His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai announced the launch of permanent residency system for a niche group of 6,800 UAE residents. These include investors in the fields of science, engineering, and art. This is the latest addition to government reforms in the UAE to encourage foreign investments and entrepreneurship opportunities. This is a major milestone for UAE and will have a positive impact on the real estate market. Read the full article here.
The increase in mortgage transactions is a very positive sign. It demonstrates more end users are buying, which will help stabilize the market as long-term buyers or investors are displaying confidence to invest in real estate.