Off Topic — HabitableZone

Off Topic » in reply to Mazeltov.

You got me curious.

Dubai Freehold Property
"As the emirate of Dubai is not rich with oil like Abu Dhabi, Dubai has always focused on the development of its economy by establishing itself as a trading hub between the East and West. In addition to this, it is also establishing itself as the tourism destination for the region, so it has worked heavily on the promotion of real estate development."

The Definition of Freehold
"The United Arab Emirates currently doesn't have a federal law defining freehold. Once the freehold property law is in effect, it will means that the property purchased by a foreigner will be put his/her name for life, which allows him/her to register the property in the Lands Department. The owner will then have full rights to the property and has the right to sell, lease or rent their property at their own discretion. Property owners and their immediate family, will obtain renewable residence visas for life, which can cost Dhs. 5,000 per person."

Dubai Business Bay is intended to maintain Dubai as the region's business capital and will be similar to New York's Manhattan and Toyko's Ginza business centers. It is intended to provide a conducive environment and infrastructure for businesses from around the world to set up their local, regional and international headquarters."

It looks to me as if they'll have to accommodate alcohol, pork and probably even casinos if they want to attract the kind of businesses in Manhattan or Tokyo.

Arf

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