As Statement to the World: Dubai is a Haven for Innovation & Investment

23-05-2018

Following a cabinet meeting yesterday, HH Sheikh Mohammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, made a ground-breaking announcement via Twitter.

The decision allows 100% foreign ownership of UAE companies in the UAE, and extends visas to 10 years for Entrepreneurs, Innovators, Investors, Scientists, Doctors and Engineers.

I could not be more proud right now to be a resident, a father and a businessman in Dubai.

This decision is a revolutionary step towards further diversifying the economy of Dubai, enhancing the Emirate’s stance “as a primary destination for international investors and top talent from around the world.

The implications for living, investing and having an entrepreneurial mindset in Dubai will be nothing short of extraordinary.

Growth will be driven by increased investment – and in turn domestic consumption, on the back of new rules and regulations that make it easier to work, live, invest and dream big in Dubai. The ripple effect from this decision will positively affect Dubai’s real estate sector; the long-term positive effect on Dubai’s economy will result in heightened investment in Dubai’s property market.

Working with investors on a daily basis, this is the assurance they need to confidently take a leap into this market, foregoing countries around the world to securely invest their funds, their futures and their very everyday living in Dubai – for the long-term.

Investors have been slowly regaining their confidence in the property market since it first plummeted into recession in 2007, owing to a number of studied factors and initiatives introduced by the government to stabilize and secure operations: the introduction of RERA, strong regulatory rules and regulations by Dubai Land Department and generally, Dubai’s growth as a capital for investment. The announcement made yesterday was the next big step on track to becoming a haven for investment.

Yesterday’s announcement is the big boost that sets Dubai steps ahead as a global economic player. The changes will soon be felt by all, regardless of sector of operation.

Dubai is famous for actively striving to play a significant role in shaping the cities of the future. Record-breaking architecture and superlative living is something its residents have become accustomed to. In addition to the security and ease of life that is unmatched in most parts of the world. This is what drives people to Dubai, to work, to study and to live. I am Lebanese, my wife is American; I was born here, my children are being raised here. Our ties to the UAE run deeper than investment in business and property – it is an emotional one. No matter where we venture, this is home. Dubai has managed to establish itself as a place for living the dream. It is a land of opportunity for those actively willing to seize them.

10-year visas is something incredible. It shows the world that Dubai has open arms for those looking to drive the growth and development of this city. It shows Dubai’s commitment to becoming the city of the future.

I have never been more excited about what comes next.

How about you?




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