‘We were impressed with vision of the city’



It was eight years ago that Rajaa Abu-Jabr, a professor at Dubai's Higher Colleges of Technology, moved to the emirate for work.

Born in Palestine, she and her husband had been living and working in the United States before the economy declined and they began looking for jobs elsewhere.

Returning to Palestine, however, was out of the question due to concerns of safety and stability.

"We wanted a safe, multicultural, and cosmopolitan place that can bring the East and West together," said Ms Abu-Jabr.

Her family was also looking for a change of pace from the monotony of small town life.

"Not much diversity existed around us and we did not want our daughter to grow up in an environment where she would feel she was different all the time," said Mrs Abu-Jabr.

Looking to return to their roots in the Middle East, the Abu-Jabr family searched for a place that could match the lifestyle they enjoyed in the US while allowing them to experience the culture of the Arab world.

"Choosing Dubai wasn't really difficult," said Mrs Abu-Jabr. "We were so impressed by the vision of the city.

Though parts of the city recalled her Palestinian upbringing, others were a happy surprise.

"I was surprised to see a new model of governance in this region where leadership is contributing to the development of the nation.

The countries in the region have abundant natural resources, but almost none of such resources is being used to help its nation grow.

"Dubai's model gave us hope."

newsdesk@thenational.ae

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.