UAE’s new permanent residency rule to help property market
The permanent residency is a good step forward and likely to boost the fortunes of its property market, a statement from the Property Finder said.It said that around 6,800 people have been granted permanent residency and a ‘Gold Card’ in the first round of applications.
“This is a game changer for the real estate industry in Dubai. We are yet to get full details of the Gold Card program, such as who can qualify and the terms. However, it’s definitely a step in the right direction and very much needed to stimulate investment,” Lynnette Abad, Director of Research and Data, Property Finder, said.