Whether your client is an international sports champion or a Hollywood actor, as an investment advisor you may want to consider these points for their long term asset management. Even businessmen and top executives who travel all over the globe will need to keep these factors in mind about having an abode in one of the world’s busiest cities.
Anyone planning to buy a property in Dubai or already owning one have a lot to benefit from, in the long run. The city is young and still growing. From a brief oil-based economy to non-oil based economic activities including tourism, construction and real estate, the place screams of commerce. Although the residential property market has slackened due to over-supply, luxury villa market continues to attract investments from international buyers. However, the best reasons to own property in Dubai are as below:
1. Blockchain 2021
According to technology experts, there is a huge opportunity to use Blockchain to create smaller units of real estate assets where an investor can purchase parts of a property rather than the entire property. These parts can be traded online in seconds, making UAE real estate far more accessible and attractive to investors from all over the world. Smart Dubai is already on top of its game with Blockchain Strategy 2021 to make this a reality. Azizi Developments with properties in Al Furjan, Dubai Health Care City, Jebel Ali, Meydan, Palm Jumeirah, Sports City & Studio City is one of the leading developers to back this initiative.
2. Best in class lifestyle
Already considered on par with leading cosmopolitan cities in the world from an infrastructure point of view, Dubai has exceeded expectations when it comes to luxury lifestyle. One of the world’s most expensive hotels and rated as the only 7 star hotel, Burj Al Arab sits pretty near Dubai’s coastline.
According to Mercer's Annual cost of Living Survey- 2018, Dubai sits at 26th ranking for expats, improving from 19th previously. This means affordability of goods is also improving by leaps and bounds. Luxury and affordability are a lethal combination to beat, isn’t it?
From Dubai, one can fly to most countries within 2- 7 hours. Dubai flagship carrier Emirates, recently voted the best airline in the world for business travel and Long-haul holidays,by Conde Nast Traveller, operates to 150 destinations in 80 countries across six continents from its hub in Dubai.
This just proves that Dubai airport is one of the busiest transit stops for worldwide travelers. Asia to Americas, Europe to Africa and Australia the globetrotters move through Dubai, most times even stopping over for a tourist experience.
4. Inflow of visitors
According to Euromonitor survey of 600 cities in the World, Dubai’s international arrivals increased by 6.2 per cent to nearly 17 million, and it’s the only city in the Middle East and Africa that showed up in the top ten most visited globally. It received the 7th highest inflow of tourists, more than even New York
According to Mastercard, Dubai topped the list of global cities with the highest international overnight visitor spend for the third year in a row, with total international visitor spending of $29.70 billion in 2017.
Also, Dubai is expecting close to 25 million visitors with 190 countries having confirmed their participation in Expo 2020 - to be held in October of 2020. Occupancy of homes and property investments are predicted to rise high during the time.
5. Beating the winter blues
November to February is one of the best months to visit for beating the winter blues in US, Canada, and Europe. Dubai has an annual sunshine hours exceeding 3,500. Vacationers and retired professionals from very cold cities enjoy the winter in Dubai.
Renting seaside homes and villas in leading neighborhoods or owning a second home overseas is the common upside to the weather in Dubai.
6. Retirement Visa
Starting from 2019, the UAE government has eased the concerns of expats by passing a law that will allow for a five-year renewable visa provided to expatriate pensioners over the age of 55.
In order to apply, the retiree must either own a real estate investment worth Dhs2m ($544,510), have financial savings of more than Dhs1m ($272,255) or proof of income of more than Dhs20,000 ($5,445) a month. This provides security for those nearing retirement age and encourages them to stay put and enjoy comfortable lifestyle.
7. Shopping Mecca
Dubai has umpteen places for shopping and chief among them are:
Added to that, the Dubai Shopping Festival (DSF), which is a month long event every January, showcases concerts, events, fashion shows and outdoor sports.
Another annual event is the Dubai Summer Surprises (DSS), which runs for a month at the beginning of summer in Dubai. It is quite popular for its shopping deals and fun activities designed for the whole family.