In Dubai, developers are offering and paying for multiple Golden Visas to investors and their families to attract high-net-worth individuals. Investors and end-users buying property worth Dh2 million or above are eligible for the 10-year residency programme in the UAE. Damac Properties, the largest private developer in Dubai, has been offering three Golden Visas to buyers of Violet units at the Damac Hills 2 project, covering the cost of the residency visas. The demand for Golden Visas remains strong among property buyers, as reflected in the quick sell-out of 600 units worth Dh1.2 billion in just a few hours after the launch.
Amira Sajwani, managing director at Damac Properties, stated that Golden Visas have become a significant reason why investors are buying property in Dubai. The UAE’s 10-year visa programme, through property investment or other avenues, has been popular among investors, providing long-term residency options for investors, entrepreneurs, and highly skilled professionals. Samana Developers also offer multiple Golden Visas to investors and facilitate the visa processing at their premises without the need for clients to visit government offices.
Danish Shareef, managing director of Blanco Thornton Properties Dubai, highlighted that real estate developers are offering and covering the costs of multiple Golden Visas for investors and their families, attracting high-net-worth individuals from around the world. Elton Real Estate Development’s founder and chairman, Anmoll D Shroff, mentioned that developers in Dubai frequently cover visa costs as a marketing tool to add significant value to property deals, particularly targeting high-net-worth individuals interested in establishing a long-term presence in the UAE.
Shroff stated that his company offers a range of premium properties priced between Dh1.40 million and Dh3.20 million, evaluating each client’s needs individually to design tailored solutions that align with their investment goals. The Golden Visa incentive is attractive to many investors, but a balanced approach is needed to maintain the value of luxury properties and encourage genuine investment. By carefully managing this strategy, Shroff believes it can effectively attract buyers who appreciate both the residency benefits and the quality of the property, contributing to a healthy and dynamic market aligned with Dubai’s vision of becoming a global hub for business and tourism.
