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Inside View Dubai 2020 INSIDE VIEW DUBAI 2020 PAGE 1 Overview few cities could manage both at The upcoming Dubai Expo 2021 the world’s tallest building at over the same time. is a major private and public one kilometre high and the future sector focus, and the project and world's largest mall. The largest However, Dubai is not one for its significant investments are China town in the Middle East will standing still. Over the last year, coming to fruition. The six-month also feature here. Dubai, and the UAE, has continued event, the first to be held in the to improve its ease of doing Middle East, is expected to attract In the mainstream market, business by implementing a new an estimated 25 million visitors. competition is fierce and law that allows 100% on-shore Key infrastructure improvements developers continue to offer foreign business ownership for 122 include the Metro extension and an array of sophisticated dbb activities across 13 sectors. the continuing development of developments and incentives to entice buyers. Opportunities Visa regulations have also been Al Maktoum International airport, which once complete will have include Emaar Beachfront, Port De eased. New legislations include La Mer, Central Park at City Walk the introduction of five year capacity to handle over 200 million passengers annually. and Madinat Jumeirah Living. This retirement visa for those over influx of supply has put downward 55 years old with an investment These developments will help pressure on values but has also of AED 2 million or more in the the fabric of Dubai to continually enhanced affordability; allowing property market, income in excess mature and attract an even families to upsize, first time buyers of AED 20,000 per month or more diverse group of buyers to to enter the market, and an array those with more than AED 1 million the market. We are observing of high yielding properties for in capital. investors of various nationalities investors, benefiting from post Other options include five year acquiring Dubai residential completion payment plans. assets as part of their portfolio, visa terms for investors who Most recently, the United Arab purchase above the AED 5 alongside their pied-à-terre in New York, a home in London Emirates has emerged as a world million threshold. In addition to leading example of decisive and these property related visas a for their children’s education or a second home in the south of effective government during the range of business investment global covid-19 pandemic, and visas have also been approved. France for their lifestyle needs. Our clients are truly global citizens as we see lockdown measures Capital investments over AED 10 systematically relaxed the million in enterprise can obtain and Dubai is quickly establishing itself as a key centre for property resilience of Dubai is taking a 10-year visa, where up to shape. Stimuluses’ such as the Dubai: An emblem of 40% of the investment can be investment. We see consistent now increased 80% loan to value related to property purchases. demand for established prime markets in Dubai such as available for certain purchaser Entrepreneurs in the UAE with types and record low interest resilience and progress previous business investments Downtown, Emirates Hills and the Palm Jumeirah. These amenity rates on mortgage products worth over AED 500,000 or have also made it a fantastic Dubai has firmly established itself as a global hub, yet those with a business which rich areas with their world-class and Frankfurt, are located within property and mature communities time to consider entering the continues to develop its built environment and soft is accredited by a business marketplace. infrastructure in order to position itself as the world’s eight hours flight time, which incubator, will be able to obtain a will continue to be the epitome smartest and most liveable city. covers two-thirds of the world’s five year visa with the possibility of Dubai’s live, work and play population. of obtaining the aforementioned environment. The United Arab Emirates gleams One of the driving factors for These fundamentals combine business investor visa, should Although new and upcoming as a progressive beacon of Dubai’s development as a critical well with the city’s strong showing they eventually meet the criteria. neighbourhoods and master political stability, social cohesion global gateway is it's geographic in the Global Financial Centres Finally, the approved legislation planned developments such as and prosperity in the Middle position, being uniquely located Index, the Mercer Quality of Living also allows for a 10-year visa Dubai Hills Estate, District One East. The emirate of Dubai, in to act as a hub for accessing Asia, Survey, the Economist Intelligence for high value talent in selected and Jumeirah Bay with their particular, has showcased these the Middle East and Africa – all key Unit’s Global Liveability Ranking fields, as well as five year visas for incredible mansion villas and fundamentals to the world. future economic growth centres. and Lonely Planet’s eponymous students who are studying in the sprawling modern apartments will Through its rapid transformation Within a four-hour flight time, cool neighbourhood listing. The UAE, and their families. certainly challenge this status quo. and business friendly environment, Dubai is able to access 10 leading fact that quality of life and ease Alongside these soft infrastructure Dubai Creek Harbour is certainly Dubai has become a leading global cities, including Riyadh of doing business keep rising, developments, we are also seeing on its way to doing this, and when global financial and business hub, and Delhi or a third of the world’s alongside stellar population complete this urban metropolis Matthew Cooke the built environment in Dubai Partner alongside being one of the world's population. A further 24 key cities, growth, points to the fact that continue to evolve. will be home to what is set to be Knight Frank most visited cities. including London, Singapore Dubai has got many things right– Middle East PAGE 2 PAGE 3 Lifestyle Discover all that’s possible As a touristic destination, the United Arab Emirates (UAE) is known for its world renowned architecture, gleaming beaches and its extraordinary malls. This, world-beating offering, is only just a part of the UAE’s offerings, there is much more to Dubai and the UAE. Al-Hayl Castle international influences which Al Rufaisah Dam and have shaped the UAE remain Wadi Shawka 1 hour evident to today. drive Fujairah 3 hours Fujairah Castle, also known as drive Sharjah Wadi Shawka Whilst Snoopy Island, just off Al-Hayl Castle or Fujairah Fort, was built over 250 years ago and the coast of Fujairah, has put the Al Rufaisah Dam sits in Khor " The country’s Eastern Mangroves species in the UAE is the avicennia emirate on the map and is a must sits in the Hajar mountains, close Fakkan, a town located on the marina or grey mangrove. These for snorkelers and divers, the to Al Hayl village. The fort has east coast of the United Arab natural wonders 1 hour mangroves showcase the variety emirate of Fujairah offers a range been involved in many battles Emirates. The dam itself was built 15 mins Abu of wildlife and nature that the UAE and history offers drive Dhabi of historic attractions. throughout history and has now in the 1980’s and has resulted in a everything the is home to. The forests are home turned into a historical landmark beautiful lake which is surrounded The natural mangroves in the to fish and turtles species. They The UAE's historic value is not of Fujairah. country’s residents by rocky mountains. Visitors will UAE are a important part of the also provide a safe haven for birds acknowledged as much as it enjoy the expansive scenery and visitors that are nesting or migrating. Although not significant in size, country’s marine ecosystem. should be. Given its central from the rest area or get more a visit to Al Hayl castle will offer could desire." Mangroves are the unique woody location, both in the region and involved by checking out the While there are mangrove forests an insight into the country's plants that grow along the UAE's globally, throughout history boating facility. The location truly sprinkled across the UAE, they it has been a key trade and history and is a good example of coast lines, covering thousands are mostly situated in Abu Dhabi. transports you to another world, of hectares. The most common shipping hub. Remnants of these traditional architecture. visitors are most likely encounter Mangrove forests are among the swans, eye-capturing plant life top experiences for nature lovers. and many like-minded people. The Eastern Mangrove Lagoon in Abu Dhabi is very popular for sea Those looking for a more activity paddlers. Visiting the mangroves based adventure should drive to paddle through the routes over to Wadi Shawka. The Wadi, between the forests a great way to which translates to "the valley", spend an afternoon for individuals, floods and dries depending families and couples. on the season. As a result its scenery and the activities one can partake in change from month- to-month. Due to this, it is gaining Thomas Farmer popularity with explorers, it is a Associate Partner prime location to get some hiking, Head of Marketing and Communications mountain biking, swimming and Knight Frank camping in. Middle East Al-Hayl Castle Eastern Mangrove Lagoon PAGE 4 PAGE 5 Meet the Experts – Visas Dubai: the home of the global citizen Murtaza Khan is Managing Partner for Middle East & Africa at Fragomen, the largest global immigration advisory firm.
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