UAE is considered the most diversified economy in the GCC (Gulf Cooperation Council) but the country still depends upon oil revenues for its development. It is due to this reason that the UAE government is actively trying to promote other sources of development and projects which can shift the dependence from oil-based revenues to other sectors like tourism.
The cities of Dubai, Abu Dhabi and Sharjah are the prime locations of the country which are offering investors and businesses from around the world an opportunity to expand their business in this region. The fact that UAE has an open economy and has really good trade relations with a lot of countries helps it to have a better opportunity for growth.
The UAE government is trying to focus on different factors such as infrastructure, tourism, power generation, etc. The result is the huge number of projects in UAE which are either already undergoing or are slated to undergo in near future. With the right to host World Expo 2020, UAE is really looking forward to increased economic growth and development in future.
The interesting and beneficial part of these projects is the procurement system of the Ministry of Finance. The UAE government is known to follow a fair and transparent system for tendering and awarding contracts (eProcurement System). This system allows the Ministry to invite tenders for various projects and also announce the contracts. It consists of a tenders and auction system which ensures the success of the purchases and also helps in reducing administrative as well as financial costs (due to the participation of suppliers and dealers in tenders, auctions, and bids). The invitations expected for projects are made public and is accompanied by a clear set of guidelines that the bidders must follow.
UAE is considered to have the market for all types of services and industries. From Construction and IT to Healthcare and Oil/Gas industry, there are opportunities available for all types of projects and industries. The current time is considered as the most crucial time for the UAE in particular as the government is giving a major push to improve the economy of the country and provide opportunities to its citizens to get involved in tremendous development work happening around the country. At the same time, it is also inviting world-class companies to do business in the country and open up even more opportunities for the people inside as well as outside the region.
Ways to invests in real estate profitably
Many people around the world look forward to having a investment plan, especially those who are in their teenage and in their 20s and want to have invest in a new launch condo. They do imagine the outcomes (probably the pros, not cons). They think of the things that it will be manageable once they have their own business, they plan everything in their minds but they are not much aware of what could happen in the first place if, they try to do it in an imagining way.
Hence, there are some prior strategies for those who want to have a business plan in property investment but, two are those that have been in the investment game since the very first day, these are:
- Buy a property and rent it out
- Buy a property and sell it on for a profit
But, if it was that much easy; people around the world would be millionaires or billionaires by now. Every business demands investment and investment done at a proper time gives you profit. Therefore, you should think properly before investing in what strategy would best fit for your business in terms of gaining profit. These strategies are as follows:
- Single lets to Professionals
- Student let
- Commercial Property
- Lease options
Professional Single Lets is a buy-to-let investment strategy, in this property strategy, you make sure that you are renting out the property to a group of people known as “organization” or to some “individual”. This strategy gives you more simplicity rather than adapting to any other strategy.
- Easy to get started.
- You can get mortgages in easiest ways.
- Little management time.
- Predictable returns.
The only disadvantage of this startup strategy is that it does not give you back high returns as compared to other strategies when it comes to new launch strategy.
Student-lets are the ones that concentrate more on the student market, as the influence is getting higher by the day and students are more into new launch strategies, these strategies allow them to discover new ideas prior to their knowledge and facts.
Student-lets somehow refer to the hostel typology. In this sense, students get in or out easily, they try to have on join contract and have a room shared with other students as well. Hence, it also has its advantages as well as a major disadvantage that makes it unbearable on the other side when thinking of negativity.
- Increased Revenue, Less Management.
- Predictive Student Cycle.
The disadvantage is the accommodation issues, hence when the student cycles exceed the limited amount, it becomes a con for new launch strategy.
When it comes to new launch strategy, people around the world want to have a business from which they can have profits and profits only and has to have fewer management terms. In this sense, they look forward to having Property Investment mechanism but, little they know that it becomes harder when it grows or any other business grows, it requires more management skills. Hence, in a persuasive way, the more the will power, skill, and management; the more profit you get.
In this sense, these strategies allow you to have an insight of what you want when it comes to new launch strategy.
5 Advantages of Depreciation for Properties
Depreciation is a term frequently used in economics and finance that describes the loss of value over time. Depreciation can affect any asset, such as cars, real estate, stocks and even currency. Depreciation can arise from a variety of factors such as wear and tear, obsolescence and economic factors like demand for the asset. Depreciation can be both advantageous and disadvantageous.
It allows businesses to account for the slow degradation of the equipment as it is used throughout its life. A value is assigned to the asset and gradually expensed throughout the years it is used. This is designed to accurately reflect the usefulness of the object to the business, and therefore its value.
Below are the advantages of depreciation on properties:
It reduces start-up deductions
This option can reduce start-up costs by increasing deductions that are taken during your business’s first years of operation. This will allow you to reduce your overall business tax debt, which means that you will have more money that you can use for marketing, purchasing equipment and growing your company. This also means that you will have increased chances to succeed in the market.
It allows you to take a higher upfront deduction
Another huge advantage of accelerated depreciation is that it allows you to immediately take a higher deduction, and so, you can reduce your current tax bills. This is really helpful especially when you have a new business that might be having problems with short-term cash flow. Also, by maximizing deductions today, you will be able to avoid delayed deductions in the future when it happens that your business no longer exists.
It works as a tax deferral
As this depreciation system creates increased deductions, your business will be able to defer a portion of its tax debt. If your company is trying to reduce taxes that it currently owes, deferring tax debts with the use of this approach will provide you additional time before the time when you must pay your taxes in full amount.
It helps in replacing of assets
Assets used in the business need to be replaced after the expiry of their useful life. Depreciation can be taken as a source of fund for replacing worn out asset by a new asset. Thus, depreciation charges help in accumulating funds for the replacement of an asset.
It saves some taxes
The profit and loss account will show more profits if depreciation is not charged on asset. So, the business needs to pay more income tax to the government. Depreciation charges on assets save the amount of tax equivalent to tax rate. Since it is shown as expense in the profit and loss account, it reduces the amount of the profit.
How to Add Comfort & Space to your Apartment?
Most of the families around the world nowadays prefer apartment living due to the many conveniences and benefits. But, moving from typical bungalow to apartment can be challenging and adapting to the small space requires careful planning and lots of patience. Let’s have a look at some of the most effective ways to make your apartment more comfortable and less intimidating!
Let the first impression show
It’s most unfortunate that many people living in apartments ignore the hallway area and the front door of their homes which is the first thing everyone notices. And if that’s untidy or neglected, visitors would leave with the first bad impression of your apartment no matter how slick and smooth the remaining interior. It also give the place an unwelcoming touch but, you can definitely overcome the issue by keeping the hallway and entrance as neat and tidy as possible. A word of favour should be added for a company that deals in apartments for rent in Dubai, for providing such useful information.
Versatile furniture, maximum space
Special care must be given to furniture when adding them to your apartment. You don’t want the tables, sofas, chairs and bed to take up all the space, making it difficult to move around. Traditional style furniture which is usually multipurpose bearing compact seating, foldable compartments and built-in storage features is a more effective solution. Such would help with apartment living in a fully functional and comfortable way.
The luxurious & spacious look
There’re many different ways to make your apartment look spacious and luxurious. Hold a meeting with an interior designer, paint, lights and furniture experts who can actually guide you with the best details and fitting per the apartment setting. For instance, installation of lighting per the colour scheme, addition of mirrors or particular wood and how it can bring forth an optimistic change to overall interior!
Declutter & prevention
All unnecessary items must be removed or least stored in a compartment to give the room or interior more space. Leaving behind a mess and loads of items are sure to take space as well as obstruct your ability to work and move conveniently.
When peaceful and preventive apartment living is concerned, a clean and mess-free interior is crucial which can be achieved simply if you keep all necessary items to their respective places and discard all unnecessary stuff. And once declutter, make sure it remains clean in future.
No matter the season, proper ventilation is necessary for cleaner air and comfort of all dwellers. It’s to ensure that your home interior remains stable that is; no excessive heat or utterly cold. Invest a little on energy-efficient systems, high-performance insulated windows and doors that can actually trap heat during winter and coolness in summer. Simple mechanism has the potential to bring forth an optimistic change especially when you’re moving to an apartment.
Make the most of the walls
In case the apartment is small, it’s best to use space as creatively as possible. Instead of wider base furniture, go for items that you can hook to the wall. Take for instance versatile entertainment centres/tables with built-in shelves that altogether become storage areas for books, CDs, family photos, medicine cabinet and so on. The more creative you’ll go with the walls, more the floor space.
If your apartment living is a temporary move such as, going in as a tenant; consider storage units and make sure they’re easily accessible. This is quite handy whether you’re move is permanent or temporary so as to keep all necessary stuff at the right place without losing it!
Throw or recycle
Families need throwing away all unnecessary stuff for a comfortable living or least recycle it for better use. Humans tend holding onto things that aren’t of any use while adding new to the pile which worsens the clean-up process and make even a spacious interior, cramped and uncomfortable. It’s about time you stop doing this and make a habit of discarding trash and recycle that which is necessary.
With some preparation and ingenuity, you can transform any apartment into an enjoyable place.
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