Rental yields on a new beachfront development in the heart of the Dubai Waterfront, near the base of Palm Jebel Ali are expected to reach an attractive 12 percent per annum after they are completed in 2010.

The demand for rented accommodation will be assisted by the fact a staggering 25,000 foreigners are relocating to Dubai each month.

With the population already topping 1.6 million it is anticipated that by 2010 there will be 2.2 million, with long term estimations of over 4 million residents by 2020.

Oliver Hickey European Finance Director of Profile Europe (UK) Ltd said: “To break the figures down, this is 800 new residents a day which equates to 33 an hour. One has to understand, that these figures do not take into account annual tourist figures which already surpass five million.”

Profile Europe (UK) Ltd is marketing the beachfront development Zero Five Zero, an exclusive residential project comprising of studio, one, two and three bedroom ‘turnkey’ apartments and penthouses offering panoramic views through floor to ceiling windows over Dubai.

The apartments come with air conditioning as standard, fully fitted kitchens, terrace, safe, storage, and TV/internet connections. Other amenities include parking, garages, gym, community pool and landscaped gardens. One bedroom apartments start from £400,000.

Hickey concluded: “The influx of foreign nationals is having a positive affect on Dubai and almost every industry is benefiting as more and more migrants stoke this thriving economy.

“With Dubai ideally positioned between East and West and vying to become the number one transit hub for world travellers, effectively knocking Singapore of its perch, its long term investment possibilities are superb with few other world destinations coming even close to Dubai.”

• Fly to Let investors looking for somewhere different were able to find details of properties for less than £15,000 at the Thai-British Buddhist Festival, a Thai arts and culture festival held at Kings Bromley in Staffordshire last Sunday.

The properties were being exhibited by Thai Holiday Villas, a member of the Association of International Property Professionals. Managing Director Rodney Giles said: “We were there to explain to visitors how they can escape the credit crunch. We are a family firm and all the properties that we offer are new developments and have been personally inspected by one of us.”

Giles describes Thailand as a country with a rich cultural heritage, but a low cost of living where money goes three times further than in the UK.

The Festival was organised by the local Buddhavihara Thai Buddhist Temple based at the historic Eastfields House - once part of the Earl of Lichfield’s Estate.
Potential property investors and other visitors were treated to a continuous programme of entertainment including Thai Dancing Theatre puppets, Thai Boxing and Sword displays and the first UK Thai British Costume contest. Thai Buddhist Monks based at the Temple performed traditional chants.

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