ABOUT THE UAE
The United Arab Emirates, or simply “UAE”, is an Islamic country located in the southeast end of the Arabian Peninsula, close to neighboring Oman and Saudi Arabia. According to statistics, by 2013, the country’s total population was already at 9.2 million comprising 1.4 million Emirati nationals and 7.8 million expatriates.
The federation of the seven emirates, namely Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain, took place in December 1971. Abu Dhabi serves as the capital, and each emirate is governed by an absolute monarch who forms part of the Federal Supreme Council which, in turn, selects a monarch to lead as the President of the United Arab Emirates. While Arabic is the official language, English is widely used due to the large number of expat workers.
While the UAE's oil and natural gas reserves are among the largest in the world, the country is also globally known for its bustling commercial, industrial, retail, tourism, aviation and real estate sectors. After the Global Financial Crisis of 2009, the country successfully bounced back from the recession with a number of large-scale projects, adding to a host of already impressive real estate and infrastructure developments like the Burj Khalifa, the Dubai Metro, Masdar City, Palm Jumeirah and many others.
With the UAE’s impressive accomplishments and Dubai’s successful bid to host Expo 2020, the country has attracted a lot of investors, businessmen, and talent from all corners of the globe. So it comes as no surprise, then, that the UAE real estate industry, among other things, continues to thrive and stabilize, with consistently healthy demand for residential, commercial and industrial properties.