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International Property Investors Flock to UAE as Finance Giants Facilitate Cross-Border Payments

The UAE property market has received a major financing boost thanks to an innovative cross-border payment solution from Visa, Checkout.com, and MENA’s digital real estate platform Stake.

The companies have collaborated to introduce the first cross-border account funding service in the GCC. It allows consumers worldwide to seamlessly transfer funds into their Stake accounts for investing in prime UAE rental properties.

Leveraging Visa Direct’s cross-border account funding capabilities, the cutting-edge solution simplifies digital payments for real estate investments. It ensures fast, convenient transactions from anywhere globally, expanding investment opportunities in Dubai and the UAE.

“This partnership marks the inaugural implementation in the region of our cross-border account funding for real estate transactions,” said Visa’s VP and UAE Country Manager, Salima Gutieva. “With this innovative digital payment capability, investments in the UAE’s thriving real estate sector from anywhere in the world will now be easier, quicker, and more secure.”

The solution aligns with Checkout.com’s commitment to enhancing merchant acceptance rates while reducing costs and improving performance, said Remo Giovanni Abbondandolo, General Manager at Checkout.com MENA.

Stake co-founder and co-CEO Manar Mahmassani said the collaboration strengthens the company’s global reach while introducing a first-of-its-kind innovation in MENA. “This is a major step towards fulfilling our vision of making real estate truly borderless,” Mahmassani stated.

The real estate market is expanding amidst the UAE’s robust economic growth. ValuStrat said Q3 2023 saw the highest quarterly capital gains in a decade, with prime property valuations rising 16.5% year-on-year.

Villa valuations surpassed 2014 peaks by 2.6%, reflecting a substantial 19.8% annual and 7.6% quarterly increase. This demonstrates the surging demand for luxury properties in Dubai and the UAE.

The innovative payment solution provides international investors easy access to the UAE’s thriving property market by enabling seamless cross-border real estate investments.

The strategic partnership between Visa, Checkout.com and Stake promises to boost real estate transactions further, funneling foreign investment into the emirates’ most coveted communities.

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