Since 2002 Al Dubai has experienced massive expansion in terms of population as well as the economy of the region. This has mainly been fueled by incentives put in place by the governing ruler of Al Dubai.
The main change in legislation back in 2002 stated that non-domiciles (people not domestic to the region) could own property freehold in Al Dubai. Of the seven Emirates in the U. A. E Al Dubai was the first to adopt this and have reaped the rewards of their bold action's.
The main reasoning behind their move was to try and diversify the economy mainly away from the dependence purely on oil and look at other sources of revenue in order to sustain the Emirate in the future. Massive outside investment has been poured into spectacular developments all across Al Dubai and the resultant effect has been a massive increase in employment opportunities as well as a massive appreciation in the value of the property value's.
Al Dubai has been benefiting from this aggressive rise in the value of real estate for several years now and some are starting to report a slow down as the market saturates in this specific Emirate.
This is one of the reasons that investors have started to turn to other Emirates that many believe are set to emulate the success of Al Dubai. One such example of an Emirate that is poised for similar growth is the Emirate of Al Ajman 12 miles north East of Al Dubai. The prices in this Emirate are still less than a third of what they are in Al Dubai and with a Marina and a new $60 Billion city in construction most agree that this Emirate will present vast opportunities for property investors.
Portmill Estates is a specialist property agency which identifies opportunities primarily in the U. A. E for global investors seeking aggressive returns in their properties portfolios. To view lucrative property opportunities in the Emirate of Ajman Click Here