27 Apr Privileges for the Saudis in the UAE investment market
Welcome to this article provided by Itqan company for establishing companies in Dubai. Today, God willing, we will discuss the issue of the privileges of the Saudis in the UAE investment market. Especially in real estate investment. The real estate market in the UAE really started 20 years ago, in 2002, When the government passed a law allowing foreigners to buy property in the newly created free zones in Dubai. Abu Dhabi was the last country to launch its investment zones in 2005. as expected, This witnessed an influx of foreign real estate investments into the UAE, Where non-Emiratis purchased commercial real estate and residential units in the United Arab Emirates.
Similarities between cultures between Saudi Arabia and the United Arab Emirates:
One of the factors that Saudi investors resort to investing in the UAE is the similarity of cultures, whether at the level of language, art or cuisine. They have almost the same language, with a slight difference in dialect. They hear the same music, they cook the same dishes, All these factors reduce the sense of alienation among the Saudis. In addition to the proximity of the Kingdom of Saudi Arabia to the United Arab Emirates, this is also an encouraging factor for investment in the Emirates by the Saudis.
Saudi Arabia and the Emirates
The UAE and Saudi Arabia have long enjoyed a special relationship over many matters including real estate. This is evidenced by the formation of Saudi tourists, the largest base of foreign visitors in both Abu Dhabi and Dubai. With more than 7 billion dirhams flowing into the UAE as investments by Saudi nationals, Saudi Arabia has emerged as the second largest investor in UAE real estate after India with a value of AED 15.6 billion in the past few years.
Saudi investments
Dubai was the best choice for investments by Saudi nationals. 68% of the properties purchased by investors in the United Arab Emirates were concentrated in Ajman, Abu Dhabi, Sharjah and Dubai, One of the reasons behind this is Dubai’s absolute knowledge of the Saudis. It’s a city most investors know well. In a country that shares similar values as Saudi Arabia. The UAE is also known for its investor-friendly policies. And quality developments at all levels. Saudi nationals have invested more than 7 billion dirhams in the real estate market in Dubai compared to the previous six months. And more than 2560 investment deals.
Search trends for Saudi investments
Downtown Dubai was the most requested among the neighborhoods in Dubai by users residing in the Kingdom of Saudi Arabia, As well as Saudi investors to launch their own projects in the beating heart of the United Arab Emirates, i.e. the city of Dubai. Despite the popularity of the country among Saudi investors and the compatibility of cultures between the two countries, it seems that the investments of the Saudis depend on the reputation of the United Arab Emirates, as the UAE is distinguished by its investment character as a high-class commercial pole, Which indicates that real estate is of interest only for investment purposes and return on investment in the first place, and not for personal use and tourism.
efforts of the Kingdom of Saudi Arabia
Saudi Arabia is actively engaged in its own real estate market. And works to promote investment in its own real estate in the United Arab Emirates, Thanks to the many new projects and the efforts exerted to increase real estate ownership rates outside Saudi Arabia, The success achieved by Dubai is undoubtedly due to the city’s proximity to the Kingdom of Saudi Arabia and its wonderful real estate reputation stemming from the quality and speed of launching real estate projects in Dubai.
We hope that you have succeeded in benefiting from this article, which is rich in useful information. We are an ITQAN startup company based in Dubai, United Arab Emirates. We are here to help you set up your new business and control its legal and administrative matters. With tips from experts that help make your business a success.
For any inquiries, contact us now. we’re waiting for you .
Contact us today and get a free consultation to implement all your business plans!