The Real Estate market of Dubai is currently flourishing as the investors from worldwide have invested billions in Dubai, the city of United Arab Emirates.
Citizen of Pakistan have also highlighted due to a hefty amount invested as 1.26 billion AED in Dubai just within the first five months of 2021.This investment from the nationals of Pakistan in Dubai directly converts to an amount of Rs. 52 billion.
In the first quarter of 2021, the Indian citizens have invested about 6 billion AED in Dubai real estate market, and Indians remained on the top to invest the highest amount, according to the data of Dubai Land Department.
However, UK citizens have also been recorded with a major figure of investment of around 2.9 billion AED and it is followed by the citizens of China and France as they invested 1.4 billion and 1.3 billion AED respectively.
As per the official reports, the citizens of Russia, Iran, Saudi Arabia and Canada have also invested during the initial months of the current year.
According to Mahmoud Al-Burai, the Senior Advisor to Dubai Land Department, “Tax-friendly laws along with the availability of immediate residency status through the real estate investments are one of the biggest reasons behind the surge in investment in the city.”
Al-Burai also stated that 1 million AED needs to be invested in real estate in order to obtain a residency visa in the UAE that is much affordable than investing about 0.5 million euros in the real estate market to obtain a residency visas in European countries.
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