The UAE’s regional financial capital Dubai is now the most affordable market in the world for luxury properties as its average price decreased by 84 percent since its peak five years ago. Real estate analysts forecast a continued decline in Dubai real estate this year due to increased supply and the general softening of the real estate market and a weaker economy.
The estimated budget for the Dubai Expo 2020 in terms of irrigation and landscaping projects is Dh277 million. Dubai’s plan for greenery and water features of the Expo will commence in October 2020.
Political tension in Dubai resulted in a continuing decline in gold prices. Prices of 22 and 24K gold are up. 22K gold is at AED162.25 compared to AED161.25 in the past weeks. 24K, on the other hand, rose at AED172.75 from AED171.50.
Dubai has become a more affordable country in 2019 to invest in particularly for expats. There are several factors that contributed to it: a continuous decline in rent, reduced fees, and fines for the government, a drop in grocery prices, lower prices in dining out, and a freeze in its school’s fees.
Dubai Creek is the cradle of Dubai’s heritage. This was the original lifeline of Dubai before it became what it is today. This was a natural harbor and bustling with activities like fishing, trading, and pearl gathering.
The World Expo 2020 is also known as the World’s Fair. It is the world’s oldest international event and it is also considered as the largest gathering of people in the world.
Take a look at what’s new in Dubai and the UAE on October 22 to 28, 2018. Here’s for the latest business news:
More exciting news from Dubai and the UAE this week to give you significant updates. Here are some not to miss tidbits that can influence the way you do business: