The Dubai government's decision to diversify from a trade-based but oil-reliant economy to one that is service- and tourism-oriented has made real estate and other developments more valuable, resulting in the property boom from 2004–2006. Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or will be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which are 25% of cranes worldwide, are operating in Dubai. Due to the burst of construction, Dubai has acquired various building-related records, which include: the world's tallest tower (Burj Khalifa), the world's largest shopping mall (Dubai Mall), the world's largest fountain (The Dubai Fountain) and the world's tallest hotel (JW Marriott Marquis Hotel Dubai). Also under construction is Dubailand, which will be almost twice the size of the Walt Disney World Resort.[1]
In 2009, many construction real estate projects were suspended or abandoned, due to the worsening financial crisis of 2007–2010.[2] That has also caused property prices to fall considerably throughout the United Arab Emirates, but most notably in Dubai. A Real Estate Regulatory Agency study found that over 200 projects had been cancelled between 2009 and 2011. In 2013 Prime Minister Sheikh Mohammed bin Rashid Al Maktoum created a committee to consider liquidating stalled building projects to pay off investors.
Havenmark Real Estate is focused on highest customer service standards by providing out of the box solutions to the customer’s growing needs in the current real estate environment. All clients are ensured highest levels of service within the framework of Dubai Land Department’s rules and regulations. At Havenmark Real Estate, we deal in both rentals and sales in both residential and commercial sectors. We pride ourselves in maintaining our relationships with our clients. In fact, it’s just the beginning of a new relationship. For the best service in town, please call Havenmark Real Estate.
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