UAE Golden Visa: Dubai becomes popular place for residents to live

 

Top executives claim that Dubai is no longer a transient city where people only stayed for a short while since new policies, such as the golden visa and corporate legislation, have engendered a sense of belonging and made individuals want to retire here. 

"In Dubai, people used to stay for four to six years on average, but since the golden visa and company law changes, people are defining their own standards, and the average time has grown. Many people who have chosen to retire in Dubai are considering it as one station in their lives, according to Hawazen Esber, CEO, of Development, Majid Al Futtaim Group, who was speaking on a panel.

The UAE enhanced the eligibility for a 10-year golden visa for a number of groups, including scientists, exceptional students, entrepreneurs, professionals, and businessmen. It also permitted 100 per cent foreign ownership in mainland enterprises. These two projects are being hailed as game changers for the nation's potential economic growth and for luring the greatest talent.

The golden visa programme, among other things, enables comprehension of a longer generational element of living, according to Amit Kaushal, Group CEO of Dubai Holding. People desire to establish roots, therefore single-family and multifamily housing are beginning to move in different directions.
He also emphasised the significance of the emirate's infrastructure throughout the panel discussion. He emphasised that the emirate is planning 10–20 years into the future.
Dubai, according to Hawazen Esber, generates a lot of chances, jobs, innovation, tourism, and retail sales. "The rate of success for governments is the largest problem. And we observe an extraordinarily high success rate in this region of the planet. Dubai's appeal stems from this, and it will continue to do so, he claimed.

Cities have urban master plans, but Esber noted that their execution presents a challenge. He continued, "What also makes Dubai quite unusual is the proximity or integration of the private sector.