Insights
Market Overview
Dubai Architecture and Development
Over the years, Dubai has been a household and recognizable name everywhere. Often depicted as the city of glitz, innovation, and astounding architecture and home to the world's tallest building and the first seven-star hotel, Dubai has earned its spot to become one of the world's most fascinating places to visit.
But like any other city, Dubai's growth and development wasn't an overnight journey. It's a collective effort of more than a decade's progressive and continuous development and modernization.
Highly invested in finance, trade, real estate, and tourism aims to elevate the overall experience of its residents, stakeholders, and foreign investors.
The rise of modern real estate notion
As Dubai's residential, commercial, and industrial infrastructures grew abruptly, the need to regulate and protect the interests of the increasing foreign and local investors led to the formation of the Real Estate Regulatory Agency (RERA) in 2007. An effort initiated by His Highness Sheikh Mohammed Bin Rashed Al Maktoum - UAE's vice president, prime minister, and the ruler of Dubai.
Instated as part of Dubai's Land Department, RERA governed all real estate-related activities to ensure transparency and legalities in all transactions, elevating investor trust and satisfaction.
Consequently, Dubai government started implementing new laws and legislations that ease and secure the interest of overseas investors - giving them the confidence that investing in Dubai can be a long term beneficial move.
In addition to its trade and investment undertakings, RERA also facilitates and evaluates building management and operations, setting up guidelines and standards of practice to safeguard the properties, their residents, and occupants.