一個(gè)國(guó)家房地產(chǎn)市場(chǎng)的增長(zhǎng)是與該地區(qū)的基礎(chǔ)設(shè)施發(fā)展緊密結(jié)合。經(jīng)濟(jì)穩(wěn)定和經(jīng)濟(jì)的繁榮是由房地產(chǎn)開(kāi)發(fā)商和潛在的投資者嚴(yán)格予以評(píng)估。在過(guò)去十年中 樓市和建設(shè)的貢獻(xiàn)已在所有從 15%增加到 18.90%。城市發(fā)展，，像衛(wèi)生的基本準(zhǔn)則又顯示了幾乎 4%的跌幅在過(guò)去十年從 58 至 54%在次大陸，該地作為阿聯(lián)酋一貫在提供幾乎 98 到 100%在整個(gè)世界銀行 的研究。

The infra structure development rate of India was considerably less of up to 4.60% in 1998 after which the government opened its door to 100% FDI and saw a rapid transformation to 9%. Since then a considerable percentage of the GDP comes from the realty sector of up to 12% lately for India and UAE heavily dependent with 19% for the same [4] . According to the world bank records in India every rupee invested in the housing is converted into INR0.78 for the national GDP and directly employing 16% of the total work force. [5] 

The construction boom in the UAE, particularly in the emirate of Dubai, is one of the leading sectors of economic growth in the country (growing 10 percent in 2005), and is among the biggest and fastest growing construction markets in the world. The growth in construction has fuelled the growth of the UAE economy, contributing 8 percent to the country's overall GDP and 11 percent of the non-oil-related GDP in 2005 [6] . According to a study by the Dubai government, "Dubai construction sector['s] absolute contribution to the GDP is on an upswing, achieving an increase of 23 percent during the period 2000-2004, and an annual growth rate of 5 percent. The types of construction projects completed in 2004 included 1,436 villas, 393 commercial buildings, and 290 industrial, entertainment, and service buildings" [7] .

The government policies to improve the business and investment environment, along with the innovative ideas to establish specialized zones for different kinds of trading activities helped it to mark itself as 'hub' for many of the Multi-National Organisations. Some regions were developed into the Media city attracting big media tycoons like the BBC and CNN along with others like the Internet city giving way to the MNCs like the Oracle and Microsoft grabbing the opportunity to stay ahead of the market. Those developments ensured a leading role for the country and helped in attracting regional liquidity in the form of FDI.

The above table reveals the astonishing growth in the inward flow of FDI in the last decade for UAE when compared with India. The country's prospects and open door policy to investment and sound infra-structure have been the main reasons behind this. FDI contribution to the real estate sector will be helpful towards better organising the sector. Besides increasing professionalism in the sector, it will bring more advanced technology; create a healthy competitive market driven by innovation which is attractive to both inbound and outbound investors. Considering the sheer size and material resources backing both the countries the achievement of UAE has been remarkable.

In March 2006 the Dubai government issued Dubai Law No. 7 [9] , which legalisesfreehold ownership of land and property for UAE and GCC citizens while allowing the same rights to non-GCC expatriates in designated areas. The new law paved the way for expatriate homeowners to register their properties in their names with Dubai Lands and Properties Department. The law was followed by a number of new by-laws that identify the freehold areas in Dubai and determine the registration fees and procedures. Reform of the property law, which has been in the pipeline for some time, has encouraged development on an unprecedented scale in Dubai.

Dubai had a total residential stock of approximately 273,000 units, with an addition of 24,000 being completed in this year. As of the current scenario it is estimated that by the end of the decade 1 million sq. ft. office space generating 85,000 to 90,000 new jobs will be open irrespective of the massive delays and cancellations. Abu Dhabi on the other hand is investing on creating more residential space increasing it to 6.2million sq. ft of net leasable area, or A grade space. A decrease of 40-50% decrease in the floor value and a loss of 20% average rent when comparing to the peak in 2008 clubbed with the stringent bank policies has put down new foreign investments.

The crisis relates to Dubai World, which is a holding owned by the Dubai Government that manages some 90 entities and expands well beyond the national boundaries. The organisation has a major role in the direction of Dubai's economy with regards to the way Dubai is perceived by the outside world. In November 2009, the Dubai World delayed a payment of 26 billion USD for six months and this shock the confidence of investors holding the government debt, and had a domino effect on downgrading the credit rating of several governmental entities across the world [10] .

According to Proleads, a Dubai based research firm, approximately 52.80 percent of the total civil construction projects portfolio of the UAE, most of which is in real estate worth a combined value of 582 billion USD is put on hold while a further 698 billion USD is operational. The negative impact of the recession is still prominent with the cancellations on the rise, but a significant thing is that the government continues to invest on the infrastructure development by allocating 16bn AED from their annual budget even in 2009.

The surge in inflation in the latter half of the decade shows a trend towards a steep rise in rental and housing category which contributes to almost 36.1% of the Consumer Price Index. Towards the end of 2008 it had a considerable increase of 17.5% comparing to the previous year and over all of 11.9% from 2003 - 2007. The economic growth due to the increase in FDI and development in construction and property market has impacted in a huge flow of expatriates. As the consequence of this the housing rent has risen steeply.

With the growing population it anticipated to that there will be a demand for 4.20 million moderate housing spaces in India [11] . For this over 150 overseas private equity funds have teamed up with real estate developers in India [12] . The industry experts anticipate the realty sector will attract $108 billion USD worth of investment by 2012. The rationalization and liberalization policies of the country has created an opportunities for foreign investors and NRIs to invest in India. These situations create a demand of almost three times as that of the supply.

Conclusion 結(jié)論

The falling crude oil from USD150 to below USD50 a barrel eased the inflationary effect of the consumables like food and raw materials which were the main driver for the economic downturn in 2009. This acts as a buffer for the tax burden, significantly increasing the purchasing power of people. India houses a major population of world's poor people requires more complex housing term since the present terms will be unacceptable to them.

Points..

On December 6 2009, the Reserve Bank of India cut interest rates for the third time in less than two months, bringing its repo rate down to 6.5% from 7.5%.

The contribution of the property market and construction had grown over all from 15% to 18.90% during the past decade.

Porter's Five forces.