Dubai unaffected by credit crunch

Overseas property investors could collect strong returns in Dubai, an expert has advised.

According to Ahmed Jamal of Emerging Markets Property Advisors, the emirate is one of the best investment markets in the world.

This was said to be because it has a very strong rental market, which means investors can enjoy high occupancy rates and healthy rental yields.

Mr Jamal added that many other popular property hotspots have been negatively affected by the credit crunch.

However, he stated that the problems in the worldwide economy have not extended as far as Dubai.

"People are talking about a global property crisis but the terminology is incorrect," he commented.

"There is a crisis in the US and parts of Europe but other places are doing well."

This comes after Dubai Tourism and Commerce Marketing revealed that about seven million people booked accommodation in the region during 2007.

According to the organisation, this number could possibly increase to ten million in two years time.