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Thursday, June 1, 2023

Over 65,000 ‘potential real estate investors’ in Dubai

Walid Al Zarooni, real estate expert and CEO of Dubai-based real estate agency W Capital, believes that the real estate sector in Dubai is poised for a quick recovery as it has attracted more than 65,000 people who have been granted golden visas.

Dubai is poised to attract a significant share of the citizenship market through global investment, which is expected to grow five-fold to $100 billion by 2025, according to Global Research.

Al Zarooni said gold card holders are always potential investors in Dubai real estate and each of them may be planning to buy property for themselves and their families. This means that activity from multiple sectors such as education, consumer spending, and health can generate huge financial returns for the Gold Card.

Like other types of visas, the goal of the UAE Golden Residence Visa is to attract independent entrepreneurs and business talents, boost the local economy, support diversification and economic growth, and attract outstanding talents and talents to become permanent partners in the UAE, he said. The development process of the UAE. This vision will work to enhance the UAE’s status as a global innovation and talent incubator.

Comprehensive effect

Al Zarooni emphasized that the UAE’s Golden Visa and Retirement Permit play an integral role in attracting more investment into the Dubai real estate market as it provides a strong reason to invest in the country and offers its residents a This feeling has made the UAE a second home for many global innovators and influencers. Therefore, it is one of the important tributaries that feed the real estate industry.

“Dubai is keen to boost population growth through various measures and attract high-net-worth and highly-skilled investors, which will have a positive impact on the real estate sector in the medium term and boost demand for the luxury residential category,” said Al Zarooni. Dubai’s The goal is to increase its population to 5.8 million by 2040. Al Zarooni praised the UAE’s high demand for the Golden Residence Visa program and the recent expansion of the residency program to accept visa applicants from various fields such as entrepreneurship, science, healthcare and many others.

Al Zarooni believes that the length of the residence period will encourage real estate tenants who have obtained the golden residency to choose to purchase the property because, for example, when calculating the total rent value paid for renting a residential unit, whether it is an apartment or a villa, in Dubai for more than 10 years , is already close to the price of owning the unit itself, so it is better to buy the unit, and it is also a good investment that can be paid back at any time.

new facility

Investors can obtain golden residency after outright ownership of a property worth no less than 2 million dirhams ($540,000), and the golden residency can be obtained by purchasing a property with a loan, the CEO of W Capital said. A specific set of UAE banks. — trade arab news agency

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