There are a number of reasons as to why Dubai is regarded as one of the best cities in the world. This is thanks to its unique architecture, multicultural environment, overseas property demand and top tourist attractions.
In 45 years, the city has transformed itself from a local trading community into one of the most inspirational, exciting and successful cities in the world, says Gulf Sotheby’s International Realty.
“In the 1980s and early 1990s the city took a strategic decision to become a leading international tourism destination and it has quickly become a city that is recognised all over the world, with the world’s tallest building, the world’s richest horse race, the world’s tallest choreographed fountains, the world’s largest man-made island, the world’s most luxurious seven-star hotel and the world’s most visited mall.”
Young professionals on the lookout for adventure and new places to settle down are increasingly gravitating away from Hong Kong and Singapore into new cities.
The post-Covid, inflation-hit world is moving away from old cosmopolitan centres to newer, younger cities with vibrant cultures. These hotspots bring with them affordable luxuries and high-paid jobs.
It comes as no surprise that Dubai ranks among the top cities in the world for expats.
The combination of a stellar Covid-response and the war in Europe has seen a rise in the influx of expats into the emirate.
Bernd Hanke, partner of a London-based fund, moved to Dubai during the pandemic to escape rounds of lockdowns and Covid measures in Stuttgart, according to Bloomberg. A growing number of financial professionals are relocating to Dubai, which is bolstering its financial and cryptocurrency markets.
Hanke enjoys waking up to the lush green golf course view from his Emirates Hills accommodation and the warmer temperatures as compared to his home in Stuttgart. The similar time zone to the Europe is a bonus as well, as it allows him to reach the UK-based investors in his $400 million equity fund.
“Dubai handled the pandemic very well and there was almost no lockdown,” said Hanke, 48. “I would quite like to be in Dubai even for the longer run,” he said. “I have to make up my mind on that.”
With heavy investment in the healthcare sector, the city is the perfect choice for your health and wellbeing.
Dubai is free from Income Tax for residents with no Value Added Tax (VAT) levied on residential property for investors.
The UAE Dirham has been pegged to the US Dollar since 1973 and set at a constant rate since 1997.
Dubai is a direct flight away from 97 countries, so rest assured, your home-away-home helps you stay connected to everything that matters.
Home to over 200 different nationalities, Dubai is a cosmopolitan safe haven that stands for inclusion, diversity and security.
The UAE is one of the world’s safest countries with a law enforcement system that showcases years of development and foresight, resulting in low crime rates.
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