Are you traveling to the United Arab Emirates (UAE) soon? UAE is a federation of 7 emirates, with Abu Dhabi as its capital, lying on the Arabian Peninsula and sharing borders with Oman and Saudi Arabia. It covers an area of 83,600 km² and has a population of about 10 million as of 2022.
UAE is a highly attractive country to live in. From its inception as just a hot desert to its remarkable transformation as the city of the future; UAE has become one of the fastest developing nations and the number one country in the Arab World. This is thanks to the incomparable quality of life it offers from excellent medical facilities, highly developed infrastructure to modern accommodation, high-quality education, and more. One of its unique and highly attractive benefits is that it’s a tax-free country that is also known for its low crime rate. UAE is also economically stable with the Dirham showing stability over the years as reflected in its national economy.
UAE welcomes expats from all over the world to the extent that they represent about 80% of the population, with 200 nationalities living together and influencing each other. That is why UAE has become a multicultural country. Many foreigners come to UAE for work as it offers some of the best employment opportunities in the world with attractive salaries and a tax-free environment.
Taking a closer look at the real estate sector in UAE, it is considered one of the most important sectors that led to its economic growth. UAE encourages foreign investment by enabling foreigners to buy a property in specific areas called “Freehold Areas” whereby they can enjoy the property’s full ownership, the tax-free system, and can also obtain a UAE residency visa. For those reasons, investors come from all over the world to invest in the real estate market for the benefits UAE offers.