A strong growth in population, realistic targets for job creation and excellent existing infrastructure make Dubai real estate a worthwhile investment, according to bullish research from one of America’s biggest investment banks, Bank of America (BofA) Merrill Lynch.
The report, released on Wednesday, cited plans to create 950,000 new jobs in the emirate by 2020 as “ambitious and realistic” and said that it was “feasible that Dubai’s population could more than double over the next ten years”, creating demand for local property.
The research stated that if those jobs were created, and the new population had an average household size of three people, Dubai would see demand for an extra 317,000 units, or 94 percent of current stock.
“Dubai’s active population should grow by 6.1 percent on average over the next eight years, faster than residential supply, which is set to grow by 4.9 percent over the next two years,” the report stated.
Good News for Investors!
Source:http://www.arabianbusiness.com/buy-dubai-property-says-us-investment-bank-466403.html
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