Dubaï, tour de Babel

Dubaï, the 21st century Tower of Babel

What is fantastic in Dubai, Tower of Babel, is that in the end everyone feels good there. Everyone is welcome and feels at home. The figures speak for themselves: 9.5 million inhabitants, 8.5 million immigrants. All nationalities from around the world are present and the construction giants have turned the city into a huge playground.

Dubaï, the 21st century Tower of Babel

It represents a dream come true and ambition of mankind. The triumph of a great ambition to want to build a city in the middle of the desert. A successful bet. But at what cost? When you visit the site what is surprising is how big it is and it is clear a lot of work went into it! Let’s not be afraid of anything! The sky is no limit. So it is not surprising to find white begonias and english lawn on the side of highways. It’s all fake, but it’s well done.

Started from nothing

There was only sand. Due to cranes, concrete, and glass, the buildings were built with the intention to be astonishing in order to offer something original and profoundly modern in architecture. The buildings are so illuminated that they are almost blinding! (Much more than in Manhattan for example)

These buildings built with the strength of the masters of stone come that went there for a better life, a life with a job. Here everyone comes from somewhere, the city of 9.5 million inhabitants has 8.5 million immigrants! Proof that excessive capitalism and the promise of 0 taxes works.

Here we want to be tolerant and it is true that we have the impression that the Arab world has its international capital, as New York can symbolize the capital of the Western world.

Dubai, the 21st century Tower of Babel is built with the use of the English language, the international language by excellence.

But truly, there, the more languages ​​we speak the better it is. It is common to use 3 or 4 languages ​​in the same day. Dubai is also the promise of political stability, strong economic growth, and guaranteed safety. Each culture has brought with it its know-how, its cuisine, its customs. It’s rich and full of life.

In the end, everyone is there for the same thing: to live in a safe environment, to meet people to do business and, if there is time, to enjoy life. Everybody here left their country in the hope of a better life.

Read also: international real estate and profitability

But is it?

It’s hot, it’s true, but it’s bearable. We feared the valley of death, in reality, it is not that. The sea breeze saves everything. Not to mention that they make they create artificial rain with the help of drones.

Yes . The sky is cloudy. We thought it was pollution (let’s not forget that concrete is the first pollutant on the planet and that we consume just a little less of it than water!!!)

We had never seen so many cranes on the horizon! Never had we seen so many gigantic gray blocks from which concrete rods spring.

If you have the chance, do not miss the night landing, it is very impressive. Definitely worth fighting for the window seat on the plane. Small islands, roads so illuminated, so structured as far as the eye can see. Islands form a palm shape  from the sky, as well as a  world map. There is no limit.

Often cities are built where nature is the most lenient, they are implanted on a strategic axis. Here is the ultra modern city, it is a bustling city with the promise of being accepted and welcomed wherever you come from, and the promise is kept! Everyone feels at home.

At home …. Let’s talk about it …

How much does a “home sweet home” cost in Dubai? Well, like in the western world, it used to be cheaper! Prices did not take off for a long time, but they have increased by 35% over the past 4 years.

Expect a price of 4000 euros on average for an apartment under construction, purchased off-plan. House prices soar to 3,500,000 euros for a 170 m2 villa with a small garden and a small swimming pool. Of the entire huge program under construction of the giant builder Sobharealty (historical player in the high-end market), there is not a single one left available!!!

Here to buy a property on the existing market you will have to buy it cash. And prices are skyrocketing.

In Dubai, mortgages are difficult to find, but builders offer interesting financing plans. With 50% on order and 50% on delivery within 3 years. Returns are good (around 8%), especially since they are tax-free. Also the rule here is that tenants pay the full year when the signing of the lease. Rent payments are made annually. If you want to get your property back, just send an email to the tenants must leave the domicile within one month.

Agence Etoile is your best contact for all your investments abroad.

Marie Espinosa
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