UAE-Israel Peace Treaty Sparks Positive Sentiments in Dubai Realty
Despite a downward trend in property prices, sentiments in Dubai’s real estate sector are high owing to the recent developments in UAE-Israel relationships and pent-up demand over the last few months leading to an uptick in sales. The historic UAE-Israel peace deal was signed in Washington yesterday and this will play a positive role in attracting investments in real estate. The UAE offers an excellent opportunity for Israeli investors looking to diversify their real estate holdings and achieve a good rate of return. The close geographic proximity will also be appealing and compared to many international cities such as London and New York, the shekel will stretch much further in the UAE. This amazing coalition will connect the most prolific investment community with the finest investment platform, says Atif Rahman, partner and director of Danube Properties. "The UAE is one of the safest and most inclusive societies with a track record of tolerance. This helps businesses to thrive and grow. Excellent infrastructure, strong regulatory framework, immigration reforms, trade liberalisation, geographical advantage further boost the UAE advantage. These together create safe and high-yield investment opportunities. We are proud of the historical peace treaty, it will commence a new era of stability for the entire Arab world,' says Rahman. Elaine Jones, executive chairman of Asteco Property Management says the possibility of an “increase in our potential investor base is welcomed, most particularly at this time.” Where Israel investors buying property in Dubai are concerned, Jones says registration of property by any nationality needs to be first approved by DLD. “We expect a clear directive from them shortly,” she says.
Tags : INTERNATIONAL