foreign wealth invested in the Dubai property market, which is twice as much as all the real estate held in the United Kingdom by foreigners through shell companies.
Portugal. This coastal European country is the latest trendy travel destination—and is quickly becoming a popular place to buy a second home. It’s cheaper (for now) than many other Western ...
Dubai has been described as "one of the most opaque financial hubs in the world", and one of the most popular destinations for illicit money. [1] According to Brussels Times, the leak revealed "a huge black hole in international anti-money laundering efforts centered [sic] around the Dubai real estate market". [4]
The housing market is poised to be a mixed bag in 2025, with reduced interest rates, shifting demand and other economic and societal changes affecting the market, according to a new report from...
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
The emergence of Dubai's lively real estate market was briefly checked by the global financial crisis of 2007–8, when Dubai was bailed out by Abu Dhabi. [31] The recovery from the overheated market led to tighter regulation and oversight and a more realistic market for real estate throughout the UAE with many 'on hold' projects restarting.