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Whether it’s visa reforms, legislative initiatives, or safety and quality of life, Dubai has always attracted a large number of investors and expats who like to live and work there, thereby steadily driving the demand for commercial and residential real estate.
City of the future
Dubai is famous for many reasons. It is multi-cultural, and the future can be expected,
Advanced technology and infrastructure, put the comfort and happiness of residents first, promote growth and investment through pro-business policies, and create a better world and future by focusing on sustainable development, clean energy and various other environments Initiatives.
All these aspects regard Dubai as a good place to work and live, attracting investors in commercial and residential real estate. The city’s way of handling the Covid-19 pandemic (reducing lockdowns and strict preventive measures) and conducting vaccination campaigns has also boosted interest in real estate, believing that it is one of the safest activities-also for women- Cities in the world.
A large number of incentives and initiatives have also been instilled to attract foreigners to the UAE, which has increased interest in the commercial and residential real estate industry.
In addition to first-class infrastructure and a coveted lifestyle that meets international standards, Dubai also has some of the most luxurious properties in prime locations and some of the best international schools-all of which encourage foreigners to move here with their families . Whether as a second home, commercial real estate or as a financial asset, Dubai’s real estate industry has shown positive growth.
Why Dubai?
There are many reasons why expats are attracted to live, work and invest in Dubai-from long-term visas and free zones to 100% ownership of foreign companies and negligible tax rates. In terms of visas, the most notable ones are the golden visas for entrepreneurs, investors, professionals, students, and other talents in all walks of life, with a term of 5 and 10 years, as well as short-term and freelance visas. . Attract foreigners to live and work here, thereby promoting the development of the real estate industry. There are also retirement residence visas and Dubai retirement plans, which are applicable to high-net-worth retirees who invest a certain amount in the local real estate industry, and other criteria. The city also recently introduced a five-year multiple-entry visa for foreign employees working in companies in Dubai to allow them to travel to and from the emirate to conduct business.
In 2019, a co-ownership law and five-year visa were introduced for those who invest a certain amount of money in the city’s real estate. The remote work visa and Dubai’s virtual work plan are other initiatives that allow individuals to work remotely in the UAE while taking advantage of all the benefits and services provided in the country.
Then there is 100% ownership of foreign companies, allowing foreigners to set up companies in the UAE and fully own them (without major UAE shareholders). As we all know, the UAE has also established free zones by reducing registration fees, financing and extending visas to attract foreign companies to set up bases here. The UAE currently has approximately 45 free zones, providing international companies with 100% foreign ownership and exemption of taxes and other fees.
Dubai 2040 City Master Plan is another plan that aims to develop a sustainable urban development plan to improve the quality of life and well-being. This is due to the launch of the Dubai RE-Tech platform, which aims to strengthen the industry and make it one of the best in the world.
On the rise
All of these structural, regulatory and legislative measures have affected and strengthened the desire of individuals and companies to establish a base here. According to reports, there were 5,762 transactions valued at AED 16.2 billion in September this year, the highest level this month in the past eight years. In the first nine months of 2021, Dubai recorded approximately 43,299 real estate sales transactions valued at AED 104.3 billion.
Although the pandemic has affected most industries in the world, the real estate industry in Dubai is still seeing encouraging numbers. This is why real estate continues to be a key tool for Dubai’s economic growth. Its geographic location and distance from other countries also make it a popular choice, especially among Indians.
Disclaimer: Content produced by Dubai companies
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