Located on the southern coast of Persian or Arabian Gulf, Dubai is the 2nd largest of the seven emirates that constitute United Arab Emirates. Dubai has a population of 1.35 million inhabitants of which majority consist of expatriates. Dubai has the biggest population among other cities of UAE. Major parts of Dubai consist of rolling sand dunes. During the last few decades, Dubai has experienced a hasty development in every field of life. Twenty years back and you would find Dubai, a city inhabited by itinerant Bedouin roving across with their flocks and herds. Today, Dubai has become one of the most modern cities in the world. With the continued boom in industry sectors such as tourism industry and Dubai Property industry, Dubai has fast become the center of attraction for millions of people and businessman around the globe.

To some extent, Dubai is little different from rest of six Emirates of UAE. Unlike other Emirates, revenues from oil products contribute only 6% of the Gross Domestic Products of Dubai. The major contributors in its GDP are the tourism sector and the real estate sector. Later has gain a significant importance in the economical growth of Dubai. Today Dubai proudly holds some of the tallest skyscrapers in the world.

With nonpareil facilities and lifestyle on offer in Dubai, many people are planning to make Dubai as their second home. Some are even planning to relocate their. This has resulted in an increase in the property demand in Dubai. The increase in the demand of Dubai property for sale has forced the hike in price for properties in Dubai. With the announcement of new laws for property in Dubai, Dubai has able to magnetize many property investors around the globe. According to AME Info (leading press release website about Middle East), a massive investment of USD 4 billion has been committed in the Dubai property market since the passing of new laws for property in Dubai.

Dubai Investment Fund has planned to broaden the horizons of property investment across the following three branches of Dubai property market.

•Commercial Property in Dubai
•Industrial Property in Dubai
•Residential Property in Dubai

DIF has aimed about 15 to 20% annual growth in the investment funds for Dubai property sector. One of the major developments in Dubai real estate market has been the announcement of new Dubai Freehold Property Zones. Expatriates can own property in Dubai in these zones either on permanent basis or on the basis of 99 years lease. This factor has significantly intensified the Dubai property market. All of a sudden, Dubai property market converted from an average local market into a full of activity international market. With matchless lifestyle Dubai has now become the heaven for millions of people in quest of a trendy and out of this world lifestyle.

The Dubai property prices have shown a significant upward trend during the last few years. Dubai property market has seen a 40% increase in the rental price against the property for rent in Dubai during the first six months of 2005. The price of property for sale in Dubai has also seen an increase between 20 to 50% during 2006. According to many real estate experts, this is the best time to invest in Dubai property market as prices are set to see more heights during the upcoming years with ever increasing property demands. Many investors are turning to invest in Dubai property market to take home their share of benefits that Dubai property market has on offer for its investors. There is a lot of profit on offer in Dubai property market if you can play your cards well. All one needs is the careful survey of property in Dubai market.

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It didn't surprise observers, when Dubai announced its plan to make eco-friendly buildings. First of all, Dubai's own roots were dug deep inside a vast barren land. Aided by the latest building science, they went on to erect a modern-day giant right in the midst of sand dunes. To have an eco-friendly approach was but a necessity for their growth oriented policies now. That is why many ongoing constructions involving Dubai hotels (United Arab Emirates), furnished apartments, villas and office blocks are being asked now to be eco-friendly. Dubai's skyline has grown by an alarming rate in the last few years, which raises the possibility of a resource crunch taking place in the future. To cope with any such eventuality, one requires adopting eco-friendly methods for constructing newer shopping malls, villas, and Dubai hotels.

One may ask here what exactly are the eco-friendly or green buildings that we are speaking about. Do they have farming and gardening going inside them alongside with the usual way of living? This author paused for a moment to look around for the answer, and found this explanation. Buildings that were friendly to the eco system, including the humans residing inside them, were supposed to be called by the name ecologically-friendly or green buildings. In other words, they were to be made from the recycled, eco-friendly and locally supplied construction material. This ensures two key eco-aware measures. The first, the least amount of raw material and fuel consumption taking place while the building was being developed, and the second, the least amount of green house emissions taking place once it was handed over to buyers. Keeping in mind Dubai's size and growth, it was but necessary to ask for eco-friendly Dubai hotels (United Arab Emirates), furnished apartments and villas to continue having a sustained growth.

In the case of non-eco buildings, the impact on environment is profound. For example, the buildings of the United States consume 25% of total water, 70% of total electricity, 49 % of total energy and discharge and about 38% of total CO2. Sustainable structures, in that sense, directly improve the public health and productivity on one hand, and reduce the environmental degradation and operating costs on the other. Practitioners of the green buildings, in some cases, even go beyond the main structure and try to incorporate the vicinity as well, into their original designs. Accordingly, most upcoming Dubai hotels, hotel apartments and furnished villas can be envisaged submerging into the landscape they were made to be part of.

Some popular misconceptions about the eco-friendly and non-eco-friendly buildings both, dog the real estate market world over. For example, the damage to environment by the non-eco-friendly buildings is often underestimated. On the other hand, the construction costs of the eco-friendly ones are overestimated by 300%. This tells why there are so few green buildings to be seen around in the whole world, in the present era. Dubai, the number one city in many areas, might as well prove out to be the leader in introducing the green concept in a major style. One will have to wait and watch to see the impact of such proposals on Dubai hotels (United Arab Emirates), furnished villas and similar other initiatives.

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Dubai's buyers can finally decide to have a sigh of relief, since they can buy now properties insured against any structural damages. The buyers used to be left in lurch until today whenever any structural damage came to light after the properties were handover. They couldn't ask for any legal proceeding or compensation due to the lack of proper laws they had. But, the Real Estate Regulatory Authority (RERA) has finally decided to change this scenario, and introduced a new law which makes developers responsible for damages that might get noticed after the property had been handed over. The buyers will be free to approach the regulatory body whenever there seemed to be any breach of law taking place. Scores of Dubai apartments, furnished villas, hotels and Dubai hotel apartments will come under the purview of this new legislation.

Investors used to withdraw from projects earlier, citing the lack of insurance cover as a reason. Under the new law, however, the developer will be made answerable to courts for any sub-standard construction. For example, any serious wall cracks taking place within the first ten years of property handover, can amount to be a case for compensation. Additionally, any electrical, mechanical or plumbing related irregularities can also be challenged during the first year. Any irregularities in the construction of Dubai apartments, hotels, furnished villas or Dubai hotel apartments could not be challenged in the courts earlier, since there was no clear framework to do it.

In addition, this law adds more clarity about the issue of maintenance of buildings. Under the new directive, a Home Owner's Association (HOA) will be established for each jointly owned property and asked to look after the common areas, such as gyms, swimming pools, parking spaces, entrances etc. They will have to play the role of watch-dogs and see that the buyer's money was properly made use of. It is surprising that, only five percent of Dubai's households carry home insurance coverage, which is too few in numbers compared to what we may get to see from the countries like the USA, the UK, Australia or Japan.

The formation of HOA is key ingredient of this whole exercise. It will be required to maintain and be the beneficiary of the insurance cover in each case, while the constituent members, each having the ownership of one unit, will have to pay up the premium. Dubai may be a late entrant into this exercise, but it is expected to pursue it seriously now, and the buyers and promoters should be getting used to it now. The city needed to have it anyway, with so many high-end Dubai apartments, hotels, furnished villas and Dubai hotel apartments dotting its skyline.

Although, insurance cover is a basic necessity for any real estate buyer, people of Dubai did not shown any keenness about it in the past, may be, since most of them happened to be short term buyers. However, the introduction of the new law by RERA will change this scenario fundamentally, one hopes, and the awareness about property insurance will grow further. Dubai is as much known for its successful commerce, as for its shining real estate, which comprises of lavish hotels, shopping malls, Dubai apartments, villas and Dubai hotel apartments. The new property law by RERA will add more value to its real estate.

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