Dubai's Emaar refutes claims of 10-year UAE visa offers for buyers
The development giant denied that it would provide the UAE's newly launched 10-year visas to buyers of units in its projects, such as Dubai Creek Harbour
Emaar has refuted claims by some media outlets that it will offer 10-year investor visas to buyers at six residential projects under development.
In an emailed statement, a spokesperson for the Dubai development giant said: “The issuance of visas falls under the purview of the concerned authorities and Emaar does not have a role regarding the same.
“Emaar refuted the report by a section of the media that it will provide 10-year visas to investors.”
The purpose of the email, the spokesperson added, was “to clarify any misunderstanding that might have been created by the said reports”.
The comments follow reports earlier on 10 September, 2018, by some local media outlets that stated such a visa incentive would be offered by Emaar to buyers and their families, as part of the stimulus package announced by the UAE in June to attract more investors.
Projects that were reportedly included in the plan include those in Dubai Creek Harbour and Downtown Dubai.
The UAE government has in the past year implanted a raft of measures designed to boost investor confidence and deepen investment into the country.
May 2018 saw the approval of a range of measures in this direction, including a decision to allow 100% foreign ownership of UAE-based companies for international investors, and allowing residency visas of up to 10 years for investors, doctors, engineers, scientists, entrepreneurs, and innovators.
The move was welcomed by property chiefs from Azizi Developments, Danube Properties, Samana Developers, and Gemini Property Developers.