|10 July, 2019

Golden Card: UAE's permanent residency scheme for expats fuels investments

Sixty-eight percent of the UAE-expat investors said they plan to grow their investment portfolio by investing in property

Dubai city's skyline view.

Dubai city's skyline view.

Getty Images

 

DUBAI — A survey of UAE investors and residents showed that the recently implemented UAE Permanent Residency Scheme has created a positive sentiment in the investment community. A random survey of 1,012 respondents indicate that existing investors have more appetite to increase their portfolio, while would-be investors are now more open to start investing.

Seventy-nine percent of UAE investors say that with the launch of the permanent residency scheme (golden card), they will consider expanding their investments in the country, according to a survey conducted by Lootah Real Estate Development, the pioneering real estate development arm of Lootah Holding and one of the leading providers of state-of-the-art residential and commercial properties in the UAE.

Sixty-eight percent of the UAE-expat investors said they plan to grow their investment portfolio by investing in property, more specifically in properties located in Dubai. Property leads the investment class option (68 percent), followed by business (26 percent), and stocks (4 percent).

Of those who expressed interest on property investments, 79.7 percent said that they prefer investing in Dubai.

The optimism also extends to those who do not have investments yet. As per the survey, among the 819 respondents who are not yet investors, 29 percent said that they will consider investing in the UAE because of the permanent residency scheme. — SG




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