Personally I would wait.
The stock market in DXB is the perfect example. Notice that the 'crash' happened after they opened it up to outside investors. As soon as they went public that they were opeing the markets to foreign money I knew the jig was up---prices had risen and liquidity dropped to the point that they needed outside money to prop prices up.
Housing looks the same. Rapid development to the tune of ten of thousands of units--who is going to buy or rent them. In the ME with the 'money is no object' attitude they build and build with little regard for true economics. My only fear is that the big developers who are also in the rental market will simply increase rents when there other investments don't perform. They want their money one way or another. Then, sooner or later, the whole house of cards comes tumbling down--and it will at some point.
If you can buy 0% down and keep your investments in your home country it might be a good deal--especially if the allowance covers the mortgage--but prices are too high for that to be realistic. At least from what I have seen.
A good example is the Financial Harbour in Bahrain. Apparantly the big banks don't want to move offices. The Kingdom threatened them with penalties to which the banks simply responded - then we'll pick up and move to Dubai (or anywhere else). Watch now for those building to be tenanted by government ministries!!!!