Because of new initiatives regarding visa regimes, such as the Golden Visa, residents of Dubai who have lived there for decades are purchasing an increasing number of properties and establishing the emirate as their home.
The largest private developer in Dubai is optimistic about the future of the local real estate market. Because of the emirate’s effective management of the coronavirus pandemic and a large number of genuine homebuyers and families who are choosing to settle in Dubai permanently.
In order to provide their families with security, Dubai residents who have lived here for 20 years without purchasing a home are being encouraged to do so by the Golden Visa and other new visa programs. Many of employees have worked for us for 10 to 15 years, but they have never purchased a home.
They are willing to invest in real estate. Because they want to provide their family with security under the new visa regime. Even if they lose, they will not have to leave if they have a Golden Visa, stated DAMAC managing director.
Due to the influx of foreign capital, high-net-worth individuals, and billionaires into the local market, Dubai’s real estate market has experienced a significant uptick in prices and rents across the affordable, mid-range, and high-end segments.
People came here and purchased numerous properties in Dubai. Because of the unpleasant circumstance between Russia and Ukraine. In order to have a second safe home for themselves and their families, she added.
About 7,000 units were delivered this year, and 8,000 units are expected to be delivered the following year. This year, it launched over 10,000 units that are currently in construction, and there will be a few more launches in the upcoming months. DAMAC has already shipped 40,000 units since it began.