Monday 6 February 2012

Why rich investors are relocating to Dubai as a safe haven « ArabianMoney

If you go down to the Dubai Marina today you will find more than 430 yachts parked up, by far the largest assembly of such boats in the Middle East. Last year more luxury cars were sold in Dubai than at the peak of the real estate boom. Some 25,000 homes changed hands, almost exactly the amount of the supposed oversupply for the year.

So why are people moving into Dubai? Could it be the six-months of great sunny winter weather? The zero taxation of income and capital gains? The ultramodern urban infrastructure, or the cheap accommodation?

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