Dubai, one of the seven United Arab Emirates, is considered to be one of the most desirable real estate opportunities in the world. Dubai is growing fast, with one-third of the cranes in the world currently being used to build property in Dubai. Dubai has also been rated by Interpol as one of the safest countries to live, which many may find hard to believe from what they have heard about the Middle East. Fortunately, none of that applies in Dubai. This little country strategically located at the crossroads of Europe, Asia, Africa and the Middle East is fast becoming the premier vacation, tourism destination and real estate investment oppurtunity of the region. Over the past decade, the number of visitors to Dubai has grown from 1.08 million to 5.4 million, representing a growth rate of 16% per year. This rate of 16% is 3 times the world tourism growth rate for the same time period. More astonishing is that the past 5 years alone have supplied a 54% growth rate. Over 3.4 million tourists visited Dubai in 2001 and this figure is expected to grow to an excess of 6.0 million by 2010, forecasting 200,000 visitors a day. It is also estimated that it will take 6-10 years for the supply of hotels to catch up with demand. This is surprising considering there is currently an estimated $80 billion in real estate projects underway...
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