How Dubai Decreased Crime Reports by 62% in 2022

In 2022, Dubai reported a 62% decrease in criminal reports—a remarkable feat for any city. It’s one that other cities are eager to learn from and replicate, so let’s take a closer look at the four key aspects that contributed to this significant decrease in crime.

Training and Development – In 2022, Dubai police and security forces introduced an initiative to improve their services. The program equipped officers with new equipment and resources that allowed them to reduce crime and respond more quickly to criminal activity. The initiative also provided officers with additional training workshops and courses from the department of training and development.

Crime Reduction – Dubai has remarked over the past few years that crime is a top priority for the city. In 2022, for example, Dubai’s police force increased its presence to decrease crime reports by 62%. The first aspect involved an increased focus on crime prevention. This included increased law enforcement presence, increased surveillance cameras, and targeted campaigns to raise awareness about criminal activity.

Tourist Police – One of the main initiatives of our Tourist Police Department was to deliver over 50 awareness lectures for more than 4,000 beneficiaries from the tourism industry. The initiative was responsible for decreasing crime reports by 62% and these results have helped secure Dubai’s reputation as one of the most secure cities in the world.

Lost and Found – The Lost and Found Department supports a culture of honesty, with 14 honest individuals returning items they had found. The department returned found items to 745 people, which only further reinforces the values of trust and honesty.

Dubai has succeeded in reducing crime by 62% as a result of carefully planned crime reduction strategies. By focusing on crime prevention, providing better training opportunities for officers, introducing dedicated tourist police units, and setting up a centralized lost & found system, Dubai has become one of the safest places in the world to live.

Minimum Income to Buy A Property in Dubai

Introducing

Dubai is one of the most lucrative cities in the world for real estate investments, but how much salary do you need to purchase an apartment or villa? Many people are interested in buying a property here and one of the key questions is how much salary is needed to purchase a residential unit in Dubai. This article will help you calculate the minimum income you will need to become an owner of an apartment or villa in the most popular and in-demand areas in Dubai.

Why Invest in Dubai Property?

Dubai is a popular destination, and considered one of the safest cities in the world. It’s ranked #3 for female travellers, according to a study conducted by InsureMyTrip. And according to The Bucket List Company, Dubai is ranked fourth in the top most Instagram able travel destinations in the world!

Dubai has a wide range of job and business opportunities that attract outstanding graduates, talented people and professionals from all over the world. The emirate is also known for its warm climate, crystal waters of the Arabian Gulf and its successful combat of Covid-19 which included a mass testing strategy and a nationwide vaccination campaign.

Good Reputation Real Estate agents will help you to get a mortgage in Dubai. We work with major banks, including RAK Bank, Commercial Bank Dubai and Dubai Islamic Bank. Our specialists will gather all the necessary documents, put together your credit history, verify your income and help you to get a mortgage.

What Type of Salary Is Needed to Purchase Property in Dubai?

Aside from the down payment, keep in mind that you will need to pay the following upfront costs:

• Dubai Land Department Fee, which is 4% of the property value
• DLD Admin Fee, which is AED 4K (USD 1.1K) + 5% VAT
• Title Deed Insurance Fee which is AED 520 (USD 140)
• Mortgage Registration Fee, which costs 0.25% of its value
• Mortgage Registration Admin Fee with a cost of AED 290 (USD 80)
• Agency Fee, which is 2% of the sale price + 5% VAT
• Life insurance, which is compulsory while taking a mortgage
• Additional charges by the bank for mortgage processing and more.

Minimum Salary to Take Out A Loan

The minimum income that is required for taking out a loan depends on the property you are going to choose. The majority of banks would prefer an applicant to have a minimum salary of AED 15K (USD 4K) per month. However, some banks approve those with a salary of AED 10K (USD 2.7K) per month. This can vary from bank to bank and location to location, so it’s important to check with your preferred mortgage broker as they will be able to provide advice specific to your circumstances and requirements

Minimum Income to Buy Affordable Apartments in Dubai

Among the most budget friendly locations across Dubai are areas such as Jumeirah Village Circle, Jumeirah Lake Towers and Dubai Silicon Oasis

Jumeirah Village Circle:
Average price for a 1-bedroom apartment – AED 665K (USD 181K);

• Down payment (20%) – AED 133K (USD 36K)
• EMI – AED 1.8K (USD 500)
• Minimum monthly salary – AED 10K (USD 2.7K)

Jumeirah Lake Towers:

• Average price for a 1-bedroom apartment – AED 808K (USD 220K)
• Down payment (20%) – AED 161K (USD 44K).
• EMI – AED 2.2K (USD 607).
• Minimum monthly salary – AED 10K (USD 2.7K).

Dubai Silicon Oasis:

• Average price for a 1-bedroom apartment – AED 468K (USD 127K)
• Down payment (20%) – AED 94K (USD 26K)
• EMI – AED 1.3K (USD 350)
• Minimum monthly salary – AED 10K (USD 2.7K)

The average price of a 1-bedroom unit in Jumeirah Village Circle is AED 665K (USD 181K), and this area is quite popular among citizens and expats, wishing to live away from the hustle and bustle of Downtown Dubai. A salary of AED 10K (USD 2.7K) per month will be enough to become an owner of an apartment in these areas. However, keep in mind that it might be difficult to get a mortgage with such income

Minimum Income to Purchase Luxury Apartments

Dubai is home to some of the world’s most luxurious residential areas and residential developments. The emirate attracts buyers who wish to own a property in one of these upscale parts of Dubai, such as Downtown Dubai, Business Bay and Dubai Marina.

Downtown Dubai:

• Average price for a 1-bedroom apartment – AED 1.54M (USD 419K)
• Down payment (20%) – AED 308K (USD 84K).
• EMI – AED 4.3K (USD 1,2K).
• Minimum monthly salary – AED 18K (USD 5K).

Business Bay:

• Average price for a 1-bedroom apartment – AED 468K (USD 127K)
• Down payment (20%) – AED 209K (USD 57K)
• EMI – AED 2.9K (USD 785)
• Minimum monthly salary – AED 12K (USD 3.3K)

Dubai Marina:

• Average price for a 1-bedroom apartment – AED 1.21M (USD 329K).
• Down payment (20%) – AED 242K (USD 66K).
• EMI – AED 3.3K (USD 910).
• Minimum monthly salary – AED 15K (USD 4K).Downtown Dubai is a desirable destination among those wishing to live within close proximity to The Dubai Mall, the Burj Khalifa and other landmarks in the emirate. However, to obtain a loan for properties in these types of areas, your salary should be at least AED 18K (USD 5K) per month. Units in Business Bay, which is the business hub of Dubai, as well as Dubai Marina, which is popular among tourists and expats due to its huge range of entertainment activities in the surroundings such as The Walk, The Beach, Ain Dubai and Dubai Marina Mall, are a bit more affordable.

  Minimum Income to Purchase Luxury Apartments

  If you have a big family, or are looking for a spacious property in Dubai, then you might be interested in purchasing a villa. The more affordable villas can be found in areas such as DAMAC Hills 2, Dubailand and Jumeirah Village Circle.

  DAMAC Hills 2:

  • Average price for a 3-bedroom villa – AED 1.08M (USD 294K)
  • Down payment (20%) – AED 216K (USD 59K)
  • EMI – AED 3K (USD 817)
  • Minimum monthly salary – AED 12K (USD 3.3K)

   

Dubailand:

• Average price for a 3-bedroom villa – AED 1.77M (USD 482K)
• Down payment (20%) – AED 354K (USD 96K)
• EMI – AED 4.9K (USD 1,3K)
• Minimum monthly salary – AED 20K (USD 5.4K) 

Jumeirah Village Circle:

• Average price for a 3-bedroom villa – AED 2M (USD 545K)
• Down payment (20%) – AED 401K (USD 109K)
• EMI – AED 5.5K (USD 1.5K)
• Minimum monthly salary – AED 23K (USD 6.3K)A 3-bedroom villa is the perfect option for families with children, or couples wishing to experience a tranquil lifestyle. The most affordable villas can be found in DAMAC Hills 2, which is a developing community where you will get access to Malibu Beach, sports facilities including tennis and basketball courts, jogging and cycling tracks, as well as many restaurants and supermarkets nearby.

Minimum Income to Buy Premium Villas

The Dubai real estate market is booming, especially in the residential sector. If you want to experience an ultra-luxurious lifestyle in a spacious residential unit, you should keep an eye on the following areas – Palm Jumeirah, Arabian Ranches and Dubai Hills Estate.

Dubai Hills Estate:

• Average price for a 4-bedroom villa – AED 4.5M (USD 1.2M)
• Down payment (20%) – AED 903K (USD 246K)
• EMI – AED 12.5K (USD 3.4K)
• Minimum monthly salary – AED 50K (USD 13.6K)

Arabian Ranches:

• Average price for a 4-bedroom villa – AED 4.6M (USD 1.3M)
• Down payment (20%) – AED 924K (USD 252K)
• EMI – AED AED 12.8K (USD 3.5K)
• Minimum monthly salary – AED 52K (USD 14.2K)

Palm Jumeirah:

• Average price for a 4-bedroom villa – AED 15.6M (USD 4.2M)
• Down payment (20%) – AED 3.1M (USD 844K)
• EMI – AED AED 43K (USD 11.7K)
• Minimum monthly salary – AED 172K (USD 47K)

When you talk about the most expensive places to live in Dubai, Palm Jumeirah is always at the top of the list. The popularity of this place among locals and foreigners aspiring to live within close proximity to the waterfront is due to it being home to some of the best shopping malls and tourist attractions in Dubai like The Lost Chambers Aquarium, Aquaventure Waterpark and Nakheel Mall. Your salary should be around AED 172K (USD 47K) per month if you want to keep up with mortgage repayments.

How Can We Help?

Our Good Reputation Real Estate professionals are always ready to provide you with the latest information concerning the real estate market in Dubai. We can assist you in choosing a property, corresponding to your budget and needs, as well as prepare all the necessary documents and lead you until the end of transaction.

The Best Banks in Dubai 2023

The banking sector in Dubai is one of the most advanced and efficient in the world. Customers have access to a wide range of products and services, including mortgages and remittances, as well as Islamic banking options.

Choosing the best bank for you can be tough and confusing. That’s why we have compiled a list of the top banks currently operating in Dubai. Check out our list below for information on all the advantages and disadvantages of each bank, as well as reviews from customers and professionals.

Emirates NBD

Established in 1963, Emirates NBD has grown to become one of the largest banks in the Middle East with over 600 branches across seven countries. They offer a comprehensive range of banking services including consumer and corporate banking, investment banking, wealth management products and services as well as cards and payments solutions. Emirates NBD also has strong customer service that includes 24/7 online customer care support.

Mashreq Bank

Mashreq Bank is one of the best banks in Dubai. Founded in 1967 and headquartered in Dubai, UAE, it’s a major financial institution with over 180 branches spread across 5 countries that includes India, Pakistan, Bahrain, Kuwait and Jordan. Mashreq Bank provides a wide range of products and services including retail banking, private banking, Islamic banking and corporate banking solutions. Its expertise extends to providing specialized financing services like auto finance loans, housing finance loans and SME banking solutions among others.

Abu Dhabi Commercial Bank

ADCB was established in 1985 and offers retail banking solutions such as current accounts, credit cards, personal loans, and mortgages as well as corporate banking solutions like working capital lending facilities for SMEs or business accounts for large corporations across various sectors such as trade finance or corporate loans for real estate investments or leasing companies etc. ADCB also offers investment banking facilities such as asset management or portfolio advisory services along with insurance related products such as home contents insurance or motor vehicle insurance etc. With more than 200 branches throughout the region offering an extensive array of digital capabilities alongside their physical locations.

Commercial Bank International

Our fourth best bank in Dubai is Commercial Bank International (CBI). This leading bank was established by a handful of local businessmen who wanted to provide modern-day financial services focused on meeting discerning customers’ needs at every stage of their lives. CBI offers a comprehensive range of products and services such as checking accounts, debit cards and credit cards along with premier wealth management solutions that include customized portfolios tailored according to each client’s individual financial goals.

Al Hilal Bank

Al Hilal Bank is a full-fledged Sharia complaint Islamic bank that offers a wide range of personal and business banking solutions across a variety of product categories such as deposit accounts, consumer finance, home financing propositions and asset management services.

The Best Banks in Dubai list has been created to provide information on the best banks in Dubai and their offerings and services, which will assist you in selecting the best bank for your personal or business banking needs.

 

Fun Activities for Young Children in Dubai 2023

When visiting Dubai, there is no shortage of fun activities for kids! From thrilling theme parks, exciting waterparks and beautiful beaches – the city offers a plethora of fun things to do with children. Whether you are looking for action-packed adventure or laid-back relaxation, Dubai can cater to all. Here are some of the best things to do with young children in Dubai:

1. Visit Theme Parks:

Take your young kids to one of Dubai’s theme parks for a memorable adventure. From Nickelodeon Universe Park at IMG Worlds of Adventure to LEGOLAND Dubai, there’s a variety of options. Or visit Motiongate Dubai featuring Hollywood movie-inspired attractions and Bollywood Parks Dubai that showcases world’s first park dedicated to India’s famous film industry. Your kids are sure to love these thrilling rides and mesmerising shows!

2. Explore Waterparks:

If you want to create wonderful memories together, Dubai is the perfect place for you. With its scorching desert heat and cool waterparks, you can discover the best of both worlds here. Take your kids to visit any of the many waterparks in Dubai such as Aquaventure Waterpark at Atlantis The Palm, Wild Wadi Waterpark, Laguna Waterpark or Splash N Party at City Centre Mirdif. You’ll be sure to create wonderful memories together!

3. Go On A Desert Safari:

Desert safaris are one of the most popular activities to do in Dubai because they give you a chance to fully explore the desert. The scenery is beautiful, but it’ll be even more exciting when you get on a camel and ride through the dunes! This tour will take you through the rugged terrain and show you some wildlife including falcons – all while giving your children an unforgettable experience in Dubai.

Desert safaris are one of the most popular activities to do in Dubai because they give you a chance to fully explore the desert. The scenery is beautiful, but it’ll be even more exciting when you get on a camel and ride through the dunes! This tour will take you through the rugged terrain and show you some wildlife including falcons – all while giving your children an unforgettable experience in Dubai.

4. Visit Beaches:

If the kids have been begging to play in the sand, there are plenty of great beaches to go to. Head over to JBR Beach or Kite Beach where your kids can play in warm waters while building sandcastles on white sands! Don’t forget to keep them safe with sun hats and sunscreen lotion before taking a dip in the sea or playing beach sports like volleyball or paddleboats together.

5. Engage In Cultural Experiences:

Culture shock can be an amazing thing for children when travelling overseas but don’t worry – there are many kid-friendly cultural experiences offered in the city which will make it easy for them to learn about tradition and heritage. A trip to a museum or a visit to Dubai’s famous Gold Souk and older neighbourhoods, enjoying Arabic coffee and pastries, visiting one of the child-friendly theatres & museums, learning about life in Dubai at the Dubai Museum or Mohammed Bin Rashid Library; these are just some of things that will keep little minds occupied while parents enjoy their holiday!

6. Catch A Show At The Theatre Or Cinema:

If you’re looking for fun activities for young children in Dubai, try taking them to a movie at Madinat Theatre or Reel Cinemas which feature captivating West End musicals as well as latest films on big screens respectively. Perfect way to spend quality time with family!

7. Play At Playgrounds & Activity Centres :

For younger kids who still need supervision while exploring their environment – head over to an indoor playground or activity centre like Kidzania or Magic Planet where they can engage in plenty of exciting activities such as climbing walls or trampoline jumping while supervised by professionals giving you time off from running after them constantly.

The top 20 reasons to move to Dubai – 2022

The city is built on sand, with its magnificent sand dunes, clear blue beaches and visionary skyscrapers. It is one of the globe’s most connected cities, home to a diverse population. Here are our top 20 reasons to move to Dubai…

Gateway to the West and the East

Dubai is the city of opportunities, with a healthy infrastructure and the best place in the world to live. Year after year, Dubai is growing into a global hub for business and tourism. There are plenty of job opportunities here, it’s easy to start your own business, it is safe and clean, we have great beaches, amazing weather all year around, and many more reasons.

Low crime rate

Dubai has developed into one of the most modern and technologically advanced cities in the world. It is well known for its economic productivity, high personal income, good health care and quality education system. Dubai has become a magnet to skilled professionals from all over the world due to the abundance of opportunities available in this city-state. The emirate is consistently ranked among top 5 richest countries in the world based on per capita income and also has one of the highest levels of living standards in Asia.

Dubai’s lifestyle:

There are plenty of ways to enjoy Dubai’s exciting nightlife, from hip and trendy bars, to Arabian-themed parties, or traditional dance performances. When it’s time to recharge your batteries, Dubai’s health spas offer the ultimate in relaxation and healing.

Tax-free income

If you are someone who comes from a place where taxes can be extremely high, then Dubai will be the dream destination for you. The emirate offers tax-free living for everyone. Whether you are employed in any organization or running your own business in this city, you will not pay any taxes on your income. The tax-free salaries in Dubai make it one of the best places to build one’s future.

A sunny paradise

The desert city of Dubai is a year-round playground, with outdoor activities and indoor play spaces to suit every taste. With around 342 sunny days every year, Dubai is ideal for sun-lovers. The city’s average temperature hardly drops, and the comfortable, breezier weather from September to May allows residents to enjoy the beautifully landscaped outdoors. The summer months give a tough time to residents and visitors as the temperature rises to over 40 Celcius; however, you will find everywhere in Dubai is well air-conditioned. So whether you enjoy the hot weather or prefer to relax indoors, you can have fun all year round as there are plenty of things to do indoors and out, which brings you another appealing reason to move to Dubai.

A stable economy

Dubai’s economy is thriving, and the UAE Dirham is holding strong against the Euro and USD. With other perks, like an incredible expat workforce, entrepreneurs are generous when offering the best compensation packages for their employees.

Amazing shopping malls in Dubai

Whether you are in the mood for retail therapy, an exotic night out or looking to indulge in exquisite cuisine, there is something for everyone in Dubai. Home to the largest shopping mall in the world and luxurious restaurants, this city is a shopping haven for everyone with its countless high-end shopping malls and traditional souks of Dubai where buyers can purchase almost everything at a much more affordable rate.

Low cost of petrol

The cost of petrol has increased in Dubai but it’s still significantly lower than in other cities and countries around the world, so feel free to take advantage of that. You can easily rent or buy a car without much difficulty and at a cheaper cost than anywhere else in the world.

Booming real estate market

Real estate in Dubai is booming, with property developers and investors taking advantage of the lucrative market. As a result, there are new real estate developments launching regularly and new neighborhoods forming.

Accommodation for any budget

Dubai’s accommodations are among the best in the world. From luxurious waterfront villas to studio apartments in popular areas, Dubai offers a wide range of living spaces for all budgets.

Educational facilities for children

The UAE has a large range of school options for your children’s education. The options include British, American, Indian and Pakistani curriculum schools along with some other international programmes. Learn more about the various schools and how to choose the right one

Visas and Passports

Dubai has always been a destination that attracts investors and those looking to start a business in the country. The Dubai government offers resident visas for company employees for up to two years and investor visas that allow those who invest over a certain threshold to reside in the country between five to ten years. In addition, professionals who contribute to the country at the highest level can now obtain citizenship and local passports which was never possible before.

Fun and leisure activities

Dubai is an amazing city with a lot to offer. This city provides entertainment activities during the day and night. You can find bars, pubs, clubs and restaurants to make your nights full of fun. There are many hotels with different budgets to suit your pockets.

Cultural events and sports activities

Dubai attracts tourists from all over the world and offers many attractions like theme parks, water sports, desert safari and world class shopping. Accommodation is also very cheap in Dubai. Tourists can choose their preferred accommodation in any budget according to their needs.

Religious freedom

Dubai is a globally respected city that has successfully created the perfect blend of modernism and conservatism. The residents are free to practise any religion and the government has promoted the establishment of all religious institutions such as churches and temples. As a city that welcomes all nationalities and all religious beliefs, Dubai has successfully created an amiable and respectable atmosphere for everyone.

Advanced transport systems

Dubai has been rapidly growing in the past 15 years and today is considered one of the most popular destinations with its tourism attracting millions of people each year. The metro system here is among the best in the world and you will find yourself arriving at your destination quickly, conveniently and easy.

Breathtaking buildings

Dubai is one of the fastest growing cities in the world. As such, there is always a need and demand for new accommodation options. You will find the latest, innovative and luxurious hotels, apartments and serviced residences with great designs coming up around town every day.

Outstanding Healthcare

The remarkable standards maintained in Dubai’s healthcare provides all the more reason for families to settle down comfortably in this city of the future. The provision of excellent medical facilities with well-trained staff from around the world, with medicines imported from all over the world and state-of-the-art equipment makes it an ideal place for people who need quality healthcare.

Sumptuous international dining

A foodie’s paradise, Dubai features hundreds of mouth-watering restaurants and cafes. From the authentic Arabic cuisine to Michelin star restaurants, Dubai has everything you can imagine. Whether you’re looking for a casual meal out with friends or trying to impress a potential business partner, there’s something for everyone in the emirate.

There’s never a dull moment

Do you know that Dubai is one of the most unique and exciting destinations in the world? Here you can enjoy a desert safari for the weekend, a quick ride in a hot air balloon, boozy brunches, or set sail in a yacht for a couple of hours. Dubai offers spectacular possibilities, including world-class entertainment options for thrill-seeking adventurers and laid-back weekend for lovers.

 

 

Insight for Property Investors in Dubai concerning the Golden Visa

The Golden Visa already in effect for the past years and a success story is here to spread. The article is written for the purpose to provide awareness and insight for all property owners in Dubai concerning their eligibility to obtain the 10 years Golden Visa or the 5 years residency Visa. We hope this article will give you a better understanding on how to obtain yours.

 

The UAE has introduced the long-term residency visas in 2019 for certain individuals. The visas are renewable and are valid for 5 or 10 years depending on the kind of golden visa you are eligible for. As an investor, you have the choice between two types of Golden Visas: Investor Visa and Established Professional Visa.

The Golden 10 Years Visa:

The UAE Residence and Entry Scheme has been recently updated allowing property investors owning property worth AED 2 million to now obtain the 10 years Golden Visa!

The eligibility for the 10 years Golden Visa are:

• Golden Visa program sponsorship is open to applicants who are ready to invest a minimum AED 2 million value in a property or own share of a property (one property or more).
• Property investors in Dubai must meet all the requirements to get the Golden Visa. Property value must be at least AED 2 million, and if you are mortgage holder, then at least AED 2 million should be paid to the bank and provide a letter from the bank mentioning the paid amount from the mortgage
• If you are resident in Dubai and own off-plan property, once you get the handover letter of the project from the Developer and at least AED 2 million of property value must be paid to the Developer, you can apply for the Visa.

The Benefits are certainly:

• Ten-year residence in the UAE, with the chance to extend your visa when the requirements are met.
• The Golden Visa program by the UAE government has been created to invite new investors into the country. It offers 100% ownership of any business started and owned in the UAE.
• Under this visa scheme you can employ an unlimited number of domestic helpers.
• This new visa will allow all investors to open bank accounts and car licenses at a fraction of the time and cost it takes now.
• You will also get an extension on your time outside the UAE which is currently 1 year at a time, but will soon increase to 5 years with this new scheme.

The Retirement 5 years Visa:

The new law entitles a retired resident over the age of 55 years old, to apply for a long-term visa for a period of 5 years. Indeed, this visa can be renewed when the conditions are met.

The eligibility for the 5 years Retirement Visa is:

The new scheme will allow individuals to apply for permanent residency in three years. The individual must be 55 years old and above. He/she should make a minimum investment of AED 1 million value property or owned share (one property or more). Or, he/she can deposit AED 1 million in any local bank for two years and bring a letter from the bank that (the deposit cannot be released within 2 years). If the property is mortgaged, at least AED 1 million of property value must be paid to the bank and provide a letter from the bank mentioning the paid amount from the mortgage. If the property is off-plan, there should be a handover letter of the project from the Developer and at least AED 1 million of property value must be paid to Developer.

The 5 Years Residency Visa:

The Golden Visa is a great opportunity to immigrate to the UAE. Making an investment of over AED 2 million will allow you to apply for the visa, which entitles you to enjoy so many privileges. Our expertise will be guiding you through the entire process; therefore do not miss out this opportunity!

There has been a lot of buzz about cryptocurrencies in recent years. While there is no denying that cryptocurrency can be profitable, the recent collapse of FTX has dealt a devastating blow to an industry plagued by failure and scandal. We believe that real estate will always be the better investment. Here’s why.

1) Stability – Real estate values are much more stable than cryptocurrency values. For example, if you invest in real estate and the market crashes, you can still rent it out and earn money. In contrast, with cryptocurrency, your investment could be worthless overnight.

2) Tangibility – Another advantage of real estate investing is that it is a tangible asset. If you want, you can see it, touch it, and even live in it. Crypto-currency, on the other hand, is only available digitally.

3) Resale Value – If you invest in real estate, you can always sell it if you need cash quickly. With cryptocurrency, you’d have to find someone willing to buy your coins at the current market value, which could be difficult if the market is on the verge of collapsing.

4) Constant Demand – Finally, because people will always need a place to live, there will always be a demand for real estate. On the other hand, demand for cryptocurrency could vanish overnight if a better solution emerges or if the government intervenes and regulates it out of existence. 

Investing in real estate may not be as appealing as investing in cryptocurrency, but it is unquestionably the more prudent choice in terms of long-term stability and potential profits. Real estate is the place to be if you want to generate consistent passive income or grow your wealth over time!

The UAE is in the TOP TEN countries that millionaires are choosing to make their new home.

Many millionaires are leaving behind what were once stable & thriving economies in search of better opportunities in the Middle East.

There are many reasons why this could be happening and while I am no certified economist, this is my take:

1. The UAE handled the pandemic amazingly well. Through structured procedures, we were able to make lockdown a minimal experience, keep businesses turning over and get back to a level of normality much quicker than other major countries worldwide.

2. People like to be surrounded by high value, motivating and inspiring people. With the UAE already home to a substantial amount of millionaires, it makes sense for High Net Worth Individuals to follow suit.

3. The UAE has introduced many incentives to drive the economy. The recent Visa changes has made it easier for people to obtain Freelance Visas, Golden Visas and most notably in the Real Estate industry the 2Million AED investor visa when purchasing property.

4. Dubai may be one of the fastest growing cities in the world but is still planning on growing further and becoming bigger and better.

The Dubai 2040 Urban Master Plan focuses on enhancing people’s happiness and quality of life as well as reinforcing Dubai as a global destination for citizens, residents and visitors over the next 20 years.

The UAE government also plans to increase the population from 3.3 million to 7.8 million by 2040 through this Master Plan and a number of additional initiatives.

5. Finally, in most major economies, the more money you make, the more tax you pay. Not here! Dubai has 0% income tax making this the ideal place to not only earn money but to see exactly what you earn reflected in your bank balance.

Would be interested to hear the various opinions around this and if you are looking to be one of the millions moving to Dubai in the coming years, get in touch!