The Real Estate Property Site

The Dubai real estate market is now the second most expensive in the world, right after London’s West End, according to a recent report by Economy Watch (HC Securities Bulletin). Rent rises are forecast to go upto 20% in 2008 – rent caps put into place in various areas including Dubai have done little to combat the inflation.

Dubai is famed for its innovative and sometimes crazy real estate developments – here is a video showing some of these real estate developements.

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Burj Dubai (Arabic: برج دبي “Dubai Tower”) is a supertall skyscraper currently under construction in Dubai, United Arab Emirates. It is currently the tallest free standing structure in the world according to its developers, surpassing the CN Tower in Toronto, Ontario, Canada which previously held the record for 32 years.[4] When it is completed in late 2008, it is predicted to be the tallest man-made structure in the world, as well as the tallest building by any measure. Scheduled for occupancy in September 2009, the building is part of a 2 km² (0.8 sq mi) development called ‘Downtown Burj Dubai’ and is located at the “First Interchange” (aka “Defence Roundabout”) along Sheikh Zayed Road at Doha Street.

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The World is a man-made archipelago of 300 islands in the shape of a world map currently being built off the coast of Dubai, United Arab Emirates. The World is one of a series of artificial island projects in Dubai, along with the Palm Islands, and like the other islands The World is being built primarily using sand dredged from the sea. The World is the brainchild of Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai. Each island ranges from 23,000 m² to 84,000 m² (250,000–900,000 square feet or 5.7–21 acres) in size, with 50–100 m of water between each island. The development will cover an area of 9 km in length and 6 km in width, surrounded by an oval breakwater.

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Another amazing set of developments in the Middle East region are the Palm Islands project in the city of Dubai, UAE. The Palm Islands are the three largest artificial islands in the world. They are being constructed by Nakheel Properties, a property developer in the United Arab Emirates. The islands are The Palm Jumeirah, The Palm Jebel Ali and The Palm Deira.

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An amazing development from the Kingdom of Bahrain. This is very similar to the Palm projects in Dubai, UAE. According to the official website, ”It is named after the most perfect pearl and sets out to be a model city resort of life as it should be in the 21st century”. The Durrat al Bahrain spreads across a stretch of reclaimed desert and sea near the southern tip of the island just 35 minutes from Manama, the capital of Bahrain on the proposed new dual carriage highway. It is set to become the country’s largest city resort and a landmark project that will position Bahrain as a premier tourist destination.

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Real estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate.

With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. Some kinds of real estate businesses include:

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