You must have heard a lot regarding Dubai as an IT, Creativity, Innovation hub encouraging investors and entrepreneurs to come forward and incorporate a business entity in the region. Well, the revenue generation or profit earning is not limited to specific corporate boundary. The region provides an open opportunity for foreign nationals to come forward and grab the chance of owning a piece of land in the City of Gold. Yes, you can buy a property in Dubai irrespective of the nationality you belong to. Wondering why to buy a property in Dubai? Well, this guide has got all your answers covered. Let’s proceed ahead.
Benefits of Buying a Property in Dubai
Specific benefits that you will be availing by buying a property in Dubai are stated below.
1.Constant Growing Economy
The UAE turns out to be a consistently growing economy aiming at attracting more investors worldwide. The government has been working tirelessly to establish Dubai as an international business ground, providing numerous benefits like Free Zones, Tax Exemption etc. In 2020, economic growth is projected to grow by 3.8%, which involves tourism, logistics, transport, wholesale and retail sectors. Each business needs a physical business, and if you have a property in Dubai, the feasible option is to build commercial buildings.
2.High Population-Demand for Property
The next benefit of obtaining a property in Dubai is that the region is recognized as an international expat hub, and is a multi-cultural. Ranging from job-seekers to business investors, everyone finds Dubai as a feasible location. The increasing number of populations will reflect an increase in the demand for residency. To increase the overall income, foreign expats end up building residential complex and rent it. This helps you to fill your pocket through an extra source.
3.A Ground for Innovation
Innovation is the key to business sustainability, and Dubai turns as an expert in this domain. The region encourages innovators to come forward and establish their business entities. In 2018, Dubai Internet City had opened its first phase of the innovation hub, blending creativity with tech, and aims to attract 50,000 talented IT Professionals.
4.High-Level of Safety and Security
When it comes to safety, Dubai has adopted all the possibilities to level-up the safety and security to be provided to the local and foreign residents. Being established as one of the stable cities in the MENA Region, it attracts a worldwide audience who feels comfortable enough to start a new life. Theft and robbery stand as an unheard word in Dubai, and if found, the region has got strict laws against it. This serves to be one of the beneficial factors that most of the investors look forward to grabbing property in Dubai.
5.Constant Appreciation of Property Value
Once bought, you never need to regret. The sale value of Dubai property prices gets appreciated every time. If acquired today, you can sell it at a much higher value in the future. This sounds good for real agent players who look forward to increasing their business and expand.
6.Plethora of Options
Dubai real estate sector offers both commercial and residential properties for property seekers to come forward and buy them according to their needs. Investors looking forward to going for commercial properties have a range of options like offices, labour camps, industrial properties etc. When it comes to residential properties, they can select either an apartment or a villa.
7.Ease Availability of Visa
Obtaining a visa is an easy process in Dubai. As stated earlier, investors look forward to setting up their business in Dubai, they need to obtain an investor visa. Once obtained, they also look forward to a residency visa, which becomes hassle-free is the required documents are presented to the Government Authorities of Dubai.
Moreover, once you into the real estate sector, it becomes way easier for you to gain a residency visa.
8.Government with Visionary Leadership
The Government of Dubai backed by Sheikh Hamdan bin Al Maktoum stands as an unmovable pillar who has continuously contributed to the development of the country. The government looks forward to creating Dubai as a happy-hub, and an international business, innovation and creativity hub. Holding a piece of property in Dubai holds enormous opportunities to generate more revenue and also increase the GDP of the nation to a great extent.
The whole world is looking for the World Expo 2020, which will be held in Dubai by Oct 2020. The expo will last for six months and is expected to fetch in 25 million visitors roping in Dh 122.6 Billion into the UAE’s economy. Many business partnerships will come into the picture, which will demand a physical space for their existence. This will have a drastic impact on the real estate industry, where the demand will exceed supply, and meeting the same turns out to be challenging.
10.Low Cost of Land Acquisition
As mentioned in the Khaleej Times in 2018, one of the premier news-centre in UAE region, Dubai land prices are lower as compared to the price existed in 2008. The average price per sqft is Dh 325, which was around Dh 700-800 in 2008. It shows a grabbing opportunity for investors who are looking forward to acquiring a piece of land in Dubai.
11.No Property Tax
This turns out to be an outstanding, attention-grabbing special benefit that Dubai holds in its arms for the property investors. As compared to other cities of the world, tax is completely exempted, and this provokes foreigners to grab a piece of land in the City of Gold.
The demand for Dubai property has constantly been increasing year after year. Holding property figures not only rental options but also secures the future. Investing in Dubai property turns out to be a feasible option for investors looking for real estate investment. The moment you initiate the process, it involves a vast documentation process, and dealing with it alone might turn out to be tedious and time-consuming. The smart option is to have a word with a legal consultant who can help you in obtaining the property in a hassle-free way.
Commitbiz Consultants are here to help you in obtaining a property in Dubai. Our business consultants take the utmost care in dealing with the legal proceedings and cater to your service accordingly, which makes us one of the best legal consultants in Dubai. To have a word, contact us today-we’d be glad to assist.