Why Dubai is the model of a modern Middle East economy


In less than a century, Dubai evolved from a small desert to a world-renowned metropolis that hosts some of the most spectacular buildings in the world and which offers its residents the highest standard of living on the planet.

In recent years, Dubai has grown to become a model of the modern Middle East economy. The secret to its success is present in every millimeter of its development and it consists of innovation, forecast, and healthy investment. Here are some of the aspects that make Dubai stand out in the crowd:

1: Giving up on oil dependency

Dubai’s evolution can be placed in the local oil industry. However, the authorities have long understood that the oil resource will not last forever. To prevent Dubai’s present magnitude from collapsing, they decided to overcome oil dependency and invest in more reliable sources of income that will still be relevant in the future.

One of the most profitable activities in Dubai takes place in the real estate sector. The rapid speed at which the city is expanding creates a constant demand for new property. The top real estate brokers in Dubai work endlessly to come up with reliable solutions that will benefit both the local and foreign investors.

2: Providing a stable business environment

To boost the profitability of the real estate industry, the local authorities have legalized foreign ownership of property in Dubai. Now, people from all over the world can buy a house in a luxurious area of the city like Port de la Mer by Meraas, which is an affluent neighborhood ideal for foreign residents who want to settle in the UAE.

Buying a home in Dubai is not the only type of business that is safe and supported by the state. There is a myriad of commercial activities that you can engage in and get a reasonable return on your investment in a relatively short period.

3: Reliable business partners

Dubai is aiming to attract as many foreign investors as they can. In this regard, they only license reliable businesses that can support the enterprise of financiers from abroad. Major companies and trustworthy contractors offer their professional services to anyone who wants to invest in the Dubai real estate market.

4: Moving to Mars

Dubai is planning to send a probe to Mars as early as 2020. Their plans for space colonization do not stop here. They are already testing how people would live on the “Red Planet,” and while the top real estate brokers in Dubai are currently busy with the local market, they might soon build interest for the interplanetary market, too.