is experiencing a boost in foreign investment, thanks to the UAE’s Golden visa program.
Dubai’s recent visa reforms, which have caught the eye of foreign investors, especially those from India, have generated significant interest in making Dubai their preferred destination.
Dubai has become a highly sought-after investment destination globally, with the introduction of the 10-year residency program – Golden Visa – attracting a great deal of interest among foreign investors looking to purchase property in the emirate. Zoom Property Insights predicts that Dubai will capture a substantial portion of the burgeoning global citizenship-by-investment market, which is projected to expand fivefold to $100 billion by 2025. With the timely implementation of visa reforms, including the golden and silver visa programs, Dubai’s property sector is poised to attract significant investment.
The relaxation of investor visa regulations has further contributed to increased investment in Dubai, with investors from various countries – particularly India – leading the way. To encourage investment in Dubai’s property sector, several prominent real estate developers are now offering the Golden Visa to those who invest a minimum of Dh2 million.
Zoom Property Insights has reported that Indians are particularly interested in Dubai’s growing property market due to the Golden Visa, along with the emirate’s robust economy, infrastructure, expatriate-friendly policies, and safe environment.
According to Ata Shobeiry, CEO at Zoom Property, the benefits of the Golden Visa have acted as a catalyst in attracting foreign investment to Dubai. He stated, “The UAE Golden Visa comes with several advantages. It is a self-sponsored visa that enables property investors to move in and out of the region without any limitations. With relaxed regulations, more people will likely obtain this visa and invest in the Dubai property market.”
Since its launch in 2019, the UAE Golden Visa has been issued to over 65,000 individuals from various sectors, including entrepreneurship, science, and healthcare.
Indian nationals are the leading buyers of property.
The Dubai real estate sector is now recognized as the largest offshore investment market globally, with foreign wealth totaling $146 billion – twice the amount invested by foreigners in the London property market.
Indian nationals lead the list of top property buyers in Dubai, followed by UK, Italian, and Russian investors. According to Zoom Property Insights, investors from France, Canada, UAE, Pakistan, and Egypt have also made substantial investments in the Dubai property market.
“Dubai’s property market is already experiencing a steady influx of high net worth individuals (HNWIs) and multi-millionaires from various regions. As more investors enter the market, the impact will extend beyond the real estate sector, with tourism, business, and hospitality sectors benefiting the most,” said Shobeiry.
Key takeaways
• The UAE golden visa continues to capture the interest of foreign investors for investment in the property sector
• Dubai is expected to attract a major share of the global citizenship-by-investment market, which is expected to grow five times to $100 billion by 2025
• Recent changes to the investor’s visa regulations are also resulting in the influx of foreign investors
• The Dubai property market has now become the largest offshore investment market globally
• Indians lead the list of top property buyers in Dubai, followed by the UK, Italy, and Russian nationals
• Investors belonging to France, Canada, UAE, Pakistan, and Egypt have also made significant investments in Dubai’s real estate sector