UAE is still considered one of the fastest-growing countries in the world even after a severe strain on its economy due to Covid-19 that resulted in repeatedly postponing a World Expo event; Expo 2020. The growth of economy is fast growing due to the heavy investments in the human development of the country.
However, while Abu Dhabi is the capital of the UAE out of the seven states (or emirates), most of these developments, events, and activities were promoted in Dubai, which opens doors for investors looking to invest should they consider an investment in Dubai.
Due to the developments over the years and the rapid developments that took place as a result of hosting Expo 2020, the quality of life in Dubai has increased immensely and thereby giving any investor every reason to look into an investment in Dubai.
Apart from these benefits, Dubai's tourist attraction has reached new heights with the help of hosting Expo 2020 and thereby still holding strong on being one of the best tourist spots globally (ranked 2nd as of 2021) and regionally(ranked 1st).
Even with such lavish lifestyles, the cost of living in Dubai is much lower compared to other cities such as New York (86.39%) and other expat hubs like Hong Kong (38.49%), and London (36.6%), while the standard of living is higher.
As an investor who is looking into an investment in Dubai, a major concern would be the stability of the economy.
According to xe.com, the exchange rate between the US dollar and the UAE Dirhams has been stable for the past two years; an average of 3.6709 AED, the highest of 3.6733 AED and the lowest 3.6696 AED (US Dollar to Emirati Dirham Exchange Rate Chart | Xe, 2022). This means any investor looking to invest in Dubai is in safe hands due to the stable economy.
Since the country has been focusing on being a top destination for travel and investments, the value of all real estate is likely to appreciate in the coming years. This is why an investment in real estate is the best type of investment in Dubai at present.
Furthermore, apart from the projects that have been completed over the past few years, which include Expo 2020 ( invested over $7 billion, direct revenue of about $16 billion in 2022, and expert forecasts of $33 billion by 2031), new projects such as District 2020 gives investors more reasons to look into real estate investment in Dubai.