The Gulf state wants Asians to invest in the so-called eighth wonder of the world
Two years from now, passengers flying into Dubai will be greeted with the spectacular sight of a giant green palm tree growing out into the deep blue ocean, its symmetrical branches topped by an over-arching crescent of green.
Already being described as the 'eighth wonder of the world', the tree and the crescent are part of a giant reclamation project under construction and, when completed, it will contain some of the most expensive properties in the world. The project bears the name Palm Jumeirah.
The groundwork on what engineers claim is the world's largest manmade island has been completed, and the buying and the selling have already begun.
As Dubai is busily building on its ambitious plan to become a regional financial hub, like Hong Kong and Singapore, real estate players in the Gulf emirate (population 1.5 million) are tapping investors in Hong Kong and other parts of Asia.
'Dubai real estate is the hottest destination in the world to put your money into property at the moment,' said Mike Bridge, regional sales director with Dubai Shows. 'There is no other city in the world where the value in property is rising as fast as it is in Dubai.'
