Dubai boasts of having a world-class infrastructure that has established itself as a major and influential player in terms of trade, tourism. The region has attracted major foreign investors in the world. Hence, if you are looking to expand a real estate business in Dubai, there are unlimited amount of potential and just keep building.
There is so much happening in the real sector in Dubai. The business is not only growing, it is screaming out to be explored in the years to come. There is a perennial race for skyscraper structures and here, Dubai is the front-runner. There is the world’s highest building Burj Khalifa, along with Marina 101 and the Princess Tower which is a great evidence of the growing real estate business in Dubai.
As per recent research, there has been an increase in rent moderation, supply, and changing demand for executive positions in the employment market. There are forecast that believe that they will continue and it play a massive impact the residential market during 2018.
And hence, a number of foreign residents have purchased residential flats in Dubai. Owing to all these facts, there are great opportunities for real estate entrepreneurs initiating a real estate business in Dubai.
For starters, businesses need to explore the location for setting up the real estate business. One needs to understand that businesses are required to be 51% owned by a United Arab Emirates (UAE) national. However, ownership can well be 100% if different areas are explored as there are number of different areas because there are few locations within the country which were called free zones.
As far these areas are concerned, regulations are lower and they attract more businesses. Apart from this, if there is a real estate business in free zones, it will help you with the corporate tax exemption for 50 years. And then there is no personal income tax, freedom from import duties, no currency restrictions and one can also avoid excessive regulations.
So, if you want to explore business opportunities in real estate, you need to have your own office which will be distinct in the market as it will help you win the trust of the customers. And then, you can also appropriate licenses from the UAE government and RERA which will help you to establish yourself as a trustworthy business owner.
The government has softened its stand as far as Covid-19 restrictions are concerned. They have positively impacted market sentiment across the real estate sector. Real estate portals Property Finder and Mortgage Finder also saw a spurt in consumer enquiries.
Dubai has seen a consistent growth during and after the pandemic. The world is limping back to normalcy, Dubai real estate market has become more dynamic and are far more adaptable to change. There are number of new trends that have emerged over the past year and hence, they will stay!