UAE-based real estate developers are looking to make the most of the Golden Visa scheme by offering attractive Golden Visa benefits to eligible customers, including shouldering the cost of obtaining a UAE Golden Visa
The Dubai real estate market recorded AED 22.7 billion sales in June – highest sales figures in the last 13 years – and reaching almost 71 percent of the total 2021 sales volume, Dubai Land Development (DLD) data revealed, and UAE real estate developers are looking to take advantage of the Golden Visa scheme as property demand grows.
Those purchasing property off-plan or with a mortgage now have the option to obtain 10-year residency in the UAE through a Golden Visa as part of the country’s plan to attract further investments and boost the benefits for long-term residents.
The flexible regulations to obtain the 10-year residency through real estate will encourage further foreign investments in the country, industry stakeholders have previously told Arabian Business.
The Golden Visa regulations are a “game-changer” for the UAE’s real estate industry, building on the momentum it’s garnered over the past year and a half.
“The fact that you can get a Golden Visa now when purchasing a secondary or off-plan property for AED2million which can be mortgaged pretty much covers all common scenarios for not only investors but also for UAE residents who own property,” said Lynnette Sacchetto, a UAE-based real estate industry consultant.
How updated Golden Visa regulations are spurring demand for Dubai’s real estate
Recent updates to the UAE’s Golden Visa regulations have a positive impact on many sectors, including Dubai’s real estate said, Madhav Dhar, Co-founder and COO, ZāZEN Properties.
Dhar credits the recent updates to the ten-year residency, along with the successful coronavirus response that the UAE exhibited, for the significant recent boom in Dubai’s property market.
In an exclusive interview with Arabian Business, Dhar also discusses the importance of sustainable real estate, especially in light of the UAE hosting COP28 in 2023.
