The recently launched UAE PR Visa for 10 and 5 years can boost the Real Estate market according to the experts in the industry. They opine that this will encourage immigrants to make an investment in property and settle in the UAE.
The UAE PR Visa
was launched last week by the United
Arab Emirates to attract exceptional talents and wealthy individuals. This
initiative can attract a number of
professionals and businessman from India to the UAE.
The UAE Gold Card Visa was launched by Sheikh Mohammed bin Rashid Al-Maktoum the
Prime Minister of the United
Arab Emirates. It is open to extraordinary talents such as Artists, Students, Scientists, Engineers, and Doctors as well as
Investors.
Provis Executive Director Sameer Barakat said that the UAE PR Visa is a major initiative towards achieving
the sustainable development and economic diversification goals of the nation.
Provis is a Property Management and Real Estate firm in the UAE.
The measure will
position further UAE as an innovative location for business leaders, said
Barakat. It will offer millions of individuals
with excellent opportunities. This is in a productive, safe, and tolerant
environment, he added, as quoted by the Business Standard.
Dubai estate agents Allsopp & Allsopp CEO Lewis
Allsopp said that it is a big milestone for the
Dubai property market and the UAE. We have seen continual measures to boost the
property market in the past few years. These are also aimed at adding permanence to the UAE, said
Lewis. The UAE PR Visa for 10 and 5 years is a step ahead, he added.
Majority of the
immigrants aim to make money when they immigrate to Dubai and have a plan for
short-term. The Cabinet in UAE has decided to implement a Gold Card Visa for Permanent Residency, said Lewis. This will now
encourage immigrant to view Dubai as a home and not a temporary option, he
added.
Property Finder has also
released a stamen on the latest development. PR Visa is a good progressive
measure that will boost the property market fortunes, it said. Roughly 6,800 individuals have been offered PR
Visa and a Gold Card in the first round of applications, it informed.
Property Finder Director of Research and Data Lynnette
Abad said that this is a game-changer for the Dubai
Real Estate industry. The complete details of the Gold Card like the terms,
eligibility, etc are yet to be announced. Nevertheless, it is surely a step in the correct direction and
very much required, added Abad.
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