UAE Golden Visa now directly from real estate developers
13 July 2022 – Arabian Business – www.arabianbusiness.com
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.