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Dubai to bid for Olympics

Dubai is considering a bid for the next available Olympic Games. Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s ruler and vice president of the UAE, told journalists about a possible bid during his state visit to China, although he was not specific about the target date but said a study would begin immediately.

The Olympic bid will be welcomed by avid investors who have already purchased property in Dubai’s Sports City, which is to become the largest sports complex in the UAE and probably in the world once it is completed.

Dubai Sport City, which is currently under construction, could provide a potential venue for the games. The custom-built complex will feature a 25,000-seater cricket stadium, a 60,000-seater outdoor arena that could hold track and field events, and a 10,000-seater multi-purpose indoor arena.

Currently, Dubai hosts many major sporting events, including the Dubai World Championship, a golfing event with a grand prize of US$10 Million. Likewise, this year the Emirate enjoyed the Barclays Dubai Tennis Championship, while the biannual cricket internationals are also held in Dubai. The UAE’s capital, Abu Dhabi, will also host its first ever Formula 1 Grand Prix next year.

Please click on the link for more information about overseas investment property in United-Arab-Emirates