Archive for August, 2010
Dubai Economy Growing Through Real Estate
Dubai is the first country in the United Arab Emirates that ventured away from oil as its main source of income. Today oil contributes only 6 of the nation’s GDP. Dubai has steadily and determinedly worked on transforming itself from an oil rich country into an important trade center and business port. It has done several things to attract western investors both individuals and corporations to set up shop there. Dubai is also the biggest banking and financial market in that area.
Besides business Dubai has also worked hard to attract tourists and continues to develop on the theme to provide increasing number of options in terms of accommodations and also activities. There are some truly stunning resorts that have been and are being built in Dubai to attract tourists and business visitors. There are specific zones free zones in the city that have been set up to attract specific industries. Many international conglomerates like IBM Oracle CNN Reuters and Microsoft have substantial presence in Dubai.
The Real Estate market in Dubai is flourishing due to the efforts of the government to diversify in the tourist and service industry. Huge projects like the Palm Jumerirah and The World are being created on manmade islands and have caught the world’s attention even though some of them are still under construction. Inside the city you will find the world’s tallest skyscrapers and also Burj AjArab the world’s tallest hotel. The Burj Dubai is currently under construction and once it is finished it will be the tallest building in the whole world. Another project underway covers a new business district and will comprise of 500 skyscrapers.
Dubai’s economy reported a 16 growth in 2005. According to the Dubai Department of Economic Development DED its estimated worth was around 37 billion back then. It is expected that Dubai’s economic growth will surpass that of China which is considered to be among the fastest growing economies today. China’s current growth rate is 8.5 According to the DED Director General Mohammed Ali Alabbar Dubai’s economy is quite sustainable in the long run. He stated that the business friendly government policies will help to keep the economy growing at a steady pace.
Considering that Dubai’s economy was only 17 billion in 2000 the accumulated yearly growth of Dubai’s economy is the highest in the world for the last decade. Mr. Alabbar also pointed out that this growth was a direct result of the government decision to diversify the economy and move it away from reliance on the oil industry.
In 2005 the nonoil industries in Dubai contributed to nearly 94 of Dubai’s GDP. This is the clearest evidence that the government did the right thing by moving away from oil and focusing on other industries like business tourism hospitality and others. For the past few years the economy of Dubai has shown some truly remarkable growth patterns and the continuing focus of the government on making newer policies in the same vein is going to ensure that the growth does not slow down any time soon.
About the writer: William King is the director of Dubai Property UAE Property Dubai Real Estate Portal: http://www.bayut.com Pakistan Property Pakistan Real Estate Properties Portal: http://www.zameen.com and Wholesale Suppliers UK Trade Dropshipping Directory: http://www.ukwholesaler.co.uk . He has 18 years of experience in the marketing and trading industries and has been helping retailers entrepreneurs and startups with their product sourcing promotion marketing and supply chain requirements.
Direct Mail Letters To Contact Defaulted Homeowners
In the old days it used to take a lot of time to find and contact all of the default mortgages out there. Now it is way easier these days to find the names of homeowners in preforeclosure than it used to be and as a result contacting them is easier too.
Looking for the Foreclosures
In the old days you used to have to go down to the courthouse and scroll through the lists of homes in foreclosure on microfiche in order to find preforeclosure deals that fit your needs and get the names of potential sellers that you could send letters to. In fact if you wanted you could still do this.
If you want to save yourself some time and stress on your neck try buying into a mortgaging list that sends you all of the default mortgages. There are all kinds of list providers out there today. Theyll send you lists filled with preforeclosures and foreclosures in areas across the country.
How to Start Direct Mailing
You can now contact all of these wonderful foreclosures and preforeclosures available on the market by making use of direct mailing practices. Direct mail involves sending a form letter to the homeowners youve selected as potential clients.
Once you get your list of homeowners in default or even a list of homeowners with their own mortgages you can start sending out direct mailing letters.
If you are uncomfortable with your own letter drafting skills you can look up some preformatted sales letters that are available online or just use a letter template from your word processing program such as Microsoft Word to create your own simple and direct letter to the homeowner.
In your letters be sure to state your reasons for contacting the homeowner about his or her preforeclosure and provide your business information.
That includes:
Your name and company name if any
Telephone number
Mailing address or office address if any
Email
Business card
Including a business card in each letter you send out may be a little costly at first but in the long run those homeowners you contact about picking up their homeowner mortgages or preforeclosures are more likely to keep a business card than the letter.
Some suggest being prepared to send out your direct mailing letters to defaulted homeowners up to seven times before youll get a response. Thats the average number of times someone needs to see a piece of information before theyll act on it.
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Delhi Residents Cheer About Third Floor Ruling
The Supreme Court has allowed an extra third floor in Delhis residential apartments. Are citizens heaving a sigh of relief and how will it impact the Delhis residential real estate market?
Delhis property market is estimated to have about 5 lakh residential plot owners and the Supreme Courts move is expected to impact at least 50 lakh Delhiites. According to MCD sources plotted residences in the capital house over 40 lakh people and the construction of additional dwelling units would provide accommodation to an additional 10 lakh people.
The SC not only allowed construction of thirdfloor dwelling units but also allowed them to achieve the liberalised FAR floor area ratio offered under Master Plan 2021.
However there is a rider to this order that affects residential property across Delhi. While allowing property owners to build the additional third floor the SC has also decreed that the owners have to give an undertaking to abide by the final orders of the court when it gives its verdict on the new Master Plan and the validity of the Central government notification allowing increased commercial activity along selected streets in Delhi.
The other issue that experts are concerned about is whether this flip flop by the Supreme Court in allowing extra residential property units has actually pushed aside the genuine concern that increasing the number of residential property units on a street will lead to increased pressure on the infrastructure that has to cater to the residents of the area. The car parking sewerage water supply and various other backup services to residential property units remains unaddressed.
Present chief Secretary of Delhi Rakesh Mehta in his former stint as the Municipal Commissioner of Delhi had evolved a radical new solution to addressing the problem of infrastructural facilities to rapidly urbanising areas. His team had come up with the notion of local area planning where the occupants of the area determine its residential property profile and penalties for unauthorized use would be used to upgrade facilities in the area.
The present Supreme Court order only seems to indicate that the Supreme Court is aware of the acute residential property shortage that the city faces and the need to think out of the box for solutions. But if it does not address issues headon there may be further trouble in store.
For more details on Delhi Properties log on to magicbricks.com
About the writer: George Gonigal provides you the best and latest information on Delhi Real Estate Builders if you want to Buy Apartments in Delhi. he suggest you log on to magicbricks.com