Versailles Palace Property Investment CO.

We are an established company with a large portfolio of both new and resale properties in the UAE and the Caribbean. With a selection of apartments, townhouses, bungalows, villas and country homes to choose from. We also have a specialist Commercial department for showrooms, office space, shops, warehouses etc.

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What is an Inspection Trip / Experience Tour?

We do not like this term as it sounds like you will be driven around from dawn till dusk viewing properties and never being allowed out of site from your estate agent. We have changed the name to Experience Tour as we believe from experience, that no two clients are the same and therefore we offer a personalized viewing in an air conditioned vehicle with your own personal representative from our company. Viewing tours Book Experience Tour

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Will we be pressured?

In a quick answer no. All we ask of from our clients is honesty and integrity in being in a position to proceed with the purchase should you find a suitable property At no time will you feel under pressure, a representative from our company will liaise with you whilst viewing the properties and give you his or her professional opinion when asked on each property and give you time to rest and talk with your partner about the properties you have seen. One thing you can be assuring of is that you find these trips both informative and exciting.

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What happens when we find a suitable property?

Although there is no obligation to purchase, if you find the suitable property you will need a deposit of AED 5,,000 (£1,000) approximately depending on the project to secure the purchase, this is called a reservation contract.

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New or Resale?

Both types of property have their advantages it depends on your personal status as to which you choose:

Resale:
o Established Area
o Move into your chosen property within 4/6 weeks
o Most properties come fully furnished and with other extras.

New:
o Choice of the best plots available
o You're the first owner of this property
o 10 years builders guarantee
o You have the chance to save your money during construction

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Currency Transfer

We have a working partnership with Global Currency Foreign Exchange. With their experience they can obtain the most competitive rates for transferring your sterling into UAE Dirham’s or other currency and the facility of protecting each transfer.

Please contact us for this information and we can arrange a meeting in your chosen destination with one of their representatives.

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Is it possible to get my pension paid in the UAE?

Transferring your pension to the UAE need not cost you a fortune every month.

If you use your bank to make the pension transfers overseas, it's likely that you will pay much more than you need to in charges, commissions and the currency exchange rate.

As more and more people have chosen to retire overseas, the banking system is set to gain from this migration. However, whether you have a state pension or a private pension scheme, the taxation treatment of your money may be different depending on the arrangement that the your local home tax office has with your new homeland.

Relying on conversations with friends, who have already moved abroad, is useful. But, take great care to get the right information from the tax office.

Your pension can be paid directly into your UAE bank account. You can contact the DHSS office in the UK, Newcastle on 0044 1624 685069 who will provide you with the relevant information. If you have a UK pension the tax is only payable in the UK and not in the UAE.

Transfer with Foreign Currency Exchange.

Now that you have established what you are likely to receive from your pension every month while living overseas, it is worth discussing your plans with a foreign currency broker. Foreign Currency Exchange brokers can save you a great deal of money when you are making regular monthly payments.

Do not rely on the good nature of your originating bank to keep the expenses to a minimum and to give you a the best rate of exchange as they wont , why not go to a currency conversion specialist like Global Currency Exchange, who have a simple system for making these monthly transfers?

You instruct your bank to transfer the monthly pension payment to fx-foreignexchange. At the end of the month, the presiding rate of exchange is applied to the pension amount and the money is converted into your destination currency. The money is then transferred to the bank account in your new home country without commission or transfer charges. Often, if Global Currency Exchange has a bank account in your destination country, there won't be any receiving charges either.

You can forward purchase your currency every month to guarantee what you are receiving every month.

The service is very efficient and cost-effective.

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What about schools for children?

There are numerous private schools for expatriate children throughout the United Arab Emirates although they can be oversubscribed so it is wise to apply as soon as possible. Schooling can be expensive (e.g. the High School at the American Community School in Abu Dhabi is over 10,000 US dollars per year/41,475 dirham’s per year). There is no Free State education for those who are not UAE nationals.

In addition to international schools a number of overseas colleges and universities now offer part or full degree courses to expats living in the UAE.

The majority are managed by and run for English-speaking western expatriates, although many local families choose to send their children to these schools, perhaps in the belief that the tuition will be better and also because of the international importance of the English language. There are schools for the children of Americans, British, French, Germans, Egyptians, Indians, Pakistanis, Filipinos, Japanese and many other nationalities, as well as international schools catering for a variety of nationalities. The vast majority of private schools teach in English, including the Indian and Pakistani schools. Minority expatriate groups such as the Japanese, French and Germans tend to send their children to international schools, at which the main teaching language is English.

Some private establishments restrict enrolment to pupils of the relevant nationality, e.g. a British government-aided school. Others might have rules concerning religion. International schools tend to have fewer restrictions.

Most private schools are co-educational and provide tuition to children from pre-school nursery groups through to university entrance examinations, preparing them for a variety of examinations – often British A levels or the International Baccalaureate, which can be taken in the Gulf. There are also plenty of private pre-schools, including play groups, nurseries, kindergartens and infant schools. These schools are voluntary, but widely attended, partly because they allow expatriate mothers to socialize. Restrictions on wives securing work visas mean that they can feel isolated at home.

In general, standards at private schools are high, with small class sizes and modern facilities, but some parents find that their children have some catching up to do when they return to their home country. Some schools catering for pupils from India and Pakistan face heavy demand for places, due to the large number of workers from those countries. There can be severe overcrowding, pupils sometimes being taught in shifts.

Private foreign and international schools tend to have more relaxed, flexible regimes and curricula and to be less formal in terms of dress, behaviour and pupil/teacher relationships than their equivalents in Europe and North America. Some see this as a good thing, others as a negative. A drawback of private schools in the region is their high staff turnover. Like other expatriates, teachers tend to change jobs and locations quite frequently. This can lead to a lack of continuity in children’s education and be a disruptive influence.

Structure

The school structure varies between different types of school in Dubai, but those catering for American, British, Indian and Pakistani pupils tend to be either primary (for children aged 4 to 11) or secondary (11 to 18). Those catering for children of other nationalities are usually divided into four categories, as follows:

School Type	Pupil Ages
Pre-kindergarten & Kindergarten	3–6
Elementary	6–11
Secondary	12–14
High	15–18

Enrolment

Applications to private schools should be made as early as possible, particularly to international schools, which sometimes have waiting lists. You might need recent school reports or a previous head teacher’s letter of appraisal. For UK and other western expatriates, the British Council is a useful source of information about educational establishments. Enrolment in private schools usually involves an interview with parent and child, and might also involve an examination (only for the child, you will be relieved to know!).

Hours & Holidays

There are many different types of school in Dubai, offering different curricula to children of various cultural backgrounds, and school hours and holidays vary accordingly, although a school day running from around 8am to 2.30pm is common, from Saturday to Wednesday inclusive. Some schools; particularly those catering for children of Asian workers will operate from early morning to evening in two shifts.

Fees

The cost of private education can be high, but in some cases the fees are paid by your employer as part of your contract. It’s vitally important to be aware of the cost of private schooling over the course of a child’s education, particularly if this will include university. What might begin as a manageable expense can quickly become a major financial encumbrance if there are regular increases in fees, as there often are.

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What about the language?

The official language is Arabic. Although English is widely understood and spoken, and ranks alongside Arabic as the language of Commerce.

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Can we get medical care?

The government is overhauling medical care in Abu Dhabi to provide a world class health service for all of its residents. There has been increasing pressure on the city’s healthcare services, primarily due to the unprecedented growth in the population.

The Health Authority of Abu Dhabi (HA-AD, formerly GAHS) are looking to improve the quality of care and expand access to all medical services by shifting from government facilities, and using more private health providers. The first step was introducing mandatory private medical insurance for foreign residents and their families, so, by law, all employers have to provide health insurance for staff. In essence, the only ’free’ medical care in Abu Dhabi is emergency treatment; everything else needs to paid for or covered by insurance. You can still get treatment in both government and private hospitals, but the fees will be similar regardless of which type of hospital you choose.

The quality of medical care in the Emirates is high, and residents and visitors should have little trouble getting appropriate treatment. Dubai’s health services are internationally recognized to be of good quality and comparable to other developed countries. Hospitals, which boast of with their modern facilities, are strategically located to ensure accessibility. There are about 20 clinics and hospitals distributed across the Emirate. The ratio of clinics/hospitals to patients is 1:78,000.

Dubai’s public health care is being run by the Department of Health and Medical Services (DOHMS). It provides free or very low cost medical services for UAE residents. There are also private health care providers. Many of these practitioners are foreign health professionals trained in their home countries. Most of them come from USA, India, Egypt, Europe, and Pakistan. Their qualifications are carefully verified before they can practice health care in Dubai.

In general, Dubai aims to improve the over-all wellbeing of its people. Its strategy is to provide patient-specific care. The most popular medical services provided by health care providers in Dubai include: a) immunizations and vaccinations, b) psychiatric treatments, c) medical fitness, d) community services such as marriage and family counselling, e) adult and infant yoga therapy, f) rehabilitation, and g) education on health and nutrition, among others.

One of the good practices of medical professionals in Dubai is the post-clinic private medical calls, which is considered as part of their responsibilities. Everyone is equally provided with appropriate medical attention regardless of residency and nationality.

Normally, first diagnostic visit to a private doctor costs £40 excluding other required medical examinations. Post-clinic private consultations are charged higher than the regular clinic consultations. Night-time calls may run up to more than £70. Doctors issue receipts which the patients can reimburse to their insurance, if any.

Private Medical Insurance

Health care insurance is not compulsory for all employers. Foreign workers may either obtain their own health insurance or apply for a health card issued by the DOHMS. Public hospitals only accept foreign patients with health cards but on an emergency basis only.

When choosing private health insurance companies or health maintenance organizations, the amount of cover, the health cases that can be covered, and the general medical benefits that can be obtained by the insured should be looked at.

Expatriates used to constitute about 75% of public hospitals patient burden. Thus beginning 2001, medical services are no longer free to expatriates but are still provided with high subsidies. Come 2004, only foreign patients required for admission are accepted by public hospitals. Discount is only provided to cover room rates but other services while in the hospital are unsubsidized. However, life threatening emergency cases are provided free of charge.

Public hospitals offer the most number of surgical procedures. However, private health insurance in Dubai has no provision to allow procedures to be done in public hospitals so they go to private health practitioners just to avoid from personally paying for the procedure.

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What about being resident in UAE?

For individuals planning to live in the United Arab Emirates, you have to obtain a residence visa, which is also referred to as an employment visa. A residence visa will be issued by the Immigration department of the emirate you will be staying in and provided to you by your sponsor (the company or person you are working for). If you have entered the country on a visit visa, you can transfer to a residence visa by either re-enter the country or else make the transfer at the Immigration department.

If you are coming to the UAE with family members, you should obtain a family visa, which will allow you to sponsor your parents, spouse, daughters, and sons under the age of 18. Family visas are only possible if you earn more than AED. 4,000 (US$ 1,100) a month.

Residence visas are normally issued for 3-years and in order for it to be processed, you will need to take a medical test and obtain a health card. Individuals who test positive for AIDS will not be permitted to obtain a residence visa. A health card costs around Dhs. 300 (US$ 82) and should be renewed yearly. It can be issued at the Ministry of Health or else at a recognized private hospital.

Overstaying
A penalty charge of AED 25 (US$ 7) - AED 100 (US$ 28) per day is imposed on visitors who overstay. If the overstay extends to a significant amount of time, then a court hearing is issued and the judge will decide what penalties will occur.

Issuing Authority
The Dubai Naturalization and Residency Department (DNRD) is the sole administrative authority of the Ministry of Interior that deals with issuing visas to foreigners visiting the country.

Note: We would recommend that after you finish reading this page and you also contact the UAE embassy or consulate in your country, as visa issues may have changed. Links to online UAE embassies and contact details of many UAE consulates have been included on the right.

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What about English Television in the UAE?

This is very easy. You can subscribe to either Showtime http://www.showtimearabia.com or Orbit http://www.orbit.net.

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What happens after we have purchased?

VPPI can offer you peace of mind after the purchase of your property in the UAE. Our commitment is to be with you every step of the way through your purchase as if we ourselves were purchasing the property. We will assist you with finding your furniture (or removal company), alarms, satellite TV, pet travel, financial requirements etc. Basically we are your one stop as we are working with you today so you can enjoy with your family tomorrow as we can help you with almost anything you require.

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Can I take my pet to the UAE?

You will need a pet passport. You will need to ask your vet to apply for this, your pet must be micro-chipped, take a blood test and have the inoculations for rabies etc approx. 6weeks before departure to the UAE. We can also put you in touch with some companies who specialize in pet travel so you do not need to leave your loved one/s at home. Please contact us for further assistance +97150 220 2313.

Vaccinations & Paperwork required

For example: In the UK the Ministry of Agriculture Fisheries and Food, Telephone + 44 8459 33 44 77 has information on importing animals to most countries including the UAE. The UAE Embassy also provides information.

To import a dog/ cat to Dubai you need an import permit. The UAE Ministry of Agriculture and Fisheries issues this document. The following fax copies are required:

· Copy of owner’s passport

· Copy of UAE residency visa or offer of employment letter

· Copy of vaccination card (rabies must be less than 12 months and more than 30 days)

· Credit card number or other guarantee of payment

It takes 2 to 3 days for your permit application to be processed. You also need:

· An export certificate issued by, in the UK, the Department for Environment Food and Rural Affairs “DEFRA” (your vet can apply for this)

· Your dog must be examined by a vet recognized by DEFRA within 48 hours of departure

· You must sign a declaration stating that you have not imported the dog into the UK less than 6 months prior to departure.

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How can we look at property?

VPPI viewing tours are tailor made to your requirements.

You tell us your basic requirements and we will find the appropriate properties for you that are within your budget! Once you have decided to come to the UAE we can make all the arrangements for you. When you arrive at the destination airport we will meet you and take you to either a hotel or private accommodation depending on the duration of your stay. On your trip we will introduce you to the new developments or resale properties available that match your requirements. However you will find no pressure from VPPI and we give all clients a complete and personal service to find the property that matches your requirements and are willing to advise you on all positive and negative aspects of every property. We do not see it appropriate to pressure you into buying a property that you are not completely satisfied with. Although you are under no obligation to purchase we do not want clients using one of these tours for any other reason or you will be held in breach of contract and are liable to pay the full cost of the inspection tour.

These viewing trips are 100% pressure free!
Includes airport collection (in the UAE) & accommodation!
At Versailles Palace Property Investments we welcome you to the UAE as we are working with you today so you can enjoy with your family tomorrow!

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Who can purchase a property in Dubai or Abu Dhabi?

Any investor, overseas or resident, can purchase in Dubai’s / Abu Dhabi’s luxury freehold property developments.

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Can I purchase anywhere in Dubai or Abu Dhabi?

Non UAE nationals can only buy in areas designated specifically for expatriate freehold and leasehold sales.

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The Ownership Law

The Ownership Law extends property ownership to both GCC nationals and other foreigners –albeit in “Investment Areas” known as Designated Freehold Areas in Dubai. Ownership in all other areas of Abu Dhabi is still restricted to UAE nationals. Some investment areas for overseas buyers include Al Raha Beach, Reem Island and Saadiyat Island.

The Ownership Law permits GCC Nationals to own both land and buildings within these Investment Areas on a freehold basis. Other foreigners are permitted to own buildings and/or floors within buildings in the Investment Areas on a freehold basis but have no freehold ownership rights to the underlying land. Instead, foreigners can enjoy 99 year leases of already built up land, (known as usufruct leases) and 50 year development leases (known as musatahah leases,) which allow lessees to build up and enjoy undeveloped land. Under the Ownership Law, both usufruct and musatahah leases maybe for like periods of time upon agreement between the parties.

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What does freehold ownership mean?

The owner of a freehold title of real estate enjoys the most superior form of private ownership. A freeholder is considered to be the absolute owner of the land and buildings comprised in his title; he has the right to occupy, use and enjoy his property forever ("in perpetuity") or until he transfers the title to a new owner, and his heirs are entitled to inherit his title upon his death. Nevertheless, a freeholder does not have total freedom to do what he wishes on his land.

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Does one have to be physically present in the UAE to buy a property here?

It is possible for the prospective purchaser to give Power of Attorney to a person to handle all the aspects of the purchase on their behalf. It is not necessary that one has to be present in Dubai or Abu Dhabi to conclude the deal. But it is advisable that they check all the documentation and ensure that everything is clear before signing the deal.

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Do I have to be resident in the UAE to purchase property?

No. You don't need to be a resident to purchase a property in the UAE.

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Are property owners eligible for residence visas in the UAE?

New Dubai property owners and their immediate family are granted applications for residence visas in accordance with the latest immigration regulations. Please note, only the government of UAE can issue visas not a developer or estate agent.

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Is there any Capital Gains Tax on the sale of the property?

No.

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What is an offshore company?

An offshore company is a business entity that is formulated in a low tax or tax jurisdiction for the purposes of legally minimizing any type of tax payment and improving your wealth management. "A wealth management tool that can be utilized by anyone legally and legitimately."

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Why open an offshore company?

Primarily one would open an offshore company to gain confidentiality over their financial affairs and grow wealth without intrusion. Offshore companies can eliminate or minimize many types of tax payments such as: Capital Gain Tax, Death Duty, profits on business earnings and property sales. An offshore company legitimately assists you in gaining confidentiality over your financial affairs and growing your wealth.

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Can I purchase using an offshore company?

This is certainly possible, and using a Dubai offshore company can also be explored.

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Can a property be owned by an offshore company?

Yes. It is not uncommon that offshore companies are used as property-owning vehicles for property in Dubai or Abu Dhabi. Dubai has recently introduced regulations that allow offshore companies to be set up in two distinct "free zones". These free zones have broadly similar regulations that permit offshore companies to own property in designated or approved developments. Set-up costs (of a few thousand dollars) and annual renewal costs (of a few hundred dollars) are relatively low although there are several restrictions on what these companies can do in Dubai. The regulations require a Registered Agent to be in Dubai and several firms of lawyers and accountants are registered to act as such.

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Can I put the property in my Will?

Yes, but if you are looking to ensure the property passes directly to your spouse, be aware that wills are not recognized under local Shariah Law. It might be worth considering some form of offshore structure to purchase the property so that it passes within your estate encumbered.

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If I own the property in my own name, what happens to that property upon my death?

When buying in Dubai, in the event if death, the property does not necessarily pass to the wife since the Sharia Law (the governing law of UAE) determines otherwise, as laid down in the Quran. In order to ensure the property passes on to those you wish, an offshore company can be established with the spouses as Directors. In the event of their demise the shares of company are passed on to the surviving spouse and beneficiaries. Although the spouse has died, the offshore company has not; thereby an internal transfer of shares circumvents this potential Sharia hiccup.

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Can I get finance in the UAE?

Yes if you are a resident, but terms differ between the limited numbers of local lenders. However finance can be arranged through overseas lenders if you have assets overseas too. Many property investors with assets overseas (property, income, investments) have taken advantage of favorable international interest rates. For example, someone with property in UK may be able to release equity to a maximum of 80% of the value of their property (less any outstanding mortgage), to finance all or part of their property purchase in Dubai. Interest rates can be secured as low as 3.5% n sterling terms as opposed to 6.5% in Dirham’s locally.

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What banks in the UAE are currently offering loan on properties bought off-plan?

The banks currently offering loans are Mational Bank of Abu Dhabi, Standard Chartered Bank, Barkleys Bank, Emirates Bank, Emirates NBD, Abu Dhabi Commecrcial Bank, HSBC, Amlak, Dubai Islamic Bank, Rak Bank, Mashreq Bank and Tamweel.

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What mortgage facilities are available for international investors?

There are various mortgage options available in the U.A.E, however, the options are not as attractive and widespread as those available internationally. Overseas banks do not provide lending facilities towards UAE properties directly; therefore one must resort to local lenders. However, finance through overseas lenders can be arranged with favorable international interest rates, if one has assets overseas. Another form of finance is by having an investment portfolio, which is used as a security to obtain a loan. The last resort is to go for the local UAE banks.

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Do I need insurance for my Mortgage?

Most lenders (banks and building societies) will require some form of protection for the loan. This makes sense since you want your property paid off in the event of your death or diagnose of a serious/terminal illness. Banks on the hole do not like repossessing property and would prefer the loan to be repaid from an insurance policy should a serious event occur. Seeking the right insurance is important since it comes in many forms. Whole of Life, term and Endowment policies are all widely available in the UAE. Get advice on how to determine which one is right for you. Similarly, it pays to use a broker since they normally secure terms well below that which is offered directly by most banks.

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What are the opportunities for rental yield and capital growth?

In the rental market, there are issues of over-supply, and as far as capital appreciation is concerned, there is concern over build-quality and built-duration. Neither of these considerations should be over-looked when considering the investment potential. Certainly, at the flagship Palm Jumeirah development there is a healthy re-sale market achieving massive premiums of up to 800%. This is not representative of the Dubai market as a whole and to a large extent reflects the unique status that Palm Jumeirah enjoys worldwide. Having stated that, real estate experts believe that rental yields and the prospects of capital growth are excellent in Dubai property market.

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Are there any taxes due when purchasing property in the UAE?

The cost of a standard property purchase in UAE;

· There is no income tax or capital gains tax on property sales or rentals in the UAE.

· 2% to 4% stamp duty is payable on property purchases in the UAE.

· A 1.5% land registry fee is also payable on completion.

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Are there any additional costs?

Other purchasing costs may include a transfer fee to the developer of re sale properties. This is usually between 1% and 2% (depending upon the development) of the original sale price. The other cost would be for the Real Estate Broker which is typically 2% of the purchase / resale price , this commission should be payable on the completion of the sale.

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Why Purchase a Property in Dubai?

Dubai has a record for strong economic growth which provides a haven for investors. With the presence of free-trade zones, rising tourism and a GDP that increases an average of 7.5% per year, there are countless reasons for an entrepreneur or an investor to consider Dubai. By contrast Western economies consider their growth to be strong at 2%. With expected population growth, and investment increasing in the property market, Dubai continues to represent a strong opportunity even with the massive amount of development taking place in Dubai.

Tax free society. Individuals earn tax free salaries enabling to support house prices.
There is an exceptionally high demand for freehold property.
Property in Dubai is cheaper to purchase than other international countries and rental earnings are high.
Excellent quality of life, providing a safe and clean environment.
Fastest growing tourist destination.
Regions leading financial centre, IT centre, Media centre and Transportation hub.
Ultra-modern infrastructure.
Political stability.
Secure with a virtual low crime rate environment.
Cosmopolitan life style providing world-class entertainment events, international golf, horse racing, tennis, themed hotels, shopping malls, outdoor adventures, and more...
Diverse Society. There are approximately 200 different nationalities living in the city.
Great location - Dubai is situated on the tranquil Gulf coast, with beautiful natural desert and mountain landscape.
Sunny and warm weather all year around.

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Why Purchase a Property in Abu Dhabi?

Abu Dhabi is the Capital of the UAE, and the largest of the seven Emirates, constituting over 85% of the nation's total land area. Abu Dhabi possesses 10% of the world's oil 5% of its gas reserves, and produces 90% of oil in the U.A.E. The generated income has been purposely invested to create a first class infrastructure and flourishing modern metropolis. The city is a unique mix of traditional Arabian charm and cosmopolitan sophistication. Combined with its beautiful beaches, fantastic shopping and top international resorts Abu Dhabi City an ideal place to live, work or visit.

Statistics

With a population of 1,600,000 and a land area of 67,000 square kilometers, Abu Dhabi is the largest as well as the most populated of all the Emirates. Stretching south to the beautiful green oases of Liwa lies some of the world’s largest sand dunes and to the east is the ancient oasis of Its sandy coastline is dotted with over 200 islands and is gently lapped by the azure waters of the Arabian Gulf. The Emirate was once the world's best site for pearling and its rich seafaring tradition continues today with a myriad of water-sports activities available from sailing on a
traditional dhow to diving and deep sea fishing. Abu Dhabi is 160 kms south of Dubai, the second major city of the UAE, and is easily accessible by car or plane.

Abu Dhabi is closely following Dubai’s recent example, but with a few strong exceptions that are making Abu Dhabi look by far the better investment prospect:

Culture. Abu Dhabi already has satellites of the Louvre and the Guggenheim museum with more cultural attractions planned, including a Formula 1 race track complex that dwarfs the Dubai track.

Slower growth. Rather than rushing headlong into massive growth explosions, Abu Dhabi is taking a slower, more sustainable approach to growth, thus avoiding instances, particularly when several developments come on-line at the same time, where supply outstrips demand. Dubai is already showing signs of a glut of office space, yet development continues unchecked.

Timing. Dubai has already been through a major property value upswing and Abu Dhabi’s is only just beginning. Potentially with even greater rewards.

Taxes. While both Abu Dhabi and Dubai are tax free, Dubai’s oil supply is predicted to run out in the near future and there is already talk of introducing income and property taxes.

Proper development planning. The Abu Dhabi authorities are determined not to make the mistakes made in Dubai.

Build Oil supply. Abu Dhabi’s oil supply is considered to be the world’s fourth largest supply and constitutes 90% of the UAE’s oil reserves with 98 giga barrels, predicted to last at least 100 years.

Rental incomes. Due to the slow growth rate, and a large imported labour force, demand for rental properties exceeds the supply and incomes are high compared to Dubai.
Lifestyle. Abu Dhabi has far more coastline than Dubai and much of the recent development is along the waterfront, creating a Mediterranean-like feel.
Internal investments. Much of the income into Dubai has fled the country, but Abu Dhabi is determined to invest in herself, with a new trade center valued at $95 million and a bridge to Saadiyat Island costing more than $150 million.

There is no doubt that Abu Dhabi has a bright economic future. With a century of oil reserves, a modern infrastructure and a stable political system, no significant overseas debt and secure, sustainable growth planned. Abu Dhabi is the economic center of the United Arab Emirates and fully expects to become a world showcase for planned growth in the near future. Most importantly, they have learned from mistakes made in the past.

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Is a solicitor needed to purchase a property?

There is no need for a lawyer, but it is advisable to consult with one prior to purchasing any property from Developers or if buying property from second hand market. You generally do not need a lawyer if you are buying from developers such as Dubai Properties, Emaar, Damac, Nakheel, etc.

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How often do they paint the outside of the property?

Normally Landlords should paint once in three years.

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Versailles Palace Property Investments Co. P.O. Box: 108221 Abu Dhabi, U. A. E
Tel: + 971 2 642 5000 - Fax: + 971 2 642 0649 - E-mail: info@versailles-properties.com - V.P.P.I. Co. Copyright - 2009