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Free Zones boost Dubai's property market
1 February 2008
Free Zones in Dubai are helping to poise the nation as one of the "most sought after business and holiday locations rolled into one", according to one expert.
Profile Europe has stated that population, workforce and economic growth created and driven by the free Zones and specialised industrialised cities are responsible for attracting scores of reputable companies to Dubai.
Martin Bowen, UK sales director of Profile Europe, stated that the influx of new companies is having a "huge" effect on the property market.
Thousands of employees need accommodation and this has improved both Dubai home sales and rental property markets.
There are currently four Free Zones in Dubai- Jebel Ali, Dubai Airport, Media City and Internet City- these tax-free regions are treated as off-shore areas and offer 100 per cent repatriation of all profits.
A number of high-profile companies including MasterCard and Daimler have been attracted as a result.
Louise Shipway
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