Dubai's 2040 plan to be the best city to live in the world is incredible. Dubai is already a spectacular place to live but to have leadership who consistently plan and execute betterment is hugely encouraging. The city has come a long way in such a short amount of time and has shown such quick forward-thinking leadership throughout the pandemic to keep residents safe and keep the economy on the right track.
As residents here in the UAE, we are very fortunate and I believe things will only get better as time goes on. The 2040 plan is enticing for overseas property investors, entrepreneurs and for expats already residing in Dubai. The city is becoming more and more of a home for everyone and a forever home at that!
Although 2024 seems a long way off, we can see that Dubai is continuously growing and looking for ways to improve the quality of life for its residents. Most recently, the introduction of the increase of LTV and lower interest rates as part of the stimulus programme. There has also been the introduction of dual citizenship, golden visas, remote working visa, 5 year visas and retirement visas - all of which weren’t available prior to 2018. UAE leaders are making Dubai a very attractive city to live for expats.
During the pandemic, Dubai locked down swiftly in a bid to control the spread of the virus among its residents. Borders were closed and a sterilisation process was put in place - the streets were cleaned through the nights and residents needed permits to visit shops and outlets that were deemed essential. Masks were promptly made mandatory all to protect each other from Covid-19. Residents were made to feel safe and that the government had everything under control. As lockdown eased the economy slowly began to recover and investors and tourists from overseas were enticed to the city which remained open!
The UAE’s vaccination rollout has been efficient and timely. As of the 21st of March, 2021, a total of 7,181,056 of the UAE population have been vaccinated - 56.59% of the population who were eligible for the vaccination. Again, the UAE and Dubai have been on the world stage for their handling of the situation. They were quick off the mark to ensure they secured vaccines for their residents to get the country back to a more normal way of life promptly. This has caught the attention of many foreign investors and also professionals looking to broaden their horizon.
With such fast acting against the pandemic and with processes put in place to make life easier for those residing in Dubai the city is already plaguing itself high on the list of best places to live. Adding such a detailed master plan for the city only exacerbates this and adds an abundance of confidence from expats and foreigners looking to invest, grow their businesses and further their careers.
As a result of building confidence from residents, the Dubai property market is sure to flourish as a result. Rentals will see an uptick from new arrivals and those on remote working visas and the sales market will continue to grow as families and individuals see themselves in the city for the long run. The commercial market will also benefit immensely as foreign business owners set up shop in Dubai either renting or buying commercial properties.
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