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Property is best investment in Dubai
DUBAI Property is the best investment in Dubai giving an average return between eight to 13 per cent, according to a senior official of Dubai Lands Department.
Majid Ajeel, head of transactions section at the Dubai Lands Department, said that since the beginning of the year the emirate has seen a tremendous increase in the sales of land in all the areas. He added that property in Dubai is the best investment available right now.
"During the war time, the best investment is property because it is not affected by external factors, while other commercial investments could be affected," he pointed out.
Ajeel also said that the current war tensions in the region has not affected the property prices in Dubai, where business has been usual. He also added that the increase in the sale of land reflects the trust people have in the value of property in the emirate.
" Most of the large-scale projects in Dubai are real estate projects," he said.
The Dubai Lands Department said that a 10-storey commercial building was yesterday sold in Al Muraqqabat area for Dh62.5 million. The building, which spreads over an area of 23,422 square feet, has two parking lots, two showrooms and a health club
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