Damac Properties is one of Dubai's largest private developers. The company has been issuing three Golden Visas each to buyers of the Violet units at its phase-2 master development, Damac Hills 2. It has covered the cost of such long-term residency visas. And when Damac announced late last May that its Damac Violet 3, comprising 600 units worth Dh 1.2 billion, sold out within hours of its launch, it was a reflection of just how strong demand remains for such visas.
As Amira Sajwani, the Managing Director at Damac Properties , said, "Golden Visas have considerably influenced property investments in Dubai. Most investors are uninformed that they are entitled to this new advantage. We wanted to be pioneers by offering this as a token of appreciation to those who have invested with us."
The Golden Visa , therefore, grants residency for as long as ten years to investors and those qualifying for this status. Prerequisites for this grant include applicants' investments in local property or businesses at a minimum of Dh 2 million . According to Get Golden Visa, a company dealing in residency services, this has played a crucial role in attracting global talent and investments.
Samana Developers also offers multiple Golden Visas, handling the entire visa processing in-house, so buyers don’t need to visit government offices. Imran Farooq, CEO of Samana Developers, mentioned that their visa processing team manages all the paperwork, including for shared properties in cases like married couples.
Danish Shareef, Managing Director of Blanco Thornton Properties Dubai, quoted the sentiment, stating that developers are increasingly using Golden Visas as a marketing tool. Blanco Thornton Properties extends this offer to investors purchasing properties starting from Dh 2 million in various high-end projects across Dubai.
Anmol D Shroff, Founder and Chairman of Elton Real Estate Development, added that covering visa costs is becoming a common strategy among Dubai developers to enhance property deals, particularly for high-net-worth individuals seeking a long-term presence in the UAE. Elton Real Estate will offer premium properties ranging from Dh 1.40 million to Dh 3.20 million. Shroff emphasized the need for a balanced approach to ensure that this strategy continues to attract genuine investments without diluting the value of luxury properties .
“This strategy can attract buyers who value both the residency benefits and the quality of the properties, thus contributing to a dynamic market. It aligns with Dubai’s vision of becoming a global hub for business and tourism while also ensuring a steady influx of investment and talent,” Shroff concluded.
