Under the new regulations, investors only need to own property valued at 2 million dirhams (approximately $545,000) or above to qualify for a golden visa, eliminating the requirement to pay a minimum down payment of 1 million dirhams (approximately $272,000). Local real estate experts consider this decision as a game-changer, opening doors for a more diverse range of individuals to participate in the golden visa program and fostering a more inclusive and dynamic real estate landscape.
Soliman Hossameldin, Director of Digital Marketing at D&B Properties, stated that the removal of the minimum down payment requirement is a game-changer, opening doors for a more diverse range of individuals to participate in the golden visa program and nurturing a more inclusive and vibrant real estate landscape. Farooq Syed, CEO of Springfield Properties, welcomed the removal of the minimum down payment, seeing it as a key step in attracting foreign investment and promoting industry growth.
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Experts believe that the off-plan real estate sector may benefit the most from this policy change. Swapnil Pillai, Deputy Head of Research at First Abu Dhabi Bank's Middle East, stated that the government's removal of the minimum payment requirement will further incentivize potential buyers to invest in the off-plan market. Alina Adamco, Sales Manager at Metropolitan Homes, stated that these updated guidelines provide greater flexibility for investors seeking a golden visa and offer significant economic momentum.
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This policy change is expected to strengthen Dubai's real estate landscape and inject new vitality into the market. Madhav Dhar, COO and Founding Member of ZāZEN Properties, stated that this decision will enhance Dubai's real estate landscape, allowing existing and new investors to solidify Dubai as a second home or primary base, enhancing their investment opportunities while leveraging world-class infrastructure and global connectivity, injecting new vitality into the market. By facilitating easier access for investors and stimulating demand, the UAE has positioned itself as a global leader in fostering a resilient and competitive real estate industry.
This forward-thinking policy highlights the country's dedication to innovation and growth, with the expectation that this change will have profound and positive impacts on the real estate industry, paving the way for an era of opportunity and sustainable development. This initiative benefits not only international investors but also the overall development and prosperity of the UAE economy. Many experts are looking forward to the positive impact of this decision on the UAE's real estate industry and broader economy.
