Dubai’s real estate market has become a topic of significant interest in 2022. The year behind us was memorable in various ways for the ways that the emirate’s real estate market performed, but what are the factors that will influence the sector this year?
The economic growth in Dubai has been phenomenal in many ways. Over the past few years, the government has embarked on several initiatives and reforms aimed mainly at attracting more foreign direct investment into the city.
The government introduced the 10-year visa (also known as the golden visa) with the purpose of offering long-term residence for individuals and retain talented people in the country. In addition, reforms surrounding the ownership of companies in the emirate without the requirement of a local sponsor helped spur economic growth.
Also, the UAE’s decisive action in embracing a more global workweek from Monday to Friday helped propel the emirate’s position,…