A couple of months back, the UAE government stated that it would issue 10-year visas for investors and also approve 100 percent foreign ownership in the country as this would bring up the best talent in the world and also attract foreign investors to directly invest in the country.
Are more developers working on bringing purpose-built retirement home projects to the UAE after the new law?
As the law has just recently been announced that it’s a bit early to see any developers launching any purpose-built projects. However, it is definitely on top of their radar compared to previously and especially when there are over 150,000 residents aged 55 and over who need to be catered for. There is definitely a case for purpose built retirement homes and will expect to see developers jumping into this category very soon.
Why aren’t more developers offering rent-to-own schemes in Dubai? Is it not lucrative enough for them?
Each developer will be unique and will have different strategies in marketing their developments. The developer’s financial circumstance and risk appetite will definitely play a key part in their decision on whether they offer a rent to own scheme.