Dubai tourism boom attracts investors

Date: 15/08/2007 17:30

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Property buyers are looking towards Dubai this summer, as a tourism boom in the area has increased its potential in the eyes of investors.

And conditions are set to get better for buyers, as Dubai is set to introduce the Real Property Law, based on English common law and which will guarantee buyers owner of freehold land.

Its friendliness towards outside investors and the weather are two factors bringing travellers who decide to stay.

"A lot of enquiries that we get from clients are from clients who actually want to go out and live in Dubai," said Shahid Iqbal of Investors Provident.

According to Mr Iqbal, Dubai has one of the highest hotel occupancy rates in the world, and the government is hoping to increase tourism by 10 million a year by 2010.

It already had a hit when it launched the Dubai Fashion Fiesta 2007 earlier this summer, garnering a great deal of media attention by attracting big names in the fashion industry.

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