What the new residency extensions mean for investment property
The recent proclamations for the extension of visas for certain professionals have created a joyous moment for investment property in the country. The decision to provide 10-year visas is seen as a wake-up call for the property market.
Demands for both residential and commercial properties are expected to see a momentous rise which can put an end to the aftereffects of oversupply and scanty affordable housing.
On the release of this move, shares in several property companies saw a tremendous rise indicating that Dubai’s property market may finally provide a solution to highly leveraged purchases and even property flipping which led to price fluctuations.
Trading of property stocks has risen with Emaar Properties and Damac Properties up 2.9 per cent and 4.8 per cent respectively. Abu Dhabi’s Aldar also closed at a rise of 1.4 per cent a day after the decision.
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Dubai International Finance Centre, also known as DIFC, provides a city within a city experience with a complete range of community-enhancing lifestyle activities and events. At the same time, DIFC continues its popularity as the financial hub in the Middle East. The area forms the commercial hub of the emirate where urbanites come together to set up home, make a living and socialise. It is centrally located with direct access to Dubai's main arterial highway, providing ease of travel to major hubs, world-class shopping malls, minutes away to the tallest tower in the world the amazing Burj Khalifa, pristine beaches are a short distance away too. DIFC is perfect for singles and young professionals, with a lifestyle of central and fashionable as it is a live-work-play community.

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Emaar Properties recently announced that a new real estate investment opportunity is up for grabs. The newly added Dubai Hills Estate has brought in a wide number of luxury and mid-range villas, apartments and townhouses and will soon have a mall as well. Dubai Hills Mall reportedly has completed 60% of its construction is scheduled to open soon enough. This 2M sq.m. the mall is set to be a great center for retail brands and will feature more than 650 outlets, restaurants, an 18-screen movie theatre along with an 18-hole championship golf course.
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