Good reputation, the best quality of life, strong and stable economic growth, high rental income and easy salability of assets make the UAE, especially Dubai, the best place to invest in the real estate sector, according to the real estate industry executive and experts.
In addition to ongoing Expo 2020, Dubai and successful handling of the pandemic, the Emirate’s strong economy, stable currency and investor-friendly policies that have been implemented over the years are paying dividends and strengthening the confidence of foreign investors to have a long-term presence here.
Thierry Delvaux, CEO of JLL Middle East, Africa and Turkey, said the UAE’s economic indicators broadly suggest that economic growth gathered pace in 2021.
“The Expo has helped stimulate growth, with hotel occupancy and residential real estate prices climbing. We expect this to continue to positively impact the property market in 2022 as well,” he said.
Rizwan Sajan, chairman and founder of Danube Group, said Dubai has a number of advantages that attract foreign investors.
“Firstly, all investments are protected from any intervention. Secondly, it offers a business-friendly environment. Thirdly, the emirate offers unparalleled safety and quality of life. Fourthly, its world-class infrastructure and global connectivity are amazing because a businessman can travel to more than 200 cities across six continents non-stop from Dubai. Fifthly, Dubai’s property offers reasonably good returns on investments in key business sectors. And most importantly, it’s a tax haven with one of the economies with the least direct taxation. Therefore, Dubai is a magnet for foreign investors,” added Sajan.
Accordingly to the newly-launched “Best Investment Migration Real Estate Index 2022” by Henley and Partners and Deep Knowledge Analytics, the UAE tops followed by Spain, Montenegro, Turkey, Portugal, Thailand, Greece, Grenada, Cyprus, Dominica, St. Lucia, St. Kitts and Nevis, Antigua and Barbados, Malta, Jersey and Mauritius.
The index covers 12 key parameters including reputation, quality of life, GDP, minimum real estate investment amount required for investment migration programme, potential rental income, costs associated with property purchase, processing efficiency, holding period, residence requirements, restrictions on the usage or ownership of property, the liquidity of the asset and the state of the cryptocurrency regulations in the country. The index has been launched for those who are looking for secondary citizenship. Imran Farooq, CEO of Samana Developers, says there are multiple factors but the most attractive for sure is Dubai’s strongest position as a longstanding commercial hub in the Middle East as recent investor-friendly economic reforms are a magnet for the foreign investors.
Farooq stated that investor enquiries have doubled since the beginning of Expo 2020 Dubai and there has been a significant increase in the sale of the properties.
“Since the time the UAE has been ranked among the best places to live and work, I can see the bullish trend continuing and attracting more foreign investors who have longer-term planning to do business in Dubai and enjoy the luxury lifestyle here,” added Samana CEO.
Author: Khaleej Times