Three of us flew out in May to "scope it out". We were lucky to know a real estate agent there who gave us some invaluable, honest advice. We didn't buy from him and he didn't try (too hard) to sell to us. After a short sales pitch he soon came out with the advice we had suspected was true. New-builds are the way to go if looking for an investment opportunity.
We enjoyed spending some time in Dubai. It took a while to understand the place. It is quite different to other countries in that most of the population are immigrants. The poor come from places like India and the middle class come from places like the UK. For westerners there is a slightly strange expat scene outside of the more traditional laws for most people e.g. drinking alcohol.
After speaking to 6 construction companies in Dubai, we found the perfect one. We spent a lot of time on this part as it is essential you have someone that understands your vision and that you can trust. Of course we were also wary about the language barrier but that was no problem. Our main contact at F&A Constructing Dubai spoke fluent English. Even when we are in the UK, which is most of the time, we feel happy leaving the project in their hands.
We felt comfortable with this firm and having that peace of mind can really help with stress levels. They handled themselves very professionally and have done a great job on our investment villa. Houses are usually known as villas in Dubai, which suits the sunny, desert location. Having made a few trips to Dubai, I am starting to grow rather fond of the place and we may continue with another investment if this one goes to plan.
Our villa is close to completion now, then the next step will be to put it on the market. This is where our friend the real estate agent might get something out of us after all. Anyway everything is on schedule and we are excited to see the finished construction and get it on the market.
I don't want to post a picture of the project online yet in case the others don't like me doing so, for some reason or other. Instead you can see a photo which I feel sums up why I am starting to fall in love with Dubai. It is as if someone has just said "lets make our idea of the best city from scratch".
|Dubai Skyline on 10 January 2008" by Imre Solt|