Golden Card, the new permanent residency system launched by the government will increase long-term investment in the UAE’s property sector, experts and property developers said.
The founder and chairman of Sobha Realty, PNC Menon said: “Such inspirational initiatives will go a long way in creating sustainable communities, enhanced cultural and social identity and preparing capable and skillful human resources in the UAE.”
“This is wonderful news for all the residents and this decision will bring so much more trust and confidence in investors who have invested huge money in the UAE. Additionally, it will strengthen the personal loyalty of the expatriates to the UAE and encourage them to invest in their future,” commented byRizwan Sajan, founder and chairman Danube Group.
Shaher Mousli, chairman of Arthur Mackenzy Properties Group, pointed that the UAE was already leading the curve in terms of its viability and attractiveness as a business and investment destination.
“The announcement is a huge milestone for the property market. It will give further stability to the UAE by attracting more distinguished professionals to the country,” said Lewis Allsopp, CEO of Allsopp & Allsopp.