Buy Dubai house, get free trade licence

Emaar in partnership with the Dubai Multi Commodities Centre has launched 184 units in an under-construction building in Dubai Hills Estate. Those who pay 20 per cent of the apartment price at Executive Residences will receive a free three-year renewable business licence (estimated to be worth Dh130,000), a free three-year renewable family residency visa and 100 per cent business ownership. The owner can also apply for an employee visa with every trade licence. This is a product targeted at entrepreneurs and SMEs and is touted to be a game-changer in the UAE real estate industry. Entrepreneurs can now do away with the need to rent office premises. "It will give buyers the freedom to work flexible hours and perhaps set up a business they can run from home. The offer is exceedingly attractive to families with young children as it will give parents the option to spend more time at home and be flexible with child care," said Lewis Allsopp, CEO of Allsopp&Allsopp. A one-bedroom apartment is priced below Dh1 million while two-beds range from Dh1.3 million to Dh1.6 million. The building is slated to be ready by 2021.