Dubai Land Department (DLD), in coordination and cooperation with the General Directorate of Residency and Foreigners Affairs (GDRFA), granted golden visas to 20 investors belonging to 12 nationalities, whose value of direct real estate investments exceeded AED 200 million. This came during a ceremony held at DLD in the presence of HE Major General Mohammed Al Marri, Director General of GDRFA Dubai; HE Sultan Butti bin Mejren, Director General of DLD; and a number of CEOs and senior directors from the public and private sectors.
During the ceremony, the five-year golden visas were given to real estate investors whose individual investments in the local real estate market exceed AED 5 million and are registered at DLD. This privilege also benefits their family members — wives and children. The conditions for obtaining the golden visa without a sponsor includes investing in one or more existing properties that satisfy the total value condition, regardless of whether the property is owned by an individual or a group of investors. The list of countries the investors belong to includes Tunisia, the USA, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts and Nevis.
Bin Mejren said: “We would like to thank GDRFA for cooperating with us in this project that will greatly benefit Dubai and the UAE, consolidating the Emirate’s position at the forefront of destinations capable of attracting capital and foreign direct investment, in line with the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The integration and cooperation between the government sectors through this project contributes to the happiness of citizens, residents, and visitors, and highlights the readiness of our institutions to formulate innovative solutions. This helps us shed light on our role as a government entity that contributes to Dubai’s sustainable development and solidifies the UAE’s position on the global economic map.”