Dubai is setting itself to be the leading real estate market in the world today. With the UAE Government spearheading different initiatives, Dubai is striving to boost its real estate industry. Among the many actions taken by the UAE government is the proposal to give investors more benefits and privileges as they buy more Dubai properties.
Part of the proposal of attracting more investors into Dubai’s real estate is the multi-year visas. In this initiative, investors who have purchased a property worth at least Dh 5 million could be eligible for 5-year visas. This would easily increase to a 10-year visa for investors who have bought a property worth Dh10 million.
It is worth noting that the multi-year visas are not only available for real estate investors who are looking to buy homes, villas, or apartments for sale in Dubai, but also for certain qualified entrepreneurs and professionals.
Experts believe that awarding multi-year visas to realty investors allow them to stay in the UAE for a longer period of time. Not only that, but with visas with long expiration, investors could better take care of their properties, manage them, and grow their investment further.
Dubai is planning to offer specific privileges to global institutional investors. As of now, these privileges are yet to be finalized and are expected to be determined in the coming months.
According to authorities, privileges are not simply offered to anyone who invests in Dubai. They aim to work with potential investors who want to start special projects in Dubai and in the process, they would be entitled to “special” privileges as well.
Over the years, Dubai has been pushing for a more aggressive marketing campaign to target major global investors. Dubai has taken further steps to increase investors’ awareness of what the country has to offer. This is in addition to already existing overseas property shows and developers’ campaigns.
The multi-year visas are expected to stimulate the growth of the real estate industry of Dubai. Expats would be encouraged to finally purchase a property in Dubai since they will be staying in the country longer. On the other hand, foreign investors would be drawn towards the lease market as they get more time with their visas.
Since multi-year visas would also be offered to qualified scientists, students, innovators, and specialists, it would help stimulate more activity in Dubai’s economy & real estate industry in particular.
To further crystalize Dubai’s offer to investors, another law has also been proposed to enable foreign investors to gain 100% ownership of their companies. This would improve the acquisition of a commercial property for sale for an individual in the country.
Dubai is gearing towards global dominance in the real estate industry. This is an exciting time to start considering Dubai as your next investment destination.
If you want to know more how you can start buying Dubai properties and invest in its robust real estate industry, Rocky Real Estate is here for you. With decades of experience, we have been proven and tested by thousands of local and foreign investors. Give us a call today and discover how you can be successful in your next investment!