{"id":39522,"date":"2022-02-24T17:16:18","date_gmt":"2022-02-24T13:16:18","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=39522"},"modified":"2022-02-25T10:53:38","modified_gmt":"2022-02-25T06:53:38","slug":"uae-golden-visa-the-future-of-business","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/uae-golden-visa-the-future-of-business\/","title":{"rendered":"UAE Golden Visa: The Future Of Business"},"content":{"rendered":"

After experiencing an oil and real-estate boom, Dubai is now recognized as the financial capital of the United Arab Emirates (UAE). It is one of the emerging countries, at the forefront as one of the new “lands of opportunities”, and in the present world, which is globalized and multicultural, Dubai is perfectly suited to succeed.<\/span><\/p>\n

As a result of its colossal achievements including the tallest building in the world, the largest man-made archipelago in the world among many other monumental achievements, Dubai is now seen as the most cosmopolitan city in the world with 90% of its residents being foreign<\/strong>.<\/span><\/p>\n

Dubai’s economy has expanded at a rapid pace, thanks to Expo2020<\/a>, and is expected to expand even faster in 2022.<\/span><\/p>\n

Transformation Into A Metropolis<\/span><\/span><\/strong><\/em><\/h3>\n

The favourable business environment created by one of the world’s fastest-growing economies combined with the government’s decades-long market-friendly policies has helped to establish Dubai as the business, finance, and commercial centre of the region.<\/span><\/p>\n

According to Dubai Chambers<\/a>, the economy is expected to see sustained economic growth of 4.2% in 2022, accelerating from last year’s 2.1% growth, based both on a positive outlook for tourism and retail activity in the coming years.<\/span><\/p>\n

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The non-oil real gross domestic product (GDP) is expected to increase by 3.9% in the next few years. This is being attributed to an increase in public spending, a strong economy, higher employment, and a better business climate due to Expo2020<\/a>.<\/span><\/p>\n

The costs related to doing business are relatively low in Dubai due to its strategic location<\/strong> and it serves as the biggest re-exporting hub in the Middle East. Dubai can also assist businesses seeking to set up and scale up operations in order to accelerate their growth.\u202f<\/span><\/p>\n

Dubai has created a business environment, which is uniquely suited for accelerating growth and success, attracting expertise and investment, and operating as an incubator for all kinds of economic activity.<\/span><\/p>\n

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The Gate Building – Dubai Financial Center District DIFC, United Arab Emirates<\/p><\/div>\n

Post-Pandemic Recovery<\/span><\/span><\/strong><\/em><\/h3>\n

There has been a significant surge in the real estate sector that has helped to confirm its position as a principal driver of growth for all sectors and economic activities in the emirate.<\/span><\/p>\n

At this point in time, both the value and the demand for properties are witnessing a remarkable upward trend in the property market<\/strong>. While there are other factors at play, the growth is mainly attributed to Expo2020<\/a>.<\/span><\/p>\n

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In Dubai, the value of property deals rose by more than double last year, breaking a 12-year record in terms of real estate transactions as the economy recovers from the effects of the pandemic.<\/span><\/p>\n

There were registered transactions worth Dhs 151.07 billion last year compared with Dhs 71.87 billion worth of transactions in 2020,<\/span>\u202f<\/span><\/b>making 2021 the best year for total transactions since 2013.<\/span><\/p>\n