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Lootah: 68% of property investors buoyed by UAE permanent residency

Lootah Real Estate Development survey shows 79% of UAE expat investors planning expansion amid Gold Card optimism

The UAE's Gold Card is a boost for property spending.
The UAE's Gold Card is a boost for property spending.

Months after the launch of the 'Gold Card' permanent residency scheme in May 2019, 79% of UAE investors have said they would expand their portfolios in the country buoyed by the Emirates' new long-term visa facility, according to a survey conducted by Lootah Real Estate Development. 

The survey, which was completed by 1,012 respondents, showed that 68% of the UAE's expat investors planned to invest in property, with the majority favouring Dubai, with the remaining respondents targeting business ventures and stocks for future investment.

Lootah Real Estate Development's chief executive officer, Saleh Abdullah Lootah, said the increased degree of expat interest in real estate investments reflected their confidence in the market.

He added: “The property sector is one of the major sectors driving the UAE economy and the shift of [expats'] mindset to buying from renting is definitely a great boost.”

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Construction Week - Issue 749
Sep 15, 2019