The Importance of Sea View Properties in Dubai's Market
Intro
Dubai's real estate market is often spotlighted for its sheen and glamour, with its towering skyscrapers and sun-soaked beaches drawing both locals and foreigners alike. Among all the offerings, sea view properties have emerged as a particularly noteworthy segment. These properties not only provide breathtaking vistas of the Arabian Gulf but also infuse a kind of lifestyle that whispers ‘luxury’ and ‘exclusivity’ in every corner. There’s an undeniable allure tied to living by the water, which extends far beyond mere aesthetics. This article aims to unfold the various layers of significance that sea view properties contribute to Dubai's real estate scene, as well as the trends shaping buyer preferences and investment strategies.
Market Trends
Current Market Analysis
The demand for sea view properties in Dubai is on a steady incline, fuelled by both local and international buyers. Analyzing recent sales data reveals that areas like Dubai Marina, Palm Jumeirah, and Jumeirah Beach Residence consistently attract attention. Prices in these regions have seen a rise, reflecting the robust appetite for these unique properties.
A confluence of factors contribute to this demand:
- Tourism: With millions of tourists flocking to Dubai yearly, properties with sea views are highly sought after for short-term rental opportunities.
- Lifestyle Choices: There’s a growing preference among buyers for waterfront living, which is often associated with a luxurious, relaxing lifestyle.
- Investment Potential: Investors recognize the long-term value of properties that offer stunning views, as they often command higher resale values and rental income.
Future Predictions
As the landscape of Dubai continues to evolve, several trends are beginning to take shape. Notably, the Expo 2020 legacy will play a crucial role in attracting more people to the city, potentially amplifying interest in sea view properties. Furthermore, as urban development expands, there’s a likelihood of new waterfront properties entering the market, enhancing competition and possibly creating more buyer options.
Real estate analysts suggest that there will be an emergence of eco-friendly sea view properties, integrating sustainable living concepts which will cater to a more environmentally conscious clientele. Thus, the future could hold a blend of luxury and sustainability, setting a completely new paradigm in the market.
Property Types
Residential Properties
Residential sea view properties encompass a range of options, from lavish penthouses to cozy apartments, appealing to various demographics. These homes not only promise stunning visuals but often come equipped with various amenities:
- Infinity pools
- Private beaches
- Luxury gyms
- Concierge services
Such facilities offer an elevated standard of living, attracting families as well as young professionals.
Commercial Properties
Sea view properties are not limited to residential spaces; they extend into commercial domains. High-end restaurants, boutiques, and hotels capitalize on their scenic locations to enhance customer experience. Considerations for commercial properties often focus on:
- Brand image: A business located with a sea view can portray an upscale, premium position in the market.
- Customer attraction: Tourists and locals alike are more inclined to patronize establishments that offer beautiful views.
- Event venues: Properties with stunning settings can serve as sought-after venues for weddings, corporate events, and gatherings.
Prolusion to Sea View Properties in Dubai
In the bustling landscape of Dubai's real estate market, sea view properties stand out as a compelling choice for many buyers and investors. This segment of the market offers much more than the simple appeal of a picturesque vista; it embodies a lifestyle that many aspire to achieve. With the Arabian Gulf as a backdrop, these properties not only represent premium living but are also associated with potential financial benefits.
The unique geographical positioning of Dubai along the coast has led to the development of luxurious residential enclaves that place sea view properties at the forefront of desirability. It is not just about having a beautiful view; it's about enhancing one’s everyday experience. Properties with sea views often exude a sense of tranquility, which can lead to a more fulfilling living environment. A room overlooking the ocean not only invites natural light but also offers the calming sounds of the waves, creating a soothing atmosphere.
Moreover, potential buyers consider sea view properties as an investment. The allure of such homes extends beyond aesthetics; they tend to have robust resale values and attractive rental yields. Investors recognize that the demand for these properties remains strong owing to their desirability. As people increasingly prioritize lifestyle choices post-pandemic, proximity to leisure and recreational activities by the waterfront gives these properties an edge.
However, it's essential to approach this sector with a clear understanding of the various factors at play. Buyers should be aware of fluctuating prices influenced by market trends, and appreciate that maintenance costs can be higher for sea-front properties due to environmental factors like salt spray. Therefore, careful consideration is paramount when deciding to engage with this segment of the real estate market.
"A home with a sea view is more than just a property; it's an invitation to experience life differently, where every morning comes with a horizon that promises possibilities."
In summary, sea view properties in Dubai encapsulate a blend of luxury living and financial opportunity. Future sections will delve into the various dimensions of this market, exploring aesthetic values, psychological benefits, investment potential, and the challenges accompanying their ownership.
Understanding the Appeal of Sea View Properties
Sea view properties in Dubai hold a unique spot in the realm of real estate, appealing to a diverse array of buyers and investors. The charm of these properties goes beyond mere aesthetics. With the Arabian Gulf as a backdrop, they offer a lifestyle infused with both luxury and tranquility. In this section, we will dissect the various elements that contribute to the allure of sea view homes, including their aesthetic value and the psychological comfort they provide.
Aesthetic Value and Living Experience
The visual draw of sea view properties cannot be overstated. Nestled against the coastline, these properties treat residents to stunning sunrises and sunsets, shimmering waters, and the soothing sounds of waves crashing on the shore. Just imagine sipping your morning coffee while watching the horizon dance with shades of orange and pink. It’s a routine that transforms the mundane into a delightful experience, instilling a sense of peace and contentment.
Moreover, having a sea view enhances the overall living experience. Properties with such views often come with larger balconies, expansive windows, and innovative design elements that enhance indoor-outdoor living. This connection to nature—being able to feel the sea breeze and hear the water—creates a unique ambiance that can't be replicated in typical high-rise apartments with no views. The architectural integrity tends to be higher, with developers focusing on maximizing scenic sightlines.
Psychological Benefits of Coastal Views
Living with a view of the sea isn't only good for the eyes; it can work wonders for mental well-being as well. Research suggests that being near water can reduce stress and anxiety levels. For many, coastal environments serve as a refuge from the hustle of city life—the soothing sound of water can act as a natural form of therapy.
The health benefits of living near the coast can also extend to increased overall happiness and life satisfaction. People are often drawn to the ocean for vacations, and owning a property that offers such an experience year-round creates a tangible sense of luxury and fulfillment. Furthermore, the 'blue space', which refers to the calming effect of bodies of water, encourages outdoor activities such as jogging along the beach, swimming, or engaging in water sports. These activities enrich the living experience and foster a healthy lifestyle.
"Owning a sea view property isn't just a purchase; it's an investment in a lifestyle that promotes well-being and serenity."
Market Trends Influencing Sea View Properties
Analyzing the market trends surrounding sea view properties in Dubai is crucial for understanding their integral role in the overall real estate sector. The dynamics of this segment often reflect larger economic conditions and societal shifts, particularly in a vibrant market like Dubai. Properties that offer a view of the sea are not just about aesthetics; they symbolize a lifestyle choice that often comes with investment potential and monetary considerations.
With an escalating interest in such properties, it is essential for investors, home buyers, and real estate agents to delve into current market trends. They not only reveal the pulse of buyer sentiment but also shed light on potential future market shifts.
Increased Demand Post-Pandemic
The COVID-19 pandemic has left an indelible mark on real estate across the globe, and Dubai is no exception. As restrictions have eased, an increased demand for sea view properties has been evident. Many individuals have reevaluated their living situations, leading to more buyers seeking homes that provide not just comfort but also a mental escape.
Factors contributing to this surge include:
- Remote Working: The normalization of remote work allows people to prioritize lifestyle over proximity to work. A property with a sea view offers a refreshing environment, turning home into a sanctuary.
- Health and Wellbeing: Coastal views are often associated with mental well-being. The natural light and proximity to beaches have amplified the attractiveness of these homes, drawing in buyers who value leisure and tranquility in their living spaces.
- Luxury Appeal: Post-pandemic, luxury living has gained traction. Buyers are willing to invest more in properties that provide both beauty and an elevated lifestyle, with sea views being at the top of many wish lists.
Shifts in Buyer Preferences
There has been a notable shift in buyer preferences, influenced heavily by changed lifestyles and a reorientation towards wellness and space. The following points highlight these emerging trends:
- Sustainability Focus: Buyers are becoming more conscious of environmental impacts. Properties that are designed with sustainability in mind, especially those near natural settings, are attracting more attention.
- Community Amenities: A sea view is often accompanied by well-planned communities offering ample amenities—supermarkets, educational facilities, and recreational areas. Buyers appreciate environments that foster social interaction and convenience.
- Safety and Exclusivity: With the thirst for secure living spaces heightened, properties in gated communities with sea views are gaining favor. This preference not only enhances the perception of safety but also ensures a premium lifestyle with lesser disturbance from the outside world.
"The allure of sea views now resonates deeply with lifestyle choices of comfort, safety, and community."
The patterns seen in today’s market underscore the importance for stakeholders to keep tabs on evolving buyer preferences while strategizing investment decisions. As Dubai continues to flourish as a real estate hub, recognizing these trends can make a significant difference in navigating this competitive environment.
Geographical Locations of Prime Sea View Properties
In the bustling real estate market of Dubai, the geographical locations of prime sea view properties stand out as significant determinants of value and appeal. The choice of location can dictate not only the price of a property but also its charm and livability. Properties with sea views often come with a sense of prestige and desirability, attributing to their surroundings.
Popular Neighborhoods with Sea Access
Dubai boasts several neighborhoods renowned for their stunning sea views, each offering a unique living experience:
- Dubai Marina: Known for its vibrant lifestyle, Dubai Marina features an array of high-rise buildings overlooking the dazzling waters of the Arabian Gulf. The promenade, lined with shops and eateries, enhances the appeal for both renters and owners seeking a lively atmosphere. With luxurious developments like the Address Dubai Marina, residents enjoy effortless access to both the beach and bustling recreational activities.
- Jumeirah Beach Residence (JBR): Famous for its beachfront living, JBR combines luxury with accessibility. The stunning sea views here attract families and singles alike, drawn to the lively community, shopping, and dining options right on their doorstep. The sandy beaches and glistening waters are ideal for those wanting a more relaxed life.
- Palm Jumeirah: This iconic man-made island represents luxury at its finest. Homes on the Palm, from stunning villas to upscale apartments, offer unparalleled views of the sea. Living on this island provides exclusivity but also a deep connection to the water, with private beaches and high-end amenities that attract those looking to indulge in a lavish lifestyle.
Residents in these neighborhoods not only relish the visual splendor but also the convenience of nearby amenities, from schools to healthcare facilities. The demand in these areas illustrates how important location is when it comes to sea view properties.
Emerging Areas for Investment
As Dubai continues to evolve, certain emerging areas show great potential for investment in sea view properties:
- Dubai Waterfront: This ambitious development is poised to become one of the largest waterfront projects in the region. It promises an eclectic mix of residential, commercial, and leisure spaces, making it an attractive area for investors keen on future growth potential. With multiple phases underway, properties here will benefit from a commitment to sustainability and community-oriented infrastructure.
- Bluewaters Island: Home to the famous Ain Dubai, this island is making waves in luxury living. The properties here not only offer breathtaking views but also access to entertainment and leisure facilities. With its rising profile, Bluewaters presents lucrative investment opportunities that could yield great returns in the coming years.
- Coastal Areas Beyond Jumeirah: As urban development pushes outward, neighborhoods like Al Mamzar and Jumeirah Village Circle are beginning to see new residential developments with stunning sea views. These locales offer less congestion and promising growth, appealing to families and investors looking for value.
In focusing on geographical locations, both the allure associated with established neighborhoods and the potential of emerging ones become apparent. Selecting the right area for a sea view property in Dubai isn’t just about aesthetics; it’s about understanding the dynamics of location that underlie real estate market trends and investment potential.
Investment Potential of Sea View Properties
When considering investing in real estate, sea view properties in Dubai emerge as a tantalizing option for many buyers. These properties not only offer stunning vistas but also promise a variety of financial benefits that can be appealing to investors. A blend of aesthetics and financial viability, sea view properties cater to diverse individuals looking for their next investment opportunity.
Long-term Appreciation Rates
Understanding the long-term appreciation rates of sea view properties is vital for any potential investor. As Dubai continues to evolve as a global hub for business and tourism, the demand for coastal properties is on the rise. Historical data indicates that these properties have seen a consistent increase in value, particularly in prime locations such as Dubai Marina and Palm Jumeirah. According to various reports, the market has recorded appreciation rates of around 8-12% annually in high-demand areas over the last decade.
Potential investors should keep in mind that while sea view properties tend to appreciate, the growth can vary based on certain factors, such as market conditions and location specifics. Key considerations include:
- Market Cycles: The real estate market is cyclical, and understanding these cycles can be crucial in determining the right time to invest.
- Local Development Projects: Upcoming infrastructure developments and amenities can significantly enhance the property values in the area.
- Economic Stability: The overall economic health of Dubai plays a critical role in driving demand for luxury properties.
Rental Yields and Forecasts
For investors who may not be looking for a permanent residence, the rental potential for sea view properties can be a significant draw. The forecast for rental yields remains robust, often exceeding those of other residential properties in Dubai. According to recent surveys, many sea view properties offer rental yields ranging from 6% to 10%, making them attractive to both local and international investors.
When it comes to rental forecasting, several factors should be taken into account:
- Tourism Trends: Dubai’s status as a tourist hotspot means that seasonal fluctuations can lead to a high demand for short-term rentals, particularly during peak seasons.
- Market Demand: The continued surge in interest for rental properties in sought-after areas suggests that rental demand is expected to remain strong.
- Management Costs: Although potential yields can be high, it’s important to factor in the costs associated with property management, maintenance, and operational expenses, which can affect overall profitability.
Real estate investment is not just about purchase price; it's about understanding value over time.
Challenges Associated with Sea View Properties
When discussing sea view properties in Dubai, it's crucial to acknowledge the challenges tied to this alluring segment of the real estate market. While the benefits of owning a piece of coastline are undeniable, potential buyers must navigate certain hurdles that can complicate their investment journey. Understanding these obstacles can help investors make well-informed decisions while navigating the picturesque yet intricate market of sea view properties.
Price Fluctuations and Market Volatility
The real estate market is often a reflection of broader economic conditions, and sea view properties are no exception. Prices in this niche can fluctuate significantly, driven by various factors. For instance, the demand for luxury living in waterfront areas can lead to brisk price increases during a market upswing. Conversely, during economic downturns, these prices might plummet due to reduced buyer interest or a surge in supply as developers try to unload inventory.
The coastal elegance paired with the economy's twists and turns means that buyers must remain vigilant. Regular monitoring of market trends can help prevent costly pitfall. It’s also worth noting that while some investors seek high returns quickly, sea view properties may require a longer holding strategy to weather the inevitable ebbs and flows of market dynamics.
"Investors should be prepared for price shifts and demonstrate flexibility in their strategies to align with market conditions."
Maintenance and Upkeep Considerations
Owning a sea view property is akin to having a ticket to paradise, but it’s not all sunshine and sea breezes. Maintenance can present its own set of difficulties. For instance, salt air can cause wear and tear on building materials, requiring homeowners to invest regularly in repairs and reinforcements. The proximity to the coast can also attract pests and necessitate, at times, the installation of additional precautions.
Moreover, while the scenic views might be captivating, they come with housing bodies that impose strict regulations on appearance and upkeep decisions. This can lead to extra expenditures, which some buyers might not initially account for.
Property management in these picturesque locations often involves consistent landscaping, cleaning of common areas, and management of community amenities that enhance the living experience but can spiral into higher recurrent costs.
Investors need to consider not only the purchase price but the long-term financial commitment that accompanies the maintenance of these homes. Solidly addressing these factors adds significant value to any smart investment strategy.
Legal Aspects of Purchasing Sea View Properties
In the realm of Dubai's vibrant real estate market, understanding the legal frameworks governing sea view properties is paramount. The allure of these properties can distract prospective buyers from delving deeper into the legal intricacies involved in ownership. Navigating the regulations ensures that your investment is secure, compliant, and beneficial over the long term. Buyers must remain informed about ownership laws and required documentation to avoid traps that could mar their investment journey.
Understanding Ownership Laws in Dubai
Owning property in Dubai, especially sea view properties, hinges on a well-established legal construct. The Dubai Land Department (DLD) plays a crucial role here. It oversees all transactions and ensures buyer rights are protected. Properties that afford foreigners ownership are typically in designated areas labeled as Freehold Zones. This means foreign investors can hold complete ownership, unlike leasehold options which may limit ownership tenure.
- Freehold Ownership: Foreigners can buy properties outright in specific areas like Dubai Marina, Palm Jumeirah, and Dubai Creek. This arrangement provides a sense of permanence to investors, making it a highly sought-after option.
- Leasehold Ownership: In areas not designated as freehold, foreigners can lease properties for up to 99 years. However, many investors possess a preference for properties classified under freehold due to long-term stability.
Moreover, there’s a necessity for buyers to understand the Strata Title which delineates shared ownership concepts for structures that house multiple units. This includes having a management body in place that looks after common facilities.
A buyer's local knowledge and consulting a legal professional familiar with Dubai’s property law can prove invaluable. Ultimately, this helps eliminate potential obstacles down the line, saving you from headaches once the exciting moments of ownership ensue.
Documentation Required for Buyers
When diving into the purchase of a sea view property, ensuring you have the correct documentation is no small task. The paperwork involved in such transactions can be quite overwhelming, but it is essential for a smooth buying process. Here are the essential documents needed:
- Passport copies: All buyers need to present their passports. For companies, a valid trade license is necessary.
- Emirates ID: If you are a resident and planning to purchase, having an Emirates ID streamlines the process considerably.
- Proof of income: This helps establish financial eligibility, which is particularly crucial if you are securing a mortgage.
- No Objection Certificate (NOC): This is obtained from the developer, confirming the property is free of dues and ready to be sold.
- Sales and Purchase Agreement (SPA): This legal mind-map details the sales terms and is crucial for ownership transfer.
Keep in mind, the purchased property must be registered with the Dubai Land Department. This step affirms the application of ownership rights and legal protection against disputes. Be prepared to pay a registration fee, which is typically around 4% of the property’s purchase price.
Generally, prospective buyers who arm themselves with knowledge about the laws and documentation surrounding property acquisitions in Dubai are better positioned to safeguard their interests and capitalize on the lucrative sea view property market.
Investing in real estate can be as much a legal journey as it is a financial one - stay informed to protect your investment.
For more information on property ownership laws, consult the Dubai Land Department at dubailand.gov.ae for comprehensive guidance.
The Role of Real Estate Agents
When navigating the intricate waters of buying or selling sea view properties in Dubai, real estate agents emerge as indispensable partners. Their knowledge of the market and seasoned expertise allow them to bridge the gap between buyers and the complex world of property transactions. This section sheds light on why engaging with a good real estate agent is not just beneficial; it is essential.
Choosing the Right Agent for Sea View Properties
Finding the right real estate agent can be akin to searching for a needle in a haystack. The stakes are high when it comes to sea view properties, with factors like location, price, and amenities weighing heavily on buyer decisions. Here are a few points to consider when looking for an agent who specializes in these coveted listings:
- Experience Matters: Look for an agent with a proven track record in sea view sales. Their knowledge about neighborhoods and property values will guide you in making informed choices.
- Local Expertise: An agent familiar with Dubai’s evolving real estate landscape will provide insights on emerging properties and market trends affecting your investment. They should not just be selling homes; they should understand what makes each area unique.
- Negotiation Skills: An adept negotiator can save you thousands. They know how to navigate the intricacies of offers, counteroffers, and contracts.
- Strong Network: A connected agent can tap into a wider network of potential buyers and sellers, often delivering opportunities that aren’t publicly advertised.
By ensuring the agent you choose possesses these attributes, you position yourself for success in acquiring a sea view property that fulfills your dreams.
Negotiation Tips for Buyers
Entering negotiations can be daunting, especially in a market as competitive as Dubai's. Here, having a skilled real estate agent on your side is invaluable. Yet, there are also strategies buyers can employ to enhance their negotiating prowess:
"Knowledge is power. The more you know, the less you need to negotiate hard."
- Research Comparable Properties: Before making an offer, investigate similar sea view properties in the area. Understanding average market prices helps you make a realistic offer and strengthens your negotiating position.
- Be Prepared to Walk Away: Having a walking-away strategy may seem counterproductive, but sometimes it's the best tool you have. If negotiations do not yield a fair deal, be willing to look elsewhere. This often prompts sellers to reconsider their stance.
- Consider the Timing: Real estate markets ebb and flow. Knowing the best times to buy can grant you an upper hand in negotiations, especially during slower seasons when sellers might be more inclined to deal.
- Build Rapport with the Seller: Personal connections can sometimes sway decisions. If it’s appropriate, expressing genuine interest in the property and understanding the seller's motivations can foster goodwill and lead to a better negotiation outcome.
Future Outlook for Sea View Properties in Dubai
The future of sea view properties in Dubai is nothing short of fascinating. As a melting pot of culture, commerce, and innovation, the city offers a unique canvas for investment opportunities. The significance of this topic emerges from the crucial role such assets play in the local real estate market. With the trends shifting and investments focusing on lifestyle options, it’s vital for buyers, investors, and real estate professionals to comprehend what lies ahead.
The increased allure of sea views caters to a growing demographic seeking not just homes but atmospheres to enhance their quality of life. Given the ongoing developments and the ambitions of Dubai as a global hub, buyers can find a treasure trove of possibilities in these expanding markets.
Anticipated Market Trends
The landscape of sea view properties is influenced by various market trends, driven by shifting buyer preferences and broader economic sentiments. Here’s how the market is anticipated to evolve:
- Sustainable Living: As global awareness regarding sustainability heightens, developers are expected to integrate eco-friendly practices into their projects. Buyers increasingly value properties that promote sustainability, enhancing their desirability.
- Technology Integration: Smart homes are not merely a trend; they’re becoming the norm. Properties equipped with the latest technology to enhance security, energy efficiency, and convenience will undoubtedly capture the market's fascination. Expect sea view properties with robust tech installations to dominate in the near future.
- Shift in Investment Strategies: Investors are beginning to diversify their portfolios. Sea view properties, which were once seen merely as luxury items, are viewed as essential assets. As the economic landscape shifts towards more experience-oriented living, there will be a pronounced desire for properties that offer scenic views and tranquil environments.
Quotes and insights from industry experts further emphasize these trends:
"The demand for properties that reflect a lifestyle of comfort and luxury is more significant now than ever before. This trend will only accelerate as Dubai continues to grow as a global player in real estate."
Innovations and Developments in Coastal Areas
Dubai's coastline is also evolving, with innovative projects slated for the near future that promise to reshape the sea view property market. These developments are not only architectural wonders but are designed to enhance the living experience for residents:
- Mixed-Use Developments: New projects are increasingly combining residential, commercial, and recreational spaces. This makes sea view properties not only desirable for living but also attractive for investment, as these developments cater to a wider audience.
- Enhanced Public Spaces: Various initiatives are in place to improve accessibility and recreational areas along the coast. Parks and beachfronts that integrate art, health facilities, and leisure activities make living by the sea more desirable.
- High-End Amenities: Future developments will likely escalate the level of luxury available in sea view properties. First-class amenities such as infinity pools, wellness centers, and roof terraces are becoming standard offerings, adding immense value to properties.
As these innovations unfold, buyers can anticipate a blend of modernity and functionality, setting the bar higher for what the future holds.
Culmination
In the bustling realm of Dubai's real estate market, sea view properties hold a significant place, and their importance cannot be overstated. These properties do not merely offer scenic vistas; they symbolize a lifestyle that many aspire to achieve. For investors and home buyers alike, understanding the key elements of sea view properties is essential.
The benefits of investing in these properties are manifold. For one, the aesthetic enjoyment of living in a place with beautiful water views contributes to overall well-being. Furthermore, sea view properties typically exhibit higher demand, translating to better appreciation rates over time. This makes them a sound investment choice, especially for those looking to secure long-term financial returns.
Considerations about sea view properties are equally vital. Potential buyers should not only be attracted by the picturesque scenery but also factor in market trends and conditions. The fluctuations in property prices, especially in coastal areas, can be influenced by wider economic changes, local amenities, and community developments. Consequently, buyers must carry out due diligence, considering aspects such as maintenance costs and the impact of nearby structures on property values.
As Dubai continues to grow, so does the allure of its sea view properties. Future developments and innovations in coastal regions bring new opportunities for investment that are too good to pass up. Thus, understanding the various dimensions associated with these properties is crucial for navigating the real estate landscape effectively.
To summarize, whether you’re a first-time buyer looking for a home, an investor aiming for financial growth, or an agent guiding clients, recognizing the complexities and benefits related to sea view properties is essential. The knowledge gained through this exploration can help inform smarter decisions and pave the way for success in this vibrant market.
"Investing in sea view properties in Dubai isn't just about buying a home; it's about securing a lifestyle and a potential legacy."
For further information on real estate trends and legal guidelines in Dubai, you might find this government resource, or Wikipedia's real estate entry helpful.
