Golden Card to give long-term stability to UAE's real estate sectors

Such inspirational initiatives will go a long way in creating sustainable communities.

  
Image used for illustrative purpose. A view of Sheikh Zayed Road showing some of Dubai's famous skyscrapers including the Emirates Towers. The highway also connects other new developments such as the Palm Jumeirah and Dubai Marina.

Image used for illustrative purpose. A view of Sheikh Zayed Road showing some of Dubai's famous skyscrapers including the Emirates Towers. The highway also connects other new developments such as the Palm Jumeirah and Dubai Marina.

Getty Images/Nick Brundle

The Golden Card will improve long-term investments in to property sector which will in turn give long-term stability to the UAE's real estate sectors, analysts and property developers said.

PNC Menon, founder and chairman of Sobha Realty, said: "Such inspirational initiatives will go a long way in creating sustainable communities, enhanced cultural and social identity and preparing capable and skillful human resources in the UAE."

"This is wonderful news for all the residents and this decision will bring so much more trust and confidence in investors who have invested huge money in the UAE. Additionally it will strengthen the personal loyalty of the expatriates to the UAE and encourage them to invest in their future," said Rizwan Sajan, founder and chairman Danube Group.

Shaher Mousli, chairman of Arthur Mackenzy Properties Group, stressed that the UAE was already ahead of the curve in terms of its viability and attractiveness as a business and investment destination.

"The announcement is a huge milestone for the property market. It will give further stability to the UAE by attracting more distinguished professionals to the country," said Lewis Allsopp, CEO of Allsopp & Allsopp.

 
 

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