More and more United Arab Emirate states are moving into the property sector following the phenomenal and continued success of the brand new property market in Dubai. On behalf of investor members, TheMoveChannel.com has negotiated Pre Launch access to the latest off shore re-claimed project in the UAE – Dream City. The Pre-Launch Early Investor Presentations are to be held in Central London starting next Tuesday with reservations to be taken at the event.

VENUE: 60 Lombard Street, London EC3V 9EA
TIME: 1800hrs
DATE: Tuesday 1st March

The property investment market in the Gulf Region is now worth some $150bn according to a report prepared for Cityscape 2004. It revealed that the growth in residential construction and foreign ownership in Dubai and the newer markets, such as Umm Al Quwain, where Dream City is located, has contributed to a doubling of the market’s value over recent years.

The Gulf region continues to develop more new hotels and resort developments year on year than any other continent. Leading the way in the development of the tourism and leisure market is the United Arab Emirates, which is now regarded as one of the most forward thinking and futuristic business and leisure hubs on Earth. The prolific transformation of the Middle East has been conceived and continues to emanate from the dramatic growth of Dubai in particular. With over 400 existing hotels and a booming construction sector, Dubai continues to offer offers vast opportunities to private and corporate investors. However, as neighbouring emirates react quickly to demands from the burgeoning property market, huge profits are available for early bird investors.

The Dubai real estate sector is barely two years' old. Getting in at the ground floor of a new property market certainly has its advantages and they include:

• Prices are inexpensive by comparison to other similar trading hubs around the world, and are up by more than 20% in the past two years.
• There is scope for a substantial further rise, and certain properties have doubled in value already.
• UAE property is opening up to any investor from anywhere in the world with fantastic incentives on offer such as full Residency and Tax Free living.

Demand for property typically picks up during an economic boom such as the one being seen in UAE now. With massive projects such as the Dubailand theme park, Palm Islands, Dream City and Dubai International Financial Centre coming to fruition, now looks a wise time to consider investing in UAE real estate.

Ocean re-claimed off shore developments such as ‘The Palm’ and ‘The World’ have created an oasis of new land and opportunity in the Middle East. Demand for property on these awesome parcels of real estate has quite simply swamped the supply.

The latest and perhaps the most exotic of these enchanting ocean reclaimed developments lies about 30 minutes from the centre of Dubai City in the neighbouring Emirate of Umm Al Qwuain. Dream City will be like nothing else on this Earth, a miraculous oasis of paradise villas, which almost seem to float in the water. Seen from the sky, Dream City is shaped like a giant eye, with eyelashes extending into the sea in the forms of fronds. Each of these fronds will be sprinkled with 4,000 sq ft villas on each side, and every villa comes complete with its own yacht mooring. Villas at Dream City are being offered at a pre-launch price of $607,000 (£317,000) Units available on the only slightly comparable development in the world - The Palm in Dubai - was initially offered at around the same price, and within a few short years these prices have trebled. Early investors, particularly multiple purchasers will reap huge financial rewards and as with the Palm it is expected that properties will sell three or possibly four times before they are even completed.

Also available at Dream City are spacious one and two bedroom apartments (all sea facing), priced from $204,000 (£106,000) and 2,000 sq ft townhouses, starting at $292,000 (£152,000). However as not all of the Townhouses have a waterside setting you will have to be quick to secure the best property at the best price.

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More about Dream City…

An advantage to buying in Dream City is the payment schedule. Unlike Dubai, where properties have to be paid for across the duration of the development, investors can initially pay a fully refundable deposit of 5%. 30 days later, they must pay an additional 30%, but after that no payment is necessary until completion, which is due for late 2007.

Indeed, this works out very favourably for major investors, who can buy a block of six apartments for an initial price of just $446,000 (£233,000), with the balance not due for another two years.

So what are the advantages to buying in Um Al Quwain?

To begin with, Dubai’s population is set to at least double, if not treble, over the coming years, and the city cannot hope to accommodate this level of expansion. Add to this that Um Al Quwain is, if anything, even more open than Dubai, and that is something to really consider.

The properties at Dream City are available 100% freehold, and every purchaser gets a lifelong residency visa for the Emirate. If the houses and apartments at Dream City constituted the entire development, they would make for a very attractive proposition. But there is so much more being built on that eye in the sea. A championship golf course (of which purchasers get lifelong membership) four hotel complexes, two marinas, a flying club with mini-airport, an equestrian centre and racecourse, polo grounds, a water park and simply the best in Tax free shopping.

Dream City will be a self contained resort which makes re-sale and letting that much easier (returns of between 12% and 15% are being projected.)

There are really no opportunities in the world quite like Dream City, just as there are few markets which offer as much as the UAE.