Vista Magazine by EuroEstates Properties

Pioneering Transformations VOL 1 // 2023

OFF-PLAN OPPORTUNITIES

THE PROFIT PARADOX

Real Estate Investment & The Power of the Golden Visa - Understanding Benefits and Process Investing Ahead, Resting Assured: Legal Safeguards in Dubai’s Real Estate Landscape

At EuroEstates Properties, we are more than a real estate brokerage - we’re seasoned property investors and specialists. From resale to off-plan projects, we understand the full spectrum of the real estate market. Our dual role equips us with an insider’s understanding of the market dynamics and investment opportunities. We leverage our first-hand experiences to identify promising ventures, assess potential risks and rewards, and provide pragmatic advice. Our unique blend of investment expertise with brokerage acumen allows us to deliver superior, personalized real estate services across residential, commercial, and short-term rental markets, including both resale and off-plan properties in Ras Al Khaimah and Dubai, while fostering lasting relationships rooted in trust, integrity, and mutual growth.

EXPECT MORE.

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HOW TO Thrive IN REAL ESTATE INVESTING

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2 Exploring Horizons

Interview - In Dialogue With Mr. Abdul Rahman

Khalifa, Head of RERA Ras Al Khaimah

PIONEERING Transformations

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RAS AL KHAIMAH: THE HIDDEN GEM OF Investment Opportunities IN THE UAE

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Spotlight Properties

DISCOVER THE CROWN JEWEL OF THE REAL ESTATE MARKET - Ellington Properties

How to Thrive in Real Estate Investing

Welcome to the first issue of Vista by EuroEstates Properties! This publication delves into the exciting world of real estate investing in the United Arab Emirates (UAE). With its dynamic property market, the UAE presents a plethora of opportunities for savvy investors.

Success in this market begins with understanding its landscape. Each of the seven emirates offers distinct real estate opportunities, with Dubai and Abu Dhabi being the most prominent. That said, other regions like Sharjah, Ajman, and Ras Al Khaimah also offer significant potential for investment.

Knowledge of local property trends, understanding real estate laws, staying up-to-date with current investments, obtaining insights into the real estate investor visa process, and being well-prepared for property buying are all crucial elements for informed decision-making and avoiding costly mistakes in the UAE’s property market.

Diversifying your real estate portfolio is key to managing risk and achieving long-term success. The UAE boasts a variety of property types, allowing investors to

mitigate risks and capitalize on growth opportunities. Engaging a reputable local property consultant or agency can help identify lucrative investments, negotiate deals, and ensure compliance with local laws while also optimizing asset management and returns.

Embracing technology is crucial, as the UAE leads in innovative city development and innovation. Investing in properties with sustainability features, energy-efficient systems, and smart home technologies attracts tenants and buyers and enhances long-term value and saves on operational costs.

Stay informed and adaptive as the UAE’s property market constantly evolves. Keeping abreast of new regulations, trends, and opportunities ensures you can adjust your investment strategy as needed.

Following these guidelines and maintaining a proactive approach can unlock the true potential of real estate investing in the UAE. The journey may be challenging, but the rewards are worth the effort. Here’s to your success in the UAE’s vibrant property market!

— The Editors

© 2023 EuroEstates Properties. All rights reserved worldwide. Unauthorized reproduction, in whole or in part, in English or any other language, is strictly prohibited. While EuroEstates makes every effort to ensure the accuracy of the content, we cannot assume responsibility for any errors or inaccuracies, nor can we accept responsibility for the content of advertisements. This publication does not constitute legal advice in any form. For inquiries, please contact us at contact@euroestates.ae.

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The vast exteriors and interiors of Ocean House introduce textures and funnels of light that speak the language of the sea: calming, refreshing, soothing and powerful. Ocean House perfects the art of island living with exclusive amenities that are transformed into experiences, made unforgettable by design.

In the whirlwind world of real estate, few regions hold as much untapped potential as Ras Al Khaimah (RAK). So, what happens when we pull back the curtain and delve into the beating heart of its real estate regulatory body, RAK’s RERA?

Prepare to be astounded!

This engaging interview promises to push the boundaries of your understanding and ignite a burning curiosity about RAK’s unfolding real estate narrative. Brace yourselves for an enlightening expedition that’s not just about properties and regulations—it’s about the future of an emirate, and possibly, the blueprint for a digital real estate revolution.

EuroEstates’ CEO in dialogue with Mr. Abdul Rahman Khalifa, Head of RERA Ras Al Khaimah

NAVIGATING THE FUTURE OF RAK REAL ESTATE:

Pioneering Transformations in Ras al Khaimah’s Real Estate Landscape

In our relentless pursuit to gain a holistic understanding of the rapidly evolving real estate landscape in Ras al Khaimah (RAK), we were recently fortunate to engage in a riveting discourse with Mr. Abdul Rahman Khalifa, the dynamic helmsman steering RAK’s real estate sector into the future, whose vast reservoir of knowledge and his 14-year-long dedication to the local real estate industry is both inspiring and enlightening.

In April, we had the privilege of sitting down with a dynamic figure in Ras Al Khaimah’s real estate industry, Mr. Abdul Rahman Khalifa, Head of the Real Estate Regulatory Administration (RERA). Currently doubling as the Interim

Head of the Land Department of RAK, Mr. Khalifa offers 14 years of nuanced understanding of the local real estate market. His passion for reshaping the real estate landscape of the Emirate is palpable in each significant project he’s engaged with. In making RAK an irresistible magnet for developers and investors, his vital contributions speak volumes about his unwavering vision and commitment.

Mr. Khalifa holds a key position on the committee responsible for shaping the real estate regulations of the Ras Al Khaimah Emirate. He is deeply involved in the day-to-day operations of the most significant real estate and tourism projects that the Emirate hosts. His pivotal contribu-

tions have been instrumental in establishing Ras al Khaimah as an attractive hub for both developers and investors. Mr. Khalifa’s enthusiasm and commitment to the ongoing transformation of the Emirate’s real estate industry is strikingly apparent to those who have the opportunity to engage him in wide-ranging discussions that delve into the intricate aspects of the local real estate sector.

We learned that Ras al Khaimah’s RERA was established in 2008 as a result of the Emiri Decree No. (22) issued by His Highness Sheikh Saud bin Saqr Al Qasimi, the Ruler of Ras al Khaimah, and further reinforced by Emiri Decree No. (10) of 2014 from His Highness the Crown Prince of the

DIALOGUE WITH MR. ABDUL RAHMAN KHALIFA, HEAD OF RERA RAS AL KHAIMAH

Emirate of Ras al Khaimah, Sheikh Mohammed bin Saud bin Saqr al Qasimi. The inception of this authority came as a response to the global real estate crisis of 2008, a crisis attributed mainly to insufficient organization and regulation.

This development also prompted the creation of similar authorities in other Emirates around the same time, as a preventative measure to avert such crises in the future. At its core, RERA Ras al Khaimah’s mission is to oversee and regulate the local real estate industry. This comprehensive mandate ranges from steering the real estate sector and crafting future strategies in collaboration with other pertinent governmental authorities to establishing frameworks and guidelines for tasks undertaken by property management companies, real estate brokerages, owners’ associations, and even the accreditation of real estate companies throughout the sector.

Moreover, the department establishes a legislative framework that harmonizes the relationships

between stakeholders involved in individual transactions, ensuring delineated rights and obligations. This fosters balance and transparency between often conflicting interests. Mr. Khalifa underscored the importance of monitoring overall market conditions, processing feedback, and addressing grievances regularly. These actions are crucial in fostering trust among all parties, implementing tangible improvements, and fortifying the potential for Ras al Khaimah’s continued growth as an investment destination. After gaining a clear understanding of the duties

and responsibilities of the RERA authority in terms anyone could grasp, we were eager to delve into any ongoing or upcoming regulatory developments in the Emirate. In response to this inquiry, Mr. Khalifa shared that they were in the concluding stages of crafting four new laws, or Emiri decrees. These laws would address real estate development, strata laws, property evaluations, and regulations specific to real estate brokerages and agencies. The second of these laws, known as the Strata Law, addresses the management of common areas after a project’s completion. The

regulations will cater to two potential scenarios: one where the developer continues to manage the property post-handover, and the other where the developer exits the project after handover, resulting in the formation of an owner’s association. In the case of an owner’s association being formed, the new regulations dictate that RERA will nominate responsible individuals. These nominees will then bear the responsibility for property management and will be held accountable by RERA for all subsequent matters, including the appointment of facility management, budgetary expenses, service charge reporting, and so on.

This regulatory move was prompted by RERA’s awareness of current market dynamics, where some parties (developers or property management companies) have been lax in their assumed duties concerning service charges and management fees. In some instances, these fees have been unilaterally increased without clear communication or participation from property investors.

With the advent of the new

Strata laws, every expense will be reported transparently, and any current or future increases to service fees will need to be justified through due process. This process will also necessitate the consent and participation of the property investors. These regulatory changes primarily aim to boost investor confidence and eliminate any bad actors from the industry.

Mr. Khalifa then delved into the details of the fourth new law, scheduled to be implemented in the last quarter of 2023. This legislation represents a comprehensive revision of Emiri Decree No. (6) of 2008, which previously pertained only to the “mainland” of Ras al Khaimah. In contrast, the amended law will include regulations concerning freehold property in the Emirate.

For our readers who may not be familiar with the distinction between “freehold” and “mainland” property in the Emirate of Ras al Khaimah, Mr. Khalifa provided a clear explanation. He defined freehold property as land that is qualified by the authorities for 100% ownership by foreign nationals. In contrast, mainland properties

EuroEstates staff receiving an award from Mr. Abdul Rahman Khalifa, Head of RERA

are only eligible for ownership by Emirati and GCC nationals in the Emirate of Ras al Khaimah. Freehold lands in the Emirate are individually assigned to large developers by the Ruler of Ras al Khaimah, facilitated by the issuance of a corresponding Emiri Decree and an accompanying Memorandum of Understanding.

In addition to regulations concerning both mainland and freehold properties, this updated law will cover areas related to the operation of real estate brokerages and management companies in the Emirate. The new legislation will bring the practices of brokerage and property management companies in line with those seen in the neighboring Emirate of Dubai. Notably, each property listing across various media will require pre-approval from RERA, and all brokers in the Emirate will need to register and obtain a broker ID issued by RERA. This applies to both free zone and mainland real estate companies. Additionally, a property can only be listed through a maximum of three brokers.

Moreover, the new law will enable foreign investors to wholly own a real estate brokerage or management company in the mainland without needing an Emirati sponsor or partner, a privilege previously exclusive to the free zone. The implementation of this law will come with a transition period of three to six months, depending on the case, to allow relevant entities adequate time to adjust both internally and externally.

Mr. Khalifa emphasized that the aim of these comprehensive efforts is to bolster transparency and instill greater confidence in the real estate sector for all parties involved within the Emirate. To this end, all regula-

tions will be clearly defined and effectively communicated, as they always are. Following these regulatory changes designed to enhance investor confidence and weed out bad actors, these new laws will further reinforce the Emirate’s commitment to providing a transparent and secure investment environment.

EuroEstates’ CEO took the opportunity to ask about potential advancements in digital platforms for these services beyond what is already available. Mr. Khalifa, visibly proud, informed us that his team at RERA has been developing a new platform dedicated to online transactions for the past two years. This innovative platform is slated for launch in the upcoming months and represents a significant leap in the way transactions are handled. The online platform will empower all local brokers to list properties duly verified and approved by the Ras al Khaimah government’s back office team at the Land Department and the GIS system at the local municipality. It will also facilitate brokers to source mortgages online through institutions in partnership with RERA directly. Moreover, this platform will allow the entire sales and transfer process to be conducted online, from inception to completion, eliminating the need for physical visits to the Land Department or Registrar. All steps involved will be clearly delineated and easy to follow.

As our interview progressed, Mr. Khalifa shared another significant triumph for the Emirate’s real estate sector. Remarkably, Ras al Khaimah clinched the top spot in the 2021 Subnational Doing Business report, published by the World Bank Group, for ease of property registration. The report compared the Emirate with 190

economies worldwide. Apart from this impressive achievement, the comprehensive report also ranked Ras al Khaimah highly in various other comparative studies. As our comprehensive and insightful discussion neared its conclusion, Mr. Khalifa, in his trademark welcoming style, kindly guided us through a tour of the various offices, teams, and systems they employ. He thanked us for investing our time in understanding the ongoing developments. His warmth was genuine and sincere, made evident by his interactions with his team members, addressing each one by their name. We were then presented with a trophy in recognition of our shared ambitions at EuroEstates, a token we now cherish at our headquarters in Ras al Khaimah. With warm farewells, we parted ways, promising to reconvene in the future to discuss forthcoming developments.

We at EuroEstates, would like to take this opportunity to extend our heartfelt gratitude and best wishes to Mr. Khalifa, his dedicated teams at the Ras al Khaimah RERA, and the Ras al Khaimah Governmental Agencies. We greatly value this opportunity and eagerly look forward to the promising future that lies ahead. With its robust and stateof-the-art regulatory environment, the launch of groundbreaking projects, and an undeniable surge in tourism and hospitality sectors, Ras Al Khaimah presents a unique opportunity for investors seeking a high-growth market. With a vibrant array of projects in the pipeline, it’s clear that Ras Al Khaimah is truly at the precipice of a transformative era in real estate and hospitality. The future of this dynamic Emirate has never looked brighter!

EXPLORING HORIZONS

VENTURE INTO THE HEART OF RAS AL KHAIMAH, A HIDDEN GEM IN THE UAE, AS WE EXPLORE ITS RAPIDLY EVOLVING REAL ESTATE AND COMMERCIAL LANDSCAPES. THIS TRANQUIL AND ADVENTURE-RICH EMIRATE OFFERS MORE THAN MEETS THE EYE, WITH A ROBUST ECONOMIC SECTOR AND ENTICING FREEHOLD PROPERTY MARKET. DISCOVER THE COMPELLING FORCES PROPELLING ITS IMPRESSIVE GROWTH, AND LEARN WHY RAS AL KHAIMAH IS THE PROMISING INVESTMENT FRONTIER THAT GLOBAL INVESTORS SHOULDN’T MISS.

Ras Al Khaimah: The Hidden Gem of Investment Opportunities in the UAE

EXPLORING THE BLOSSOMING PROSPECTS OF FREEHOLD REAL ESTATE IN THE NORTHERNMOST EMIRATE

Ras Al Khaimah, an Emirate in the United Arab Emirates famed for its name, which means ‘Head of the Tent,’ is a hidden gem, a beautiful Emirate nestled in the country’s northernmost reaches. Though its global profile may be more subtle than the vibrant pulse of its southern neighbor, Dubai, this doesn’t diminish the Emirate’s unique allure and serenity. This city embraces a tranquil ambiance that stands in peace-

ful contrast to the energetic buzz of more bustling locales. It offers an intimate and original encounter for those who seek to explore a less traveled path in the UAE. The tranquil charm of Ras Al Khaimah is its quiet strength - a distinctive and refined elegance that awaits discovery by the more discerning, adventurous traveler. This magnificent Emirate is not simply lesser-known but a sophisticated choice awaiting its deserved moment in the global spotlight.

Ras Al Khaimah stretches along 64 kilometers of uninterrupted white sand beaches and dense mangroves of the Arabian Gulf, with the country’s highest mountains on one side and the subtropical sea on the other. Given its beautiful landscape and consistent subtropical climate, it’s no wonder the Emirate attracts staycationers, GCC nationals, adventure travelers, and millennials seeking an affordable yet quality beach holiday. As such, the Emirate is home to renowned hotel brands like Rixos, DoubleTree by Hilton, Hamptons, Mövenpick, Radisson, and Cove Rotana Beach Resort. As the CEO of Ras Al Khaimah’s Tourism Development Authority, Mr. Raki Phillips, indicates, the supply of hotel rooms will expand by about 12,800 in the next five years, demonstrating the Emirate’s prosperous future.

Ras Al Khaimah’s appeal extends far beyond its breathtaking beaches and acclaimed accommodations. Its stunning mountain ranges offer an adventurous allure. Ras Al Khaimah offers much more than luxurious lodgings. Its spectacular mountain ranges, crowned by the highest peak in the country, Jebel Jais,

host the world’s longest zipline, providing an adrenaline-filled journey over 2.80 kilometers at speeds of up to 120 km/h. For those seeking a tamer thrill, sled rides down the mountain offer a more comfortable rush.

Beyond its natural splendor and thrilling outdoor adventures, Ras Al Khaimah boasts a burgeoning commercial and industrial sector. In addition to tourism, Ras Al Khaimah has established itself as an industrial and commercial hub, bolstered by Commercial and Industrial Free Trade Zones (RAKEZ). With over 38,000 companies from around 100 different countries operating across 50 sectors, this industrialization and commercialization significantly contribute to the local economy and the organic growth of the real estate market.

In addition to its thriving commercial and industrial growth, Ras Al Khaimah presents exciting freehold real estate opportunities. These opportunities can be found across the city’s two distinct sections. We can divide the city into two distinct sections: the new and the old. Each area brings unique attributes, contributing to the rich tapestry of experiences that

Ras Al Khaimah offers. Stretching approximately 19 kilometers along the coastline, the new part of the city houses most of the properties ripe for freehold investment. Two gated residential communities and a mixeduse 5-star beach resort constitute this area. Adding a unique allure to the vibrant sector of Ras Al Khaimah, an artificial archipelago known as Al Marjan Island is also present. Comprising four islands, this feature truly enhances the charm of the city.

Ras Al Khaimah’s real estate market has seen an impressive ascent recently. The tangible proof lies in the notable increase in property valuations across these communities, which have surged by 23% to 54% from early 2021 to early 2023. As we look ahead, we project this growth trajectory to sustain its pace through 2026/2027. Now, what are the driving forces behind this remarkable upswing?

Firstly, the world-class infrastructure across the Emirates appeals to investors. Investors enjoy city planning, personal and property safety, accessible business practices for foreigners through a robust Free Trade Zone, diverse retail offerings, well-established B2B sectors across multiple industries, and clear regulations and laws. Ras Al Khaimah Economic Zone (RAKEZ) is at the heart of these benefits. This vibrant community, accommodating everyone from freelancers and startups to SMEs and industrial giants, is thriving in over 50 distinct industries. As a dynamic business and industrial hub in the UAE, RAKEZ is pivotal in delivering customizable solutions to both free and non-free zone enterprises.

Secondly, another significant factor enhancing the nation’s appeal has been the country’s efficient response to the recent COVID pandemic. In a time when most cities worldwide imposed strict lockdowns, the Emirates struck a balance between caution and maintaining the rhythm of daily life. This measured approach, combining safety with a semblance of normalcy, positioned the Emirates as a viable alternative for many, leading to a surge in the local demand for property.

Lastly, the announcement of the first in-

tegrated gaming resort in the GCC by the world-renowned Wynn Resorts from Las Vegas sparked excitement in Ras Al Khaimah’s property market. Marjan, RAK Hospitality Holding, and Wynn Resorts, a U.S.-listed international luxury resort developer and operator, have announced a multi-billion dollar integrated resort development on Al Marjan Island in Ras Al Khaimah. By 2026, developers aim to complete a luxurious development that will boast an upscale hotel with over 1,000 rooms. In addition, it will feature shopping venues, meeting and convention facilities, a spa, more than ten restaurants and lounges, a wide range of entertainment options, a gaming area, and other top-tier amenities.

The multi-purpose integrated resort by Wynn Resorts, a first in the MENA region, represents a significant investment in Ras Al Khaimah. The resort is poised to emerge as the crown jewel of RAK’s thriving hospitality industry, marking a notable instance of foreign direct investment in Ras Al Khaimah. As the grandest project in RAK’s flourishing hospitality in-

New Year’s Eve fireworks

Ras Al Khaimah’s famous, Guinness World Records

Jebel Jais: Ras Al Khaimah’s pride, Jebel Jais, is not only the highest peak in the UAE, but also hosts the world’s longest zipline, the Jebel Jais Flight. Daring visitors can zoom down at speeds up to 120 km/h on this 2.8 km-long zipline, experiencing breathtaking views and an adrenaline rush like no other.

Jebel Jais Via Ferrata: This adventure hub combines hiking, climbing, and ziplining for a unique mountain experience.

The Via Ferrata (Iron Path) consists of three ziplines and a climbing route, providing fun and excitement for adventurers.

Jebel Jais Sledding

Adventure: A unique attraction on Jebel Jais is the sledding adventure. Here, visitors can enjoy sledding down the slopes of the highest peak in the UAE, a truly unique and funfilled experience that is enjoyable for both children and adults.

Al Jazeera Al Hamra: This preserved

dustry, it promises to catalyze local economic growth, stimulate tourism, generate employment, and foster the proliferation of related sectors. Additionally, the resort will be crucial in Ras Al Khaimah’s ambitious aim of attracting 2.9 million visitors annually by 2025.

Given these compelling reasons, it’s clear why Ras Al Khaimah’s property market is experiencing a significant boom. This growth offers a unique opportunity for global investors. The city’s current growth cycle presents a remarkable opportunity for investors around the globe, providing a gateway to maximizing returns in a market brimming with exceptional prospects. To overlook this would not just be a mere oversight but a missed chance to partake in the flourishing future of this Emirate. Embracing this opportunity is not just an investment in a market but an investment in the promising potential of Ras Al Khaimah.

Here are the top 10 attractions you simply can’t miss:

traditional neighborhood offers a unique insight into the UAE’s history and heritage, with its coral-block houses and mosques.

Dhayah Fort: This 16th-century fort provides panoramic views of the surrounding farms, palm groves, and the sparkling sea. It stands as a testament to the emirate’s rich past.

Al Qawasim Corniche: This lovely promenade is perfect for a relaxing stroll, lined with parks, cafes, and eateries serving local and international cuisines.

National Museum of Ras

Al Khaimah: Housed in an 18th-century fort, this museum showcases the emirate’s rich history and culture with its collections of archaeological artifacts and ethnographic items.

Sheikh Zayed Mosque: This architectural marvel is the largest mosque in Ras Al Khaimah and is known for its beautiful Islamic design and serene ambiance.

Al Hisn Fort: A restored fortification now serving as a museum,offering insight into the history of the emirate.

Saqr Park: Ras Al Khaimah’s largest public park is a haven for relaxation and family fun. It’s a great spot to unwind amid lush greenery, a man-made lake, and playgrounds.

Beyond these, the emirate’s pristine beaches, lush mangrove forests, terracotta dunes, and the majestic Hajar mountains make it a veritable paradise for nature and adventure lovers. Whether you’re seeking adrenaline-fueled activities or are a history enthusiast, Ras Al Khaimah truly has something for everyone.

Popular Freehold Property Areas:

1. Al Hamra Village: This premium beachfront real estate and tourism precinct presents an alluring blend of luxurious residences and tourist-friendly amenities.

2. Mina Al Arab: This oceanfront community appeals to those desiring a home close to the sea, offering a serene living environment coupled with stunning seascapes.

3. Al Marjan Island: This man-made island boasts a mix of residential and commercial properties,

delivering a sophisticated urban lifestyle in a beachfront setting.

4. The Cove Rotana Resort: This renowned resort offers not just luxury accommodations, but also highend residential properties promising a resort-like living experience.

5. Dafan Al Nakheel: Situated closer to the city center, this neighborhood offers a blend of convenience and comfortable living, making it an attractive choice for city dwellers.

Discover the Crown Jewel of the Emirates Real Estate Market

ARE YOU READY TO EMBARK ON A VOYAGE OF DISCOVERY IN THE WORLD OF LUXURY REAL ESTATE? OUR VERY FIRST SPOTLIGHT SHINES ON A DAZZLING GEM: THE SANCTUARY VILLAS BY ELLINGTON. THIS, DEAR READER, IS WHERE DESIGN MEETS ASPIRATION, WHERE YOUR DREAM OF AN ULTIMATE LIVING EXPERIENCE MIGHT JUST BECOME REALITY. ARE YOU PREPARED TO BE ENTICED AND AMAZED? STAY WITH US, AND WE PROMISE TO MAKE THIS JOURNEY CAPTIVATING AND ENLIGHTENING.

ELLINGTON’S ‘THE SANCTUARY VILLAS’: REDEFINING LUXURY IN REAL ESTATE

As we unveil the inaugural edition of our inhouse real estate journal, we’ve meticulously researched the multitude of upcoming projects in the Emirates. Our mission? To identify the top three recommendations that span a diverse range of budgets, intended uses, types, sizes, investment returns, and locales. All while embodying the Goldilocks principle: relentlessly pursuing what is ‘Just right.’

A Testament to Luxury Living

Any savvy investor understands the significance of examining the developer behind a project before taking the plunge. This due diligence is crucial to avoid the harsh reality of high-flown promises falling short. Enter our first pick: THE SANCTUARY VILLAS by ELLINGTON. Since its inception in 2014, Ellington has gained a stellar reputation for its luxury projects. This boutique developer has made a name for itself by

crafting residences for those with a deep appreciation for design, from its fundamental principles to its minutest details. With a steadfast commitment to high standards, Ellington consistently compares itself with world-class developers who prioritize a customer-centric philosophy.

The Driving Force

Ellington’s success owes much to its integrated, passionate, and

vastly experienced team. With more than 40 designers and a host of other team members working in-house, communication is seamless, guaranteeing impeccable attention to detail on every project. At the helm of this team is a constellation of industry stalwarts. Among them is Robert D. Booth, Co-founder and Managing Director, a trailblazer who has been instrumental in leading some of the world’s most prominent projects across five continents. His transformative impact was particularly evident, as he played a pivotal role in the development of several iconic communities and the legendary Downtown Dubai project.

Where Luxury Meets Tranquility

With the backdrop of Ellington’s esteemed reputation set, let’s embark on a journey into one of their newest offerings - THE SANCTUARY VILLAS. Located in District 11 of MBR (Mohammed bin Rashid) City, this exclusive villa community captures the essence of luxury living, offering a blend of fashion, dining, and entertainment at Hartland Square and Hartland Boulevard. The Sanctuary represents a journey of self-exploration; the gated community offers a multisensory experience to its residents. From the moment you step in, the architectural design of the villas will

harmonize with your five senses, by evoking your emotive dimensions and establishing a deeper connection with the space.

The Sanctuary Villas community features 61 luxurious villas, each boasting 4, 5, and 6-bedroom options, enveloped in a secure, gated community. The villas overlook a serene blue lagoon, providing uninterrupted views of the Dubai skyline and the iconic Burj Khalifa. These four-to-six-bedroom homes are presented in four different styles with distinctive designs and options. Each contemporary villa is meticulously curated with its pool, rooftop terrace, and courtyard and is a short stroll away

The Oasis Villas

VISTA BY EUROESTATES

from a beautiful central lagoon. These villas are further grouped into three distinct sub-communities, offering a bespoke touch of boutique luxury. Each villa is a testament to Ellington’s meticulous design ethos. Every layout maximizes space and functionality, featuring seamlessly concealed kitchen appliances and expansive living areas. A distinguishing feature of each villa is the indoor, open-sky, zen garden, flooding living spaces with soft, natural light cascading down to the basement level.

To explore more, check availability, or schedule a consultation, visit our website at euroestates-properties.com.

As the world embraces the sharing economy, the short-term rental market, spearheaded by platforms like Airbnb, has grown exponentially. While many hosts strive for 100% occupancy to maximize their returns, others find a more balanced approach results in a sustainable, long-term business model. Today, we’ll delve into the strategic approach that some savvy hosts utilize to ensure profitability, sustainability, and improved guest experience.

Understanding the ShortTerm Rental Market

The Short-Term Rentals (STRs) market is a rapidly evolving and increasingly popular investment strategy that involves leasing out a property, or part of it, for a relatively brief period. This period could vary from a few days to a few weeks but typically is less than three months. This lucrative sector has witnessed exponential growth due to the rise of platforms like Airbnb that facilitate renting out properties for short stays, especially for vacations. But what is the secret behind

successful investing in this market, and how does it compare with other investment avenues?

At its core, the STR strategy thrives on constant demand and robust profit margins. Depending on the property’s location, it could enjoy year-long demand with regular bookings or seasonal demand, where most reservations occur during specific times of the year. However, like any other business venture, profitability is not guaranteed. Factors such as location, property presentation, seasonality, and offered amenities influence the income part of the equation.

To fully grasp the potential of an STR, one must delve into the market, assessing the guests’ preferences, what they value, and how much they’re willing to pay. Given the market’s competitive nature, STR owners must strive to offer excellent value for money to attract and retain guests. However, it’s essential to strike a balance between providing high-quality services and keeping costs down to maintain profitability.

Cost consideration is vital in the STR business. It goes beyond the initial purchase or set-up price of the property. Maintenance, compliance with local and government regulations, and the overall time commitment are significant cost factors often underestimated by investors. These costs can range from mandatory upkeep expenses like cleaning and housekeeping to more subjective ones like providing additional amenities or services for guests.

Efficiency in managing an STR also influences profitability. The time factor plays a crucial role in this

aspect. Investors have the option to manage the properties themselves or to outsource to professional property management teams. While the former can reduce costs, it increases the investor’s time commitment. Conversely, hiring professionals may increase the operating expense but save the owner significant time.

The STR market can yield high returns if navigated correctly, but it is also essential to keep an open mind about other investment avenues. To illustrate, let’s compare potential returns from an STR investment with long-term rentals, the S&P 500 index, and bank interest rates using a hypothetical property valued at $100,000.

Assuming an average rental of $75 per night, a 50% occupancy rate, and property management fees of 35%, the annual income from the STR would be approximately $8,872 or 8.87% of the investment. A long-term rental for the same property could yield around $4,675 or 4.68%, the S&P 500 could provide about a 10.50% return, and a bank interest rate of 2.5% would generate $2,500 annually.

This exercise underscores the importance of diligence and thorough research before diving into any investment, including the STR market. Adjusting factors such as occupancy rates, nightly rates, or management costs can significantly alter the venture’s profitability.

In conclusion, while STRs can potentially yield higher returns compared

to traditional long-term rentals, they also demand significant effort and strategic management. As an investor, it’s crucial to understand your potential income, associated costs, and the necessary time commitment before venturing into the STR market. Above all, it is essential to keep an open mind, compare your STR potential with other investments, and be prepared to pivot if the situation demands.

Debunking the 100% Occupancy Rate Myth

When it comes to short-term rentals, the equation for profit is more complex than it might initially seem. A common misconception is that higher occupancy always equals higher profits. Many novice hosts, aiming to keep their rental spaces occupied at all times, may lower their rates to ensure steady bookings. However, many experienced hosts have realized there are better strategies than this. Instead, they aim for a balanced occupancy rate of around 7075%, treating this percentage as their ideal 100%. The reasoning behind this approach lies in the balance between supply, demand, and pricing.

The concept is simple: if your rental is booked 100% of the time, your rates might be too low. Yes, you have constant occupancy, but at the cost of potentially leaving money on the table with each booking. Setting your prices too low could undersell your property and avoid potential revenue.

Finding the Sweet Spot

Instead, successful hosts carefully adjust their pricing strategy to avoid being the lowest-cost provider. These hosts understand that it’s not only about how often their property is rented but also about how much income each rental brings in. This means they might not always have full occupancy, but when their properties are rented, they earn a higher return.

This balanced approach maximizes revenue and reduces wear and tear on the property. Consistently high occupancy can accelerate the need for maintenance and replacements, adding unexpected costs that can quickly eat into profits. A slightly lower occupancy rate can help ensure the property remains in excellent condition for longer, reducing these costs.

This strategy has its risks, as it depends on a solid understanding of the market, the competition, and the unique selling points of your property. It also requires constant vigilance, as market conditions can change quickly, impacting occupancy rates and expected revenue.

Moreover, hosts must be attuned to fluctuations in seasonal demand. During peak seasons, when demand is high, prices can be increased, maximizing profits. In contrast, during off-peak times, a moderate price decrease may be needed to maintain bookings, albeit at a slightly lower profit margin.

In essence, the secret to successful short-term rental investing is not simply achieving high occupancy but striking the right balance between occupancy and pricing. This approach ensures a consistent, sustainable income and, more importantly, a higher overall return on investment.

Adopting this strategy clearly demonstrates the old adage “qual-

ity over quantity.” While full occupancy may seem like the ultimate goal, experienced hosts know that the quality of bookings, in terms of revenue generated, is equally, if not more, important.

Minimizing Wear and Tear

Operating at lower occupancy rates has a crucial, often overlooked advantage: minimizing property wear and tear. A fully occupied property involves more maintenance concerns, from plumbing to carpet upkeep.

about their guests. This approach attracts a wholistic and optimal mix between occupancy, maintenance, and profit considerationsthe strategic trifecta underpinning success in the short-term rental market over time. This leads to a better hosting experience and often results in higher-quality reviews and ratings on Airbnb.

The Long-Term View

Remember, real estate is a marathon, not a sprint. While the immediate earnings on Airbnb might be enticing, it’s crucial to consider

Maintaining and Improving Properties

Operational sustainability also calls for necessary maintenance, repairs, and improvements. A lower occupancy rate provides slack time to handle these tasks in-between guests’ stays. This approach ensures that properties remain appealing, which enhances the guest experience.

Attracting the Right Guests

A premium pricing strategy allows hosts to be more selective

the long game. As a property owner, planning to manage these rentals over the long term demands a sustainable business model. Balancing occupancy, maintenance, and profit is the strategic trifecta underpinning success in the shortterm rental market over time.

This approach may only be for some hosts, but this might be the way forward for those looking for a sustainable and profitable business model in the Airbnb market. The balance of a business that can endure the test of time while providing an outstanding experience for guests.

EDGE

The Must-Have Investment:

Understanding Home Insurance in the UAE

THE ALLURE OF HOMEOWNERSHIP EXTENDS FAR BEYOND JUST OWNING A PROPERTY; IT’S ABOUT CREATING A SAFE HAVEN FOR YOU AND YOUR LOVED ONES. YET, MANY OVERLOOK AN ESSENTIAL ASPECT THAT ASSURES THIS SAFETY - HOME INSURANCE. WHILE NOT ALWAYS MANDATORY IN THE UAE, HOME INSURANCE EMERGES AS A NON-NEGOTIABLE INVESTMENT FOR EVERY PROPERTY OWNER. FROM OFFERING FINANCIAL PROTECTION AGAINST UNEXPECTED DAMAGES TO SAFEGUARDING PRECIOUS BELONGINGS, A ROBUST HOME INSURANCE POLICY IS AN INVISIBLE SHIELD THAT EVERY HOMEOWNER NEEDS. LET’S DELVE INTO WHY THIS SO-CALLED ‘NICE-TO-HAVE’ IS ACTUALLY A ‘MUSTHAVE’ IN THE WORLD OF HOMEOWNERSHIP.

SECURING YOUR NEST: THE IMPORTANCE OF HOME INSURANCE IN THE UAE

As homeowners, we all value the safety and security of our properties. But how well are we safeguarding our homes and treasured belongings? While home insurance isn’t always mandatory in the UAE, there are certain instances where it is, and either way, it’s a crucial investment.

Home insurance serves as a shield, protecting your property and its contents from unforeseen damages or losses. Imagine a fire outbreak or an unfortunate burglary; without insurance, the cost

of rebuilding or replacing damaged items rests entirely on the homeowner’s shoulders. These can mount up to eye-watering sums, making the relatively small cost of insurance a worthy investment for peace of mind.

Who Needs Home Insurance? Everyone. Whether you’re a homeowner, a tenant, or even a professional property operator. In fact, in some instances, having home insurance is mandatory. For example, professional holiday home operators are often required to show proof of property insurance of the homeowners. This un-

derscores the important role that insurance plays in mitigating risk and protecting financial interests.

Home insurance primarily breaks down into two types: building and contents insurance. Building insurance is mandatory when applying for a mortgage and, as the name suggests, covers the physical structure of your home. In contrast, contents insurance is voluntary and provides coverage for your personal possessions inside the home.

From designer furniture and kitchen appliances to personal items like watches, jewelry, and

electronics, contents insurance has your back. It protects against unforeseen events like fire, explosions, and even natural disasters like earthquakes.

Moreover, it offers liability coverage, protecting you against accidental damages you might cause to a third party’s property or in case someone gets injured while on your property.

Despite the widespread belief that home insurance is a luxury only a few can afford, it is surprisingly affordable. The premium you’ll pay depends on various fac-

tors, like the value and location of your property, the value of the contents, and the type of coverage you opt for. Keep in mind the cost of a policy is minor compared to the peace of mind it offers and the financial security it provides in case of an unfortunate event.

There are numerous insurance portals in the UAE that can help you compare the best options available in the market. Fill out information about your home and its contents to generate a quote. For more personalized coverage, consider seeking the advice of an insurance broker.

Remember to read your policy to understand exactly what’s covered thoroughly. Update your possessions’ inventory regularly and check your insurer’s limits on how long a property can be left unoccupied, particularly if you travel often.

When safeguarding your home, it’s always better to be safe than sorry. Home insurance, especially contents insurance, is not just a ‘nice-to-have’ but a ‘must-have.’ Investing in a policy today can save you from significant financial consequences tomorrow. So, don’t delay; protect your nest egg now.

Understanding Property Insurance versus Home Contents Insurance in the UAE

For homeowners in the UAE, understanding the difference between property insurance and home contents insurance is crucial. As both offer distinct coverage, knowing what each policy includes can help homeowners protect their most valuable investment. Here’s a breakdown of these two types of insurance to help you navigate the often complex world of home insurance in the UAE.

Think of property insurance

as a safety blanket for the physical structure of your home, be it a villa or an apartment. This insurance covers the bricks and mortar of your property, including walls, roofs, and foundations. It’s there to safeguard you from the financial burden that can follow from damages caused by a plethora of unexpected occurrences.

From devastating natural disasters such as floods, earthquakes, and storms to other unexpected calamities like fires or theft, property insurance has you covered. Notably, for villa owners in the UAE, a comprehensive property insurance policy should provide coverage for both the ex-

terior and interior of the building. While property insurance focuses on the structure, home contents insurance, as the name implies, ensures the safety of everything inside your home. This type of insurance is all about protecting the contents of your home, from appliances and furniture to personal possessions and valuables.

In the unfortunate event of a fire or theft, home contents insurance can replace or repair the damaged or stolen items. Importantly, this includes not only the big-ticket items like appliances and furniture but also smaller yet equally valuable personal possessions such as jewelry and electronics.

The Crucial Differences

In essence, the key difference between property insurance and home contents insurance lies in what they cover. Property insurance protects the actual building and structure of your home, whereas home contents insurance covers everything inside it. This means, as a homeowner, you’re advised to consider both types of insurance to ensure full cover -

age of your property and its contents. For complete protection, homeowners should think about combining property and home contents insurance. This creates a comprehensive safety net for both the structure of the property and its contents, offering peace of mind knowing that you’re covered against a wide array of unforeseen events.

Your home is likely to be your most significant financial investment. As such, it makes sense to protect it adequately. Understanding the difference between property insurance and home contents insurance can ensure you have the necessary coverage for your specific needs. By investing in both types of insurance, you can sleep soundly knowing you’re protected against the unexpected.

Remember, when choosing your coverage, always seek advice from trusted insurance professionals who can guide you in selecting the most suitable options for your circumstances and needs. With the right insurance in place, you can enjoy your beautiful home in the UAE, safe in the knowledge that you’re well-protected.

IMAGINE A CITY THAT SEAMLESSLY BLENDS VISIONARY ARCHITECTURE, THRIVING COMMERCE, AND A DYNAMIC GLOBAL MARKETPLACE.

WELCOME TO DUBAI, WHERE THE REAL ESTATE MARKET HAS BECOME A BEACON OF PROMISE FOR INVESTORS WORLDWIDE. WITH PROGRESSIVE FOREIGN OWNERSHIP LAWS, HIGH RETURN ON INVESTMENT, WORLDCLASS INFRASTRUCTURE, AND A COMPREHENSIVE REGULATORY ENVIRONMENT, DUBAI STANDS AS A PREMIER DESTINATION FOR OFFPLAN PROPERTY INVESTMENTS.

euroestates-properties.com

Dubai has emerged as a hotspot for international real estate investment, and a combination of factors contribute to this status. Let's delve into these aspects that make Dubai's real estate market attractive for global investors.

Foreign Ownership Laws: In many regions, foreign ownership of property can be complicated or entirely off-limits. However, Dubai has progressive foreign ownership laws, allowing non-citizens to own freehold property in specific areas. These provisions draw investors from across the globe.

High return on investment: Dubai consistently offers strong returns on investment, outperforming many major cities worldwide. Rental yields in Dubai can be significantly higher than global averages, and the potential for capital appreciation is also vital due to the city's continual development and growth.

World-Class infrastructure: Dubai is renowned for its ultra-modern infrastructure, boasting spectacular architectural feats, world-class airports, efficient public transport, and quality amenities. It is a city designed for future growth, continually investing in infrastructure to maintain its appeal.

Robust registration system: The Dubai Land Department (DLD) has streamlined property registration, making it easier and more efficient for investors. The DLD has also kept registration fees relatively low, removing another potential barrier for investors.

Regulatory strong environment: The DLD and Real Estate Regulatory Agency (RERA) have implemented robust regulations to protect investors. These include strict rules for developers, using escrow accounts for off-plan properties, the provision of title deeds to prove ownership, and establishing a rental

disputes resolution center.

Political stability and safety: Dubai is one of the safest cities globally, with a meager crime rate and strong political stability. This stability provides a secure environment for investment.

Strategic location: Dubai's location makes it a gateway between East and West, contributing to its global business and tourism hub appeal.

Diverse Economy: Dubai's economy is not solely reliant on oil but is diversified across sectors like tourism, logistics, and finance, reducing economic risk for investors.

Expo 2020: Hosting Expo 2020 has also enhanced Dubai's visibility on the global stage, potentially leading to increased demand for real estate.

With these strong fundamentals, Dubai continues to cement its position as a premier destination for real estate investment, attracting investors worldwide with its vibrant, growth-oriented, and secure property market.

Unveiling the Path to Your Ideal Real Estate Investment

As the property market continues to evolve, prospective buyers are faced with a plethora of options. Among the choices, two stand out: off-plan and secondary market properties. Both options come with their unique sets of advantages and potential risks. This article will explore these two routes in detail, highlighting the essential factors to consider when deciding your next investment.

Off-Plan Properties: Promising Investment

Off-plan properties refer to those yet to be built or under construction. A prime attraction for buying off-plan is the potential for capital appreciation. When you purchase an off-plan property, you often secure it at a price lower than the expected market value at completion. Developers also sweeten the deal with discounts and flexible payment plans. However, off-plan properties are not without risks. Construction delays could lead to postponed completion dates. Market fluctuations can also affect the final value of your property. Moreover, changes in developer plans or surrounding area developments can cause unexpected property value variations.

When buying off-plan, crucial factors include location, developer reputation, and payment plans. A desirable location with the potential for capital appreciation is vital. So is the Developer's track record of delivering quality projects on time.

Protection Through Legislation

In real estate, the reliability of legal safeguards is a crucial determinant of a region's investment appeal. In Dubai, an oasis of high-yield investment opportunities, the robust legislative framework has been instrumental in establishing the Emirate as a premier real estate hub.

A significant hallmark of Dubai's real estate legislation is Law No. (13) of 2008, along with its amendments and implementing bylaws, provides a comprehensive guide for off-plan real estate sales—this law, complemented by Law No. (8) of 2007 on Escrow Accounts is a testament to Dubai's commitment to supporting and stimulating the real estate sector, driving investment while protecting stakeholders' rights.

Secondary Market Properties: Immediate Occupancy and Predictability

For those who prefer a property ready for immediate occupancy, the secondary market is the place to look. Here, you're buying from a previous owner, and the property is ready for immediate occupancy.

However, secondary market properties come with their own set of risks. The property's condition can vary, so a thorough inspection is necessary to avoid the trap of significant repair costs. Market fluctuations can also impact the value of secondary market properties. When buying from the secondary market, key considerations should be the property's condition, location, and price. Ensure the property is in good condition and does not require significant repairs. The property's location should be in a desirable area with potential capital appreciation. The price should align with the market value of similar properties in the area.

Making Informed Choices for Long-Term Real Estate Success

Ultimately, the decision between off-plan and secondary market properties depends on your needs, risk tolerance, and financial capabilities. Both routes offer potential advantages but require careful consideration and due diligence.

Remember, property investment is not a decision to be made lightly. It involves significant financial commitment and has long-term consequences. Hence, a well-informed decision, backed by meticulous research and an understanding of the market dynamics, will go a long way in making your property investment journey a success.

Securing Your Investment

Investor protection is a vital aspect of the real estate industry. In regions like Dubai, the Land Department (DLD) ensures transparency and security for real estate investors, and the approach is often multifold. Understanding the legal aspects of

real estate investment in Dubai is crucial to make well-informed decisions and succeed in this vibrant market. Here are some of the ways real estate investors are protected:

Regulation and supervision: In Dubai, entities like the DLD and Real Estate Regulatory Agency (RERA) are tasked with regulating the real estate market. These agencies impose strict rules and regulations on developers and agents to protect buyers. For example, developers must have a 20% bank guarantee before construction.

Escrow accounts: The DLD introduced escrow accounts to protect buyers' money. After reaching construction milestones, the Developer can only withdraw funds from this account, ensuring they use the money solely for the project's development.

Off-plan sale regulations : DLD's Law No. 8 of 2007, regarding guarantees related to real estate developments, stipulates that developers can only sell off-plan units if they obtain RERA's approval. Also, all funds from off-plan sales must be deposited into an escrow account.

Property Title Deeds: DLD issues title deeds to property owners. The title deed is a legal document proving ownership rights over the property. It ensures the property is registered in the buyer's name, providing legal protection.

Oqoodi registration: All off-plan purchases must be registered in the interim real estate register (Oqoodi) at DLD. This ensures the buyer's rights until the property is completed and the title deed is issued.

Dispute resolution: DLD established the Rental Disputes Settlement Centre (RDSC) to resolve rental disputes between landlords and tenants quickly and efficiently.

Strata Law : For those buying apartments, introducing Strata Law helps protect their rights. This law allows individual ownership of apartments or offices in a building and joint ownership of common areas.

Transparency: Lastly, DLD's commitment to transparency ensures all property transactions are transparent and above board. This transparency is crucial in boosting investor confidence and encouraging further investment.

Through these measures, the DLD has not only been successful in attracting a diverse range of nationalities to invest in the Dubai real estate sector but also in maintaining a secure and stable investment environment.

We at EuroEstates Properties are committed to providing expert guidance and support throughout your investment journey. Whether you're looking to delve deeper into the specifics of foreign ownership laws, need clarity on the property registration process, or seek advice on identifying high ROI opportunities, our experienced professionals are ready to assist. Remember, real estate investment doesn't have to be a daunting process. You can navigate the market effectively and reap significant rewards with the proper support and guidance. We at EuroEstates Properties are eager to help you achieve your investment goals in Dubai. Don't hesitate to get in touch with us for more detailed investment information on Dubai's real estate market. We wish you every success in your real estate endeavors and look forward to partnering with you on this exciting journey.

Key Real Estate Laws

A robust set of real estate laws and regulations governs property investment in Dubai, protecting investors' interests. Each law is critical in maintaining transparency and protecting investor rights.Here's a summary of the key real estate laws in the Emirate of Dubai:

Regulation No. 3 of 2006: This regulation delineates the areas where foreign nationals (non-UAE/ GCC nationals) can own freehold lands, property, and other real property rights, such as usufruct and longterm lease rights, up to 99 years ("Designated Areas"). Additional regulations identify more Designated Areas for foreign nationals' freehold ownership.

Law No. 8 of 2007 : This law concerns escrow accounts for real estate developments in Dubai. It requires developers planning to sell off-plan units in a real estate development project to open a separate escrow account for the project. The account is to be used exclusively for the construction of the project and settlement of the project financing payments. The amounts deposited into the escrow account are dedicated solely to the construction of the actual property project. In essence, these funds are immune to any claims by the Developer's creditors, thereby ensuring that the purchasers' funds are not misappropriated.

Law No. 13 of 2008 (amended by Law No. 19 of 2017 and Article 11): This law mandates the registration of all disposals relating to off-plan real estate units, including the sale, long-term lease, Musalaha, mortgage, and other disposals on the Interim Real Estate Register maintained by the DLD. If such disposals are not registered, they will be considered null and void. Paragraph (b) of Article (11) stipulates that where the Real Property project is canceled according to a reasoned decision of RERA, the Developer must refund all payments made by purchasers following the procedures and rules stipulated in Law No. (8) of 2007 Concerning Escrow Accounts for Real Property Development in the Emirate of Dubai.

Executive Council Resolution No. 6 of 2010: This resolution regulates the sale of real estate off-plan, requiring developers to obtain approvals from the competent authorities before launching a project and before marketing and selling off-plan real estate units. It also covers issues like area measurement discrepancies, developer responsibilities, and termination events due to Developer or buyer default.

Law No. 27 of 2007: This law regulates the ownership of jointly-owned properties (e.g., towers, residential and commercial complexes), outlining the rights and obligations of owners. It provides for the establishment of owners' associations for managing common areas. It holds developers liable for repairing structural defects for ten years and minor defects for one year from obtaining the building completion certificate.

The Safe Haven: Investing in Dubai Dubai: a desert transformed into a city of unparalleled luxury, a hub of bustling commerce, and a dazzling array of architectural masterpieces. In the world of real estate, the Emirate shines brighter than a mirage, holding the promise of lucrative investments. And it's no illusion: the city has established itself as a highly coveted destination for real estate investment. As an investment hub, Dubai has built a robust real estate market based

on strong fundamentals, consistently reinforcing its position as a world-class destination. With less stringent foreign ownership laws, strong return on investment, excellent infrastructure, and a robust registration system featuring low fees, the city's allure is unquestionable. But what sets Dubai apart is its comprehensive regulatory environment, designed to shield real estate investments and ensure ownership protection.

Trust, Transparency, and Protection

At the core of Dubai's investment environment is transparency, a value deeply ingrained in its policies. This commitment to transparency and the city's inherent stability has attracted investors from over 200 nations, resulting in a diverse and dynamic real estate sector.

Real estate investment

in Dubai is governed by a well-defined set of laws and regulations, ensuring investors' interests are protected. They range from regulations identifying areas where nonUAE nationals may own real estate to laws on escrow accounts for real estate developments and a mandatory requirement to register all disposals relating to off-plan real estate units. In addition, the Dubai government has enacted laws governing the

ownership of jointly-owned properties and set out provisions for common areas in such properties. Developers are held liable for the repair of structural defects for a decade and minor defects for a year from the date of obtaining the certificate of building completion. Understanding the legal aspects of real estate investment in Dubai is crucial to making well-informed decisions and succeeding in

this vibrant market. At EuroEstates Properties, we are committed to providing expert guidance and support throughout your investment journey.

Whether you're looking to delve deeper into the specifics of foreign ownership laws, need clarity on the property registration process, or seek advice on identifying high ROI opportunities, our experienced professionals are ready to assist.

UAE Residence Property Investor Program

GOLDEN VISA - UNLOCK GLOBAL ACCESS, MITIGATE RISK, AND CREATE OPPORTUNITY WITH PROPERTY INVESTMENT VISA

ried children of any age can also be included without additional investment. This makes the UAE a favorable destination for those seeking a second residency or citizenship, whether for its favorable tax regime, superior healthcare system, or other appealing factors.

This article will explore why obtaining residency through real estate investment is an exciting and attractive option for many property

6. Visa-Free Travel

7. Passive Income Generation

8. Investment Diversification

9. Tax Benefits

10. No Language Requirement

Stability and Security

One of the primary reasons why residency through real estate investment is appealing is the stability and security it offers. By investing in a property, individuals gain a tangible asset that provides a place to call home or profit on capital appreciation and offers a sense of permanence. Owning real estate in a foreign country instills a feeling of security, knowing you have a place to reside and call your own.

Long-Term Residency

Residency through real estate investment often comes with the advantage of long-term residence. Unlike standard visas that require frequent renewals every two or three years, along with ongoing documentation, obtaining longterm residency through real estate investment can provide a more enduring solution. Such an arrangement allows individuals and their families to settle and integrate into the local community without worrying about visa limitations.

Business and Investment Opportunities

Investing in real estate for residency also opens up business and investment opportunities for entrepreneurs and investors. By becoming a resident, individuals can take advantage of local business environments, establish new ventures, and benefit from economic growth and stability. The UAE is a business-friendly country, and investors who obtain a visa through real estate investment can take advantage of the business growth opportunities available.

Access to World-Class Education and Healthcare

Another significant benefit of obtaining residency through real estate investment is access to high-quality education and healthcare systems. In the UAE, residents can access excellent schools, universities, and healthcare facilities. Such amenities provide peace of mind and create an environment conducive to personal and professional growth. The UAE has some of the best healthcare in the world, and investors who obtain a visa through real estate investment can access this healthcare.

Lifestyle and Quality of Life

Residency through real estate investment often comes with a host of lifestyle benefits. The UAE boasts vibrant cultures and a high standard of living. By becoming a resident, individuals can immerse themselves in a new way of life, enjoying the local cuisine, traditions, and recreational activities. This can lead to a more fulfilling and enriched life experience.

Visa-Free Travel

Residency by investment programs in some countries offer investors the privilege of visa-free travel to other countries, which is a significant advantage for those who frequently travel for business or pleasure. The UAE has visa-free or visa-on-arrival agreements with over 180 countries, which means that investors who obtain a visa through real estate investment in the UAE can travel visa-free or with a visa on arrival to many countries worldwide. Of course, the specific visa-free or visa-on-arrival agreements available to investors

will vary depending on their country of origin. It is essential to do your research to learn more about the specific visa-free or visa-on-arrival agreements available to you.

Passive Income Generation

Real estate can be a profitable investment, and some people invest in real estate in a foreign country to generate income. They can do this through long-term, shortterm, or property flipping. If you invest in a property located in a desirable area, you are more likely to be able to find tenants and generate passive income.

Portfolio Diversification

A tangible asset like real estate can provide a physical foundation for your investment portfolio, as it is not correlated with the stock market.

Tax Benefits

The UAE offers several tax benefits to investors who purchase real estate in the country. There is no personal income tax in the UAE, so investors do not have to pay taxes. Investors who buy residential real estate in the UAE are exempt from VAT.

No Language Requirement

The UAE does not require investors who seek long-term residency through property investment to know Arabic. Investors do not have to learn the language to live and work in the country. The UAE is a business-friendly country where many businesses operate in English. Therefore, investors who do not speak Arabic can still communicate with business partners and clients.

World’s Most Reputable Residence-byInvestment Programs

The UAE has clinched the top spot in the Global Residence Program Index for Quality of Life, Tax Benefits, and Total Costs.

The index is a significant part of the annual Investment Migration Programs report, which gauges the relative value of the world’s most esteemed residence-by-investment programs.

Economists from top universities, country risk specialists, and independent immigration and citizenship lawyers collaborate to revise the Henley Residence Program Index each year.

Based on the selected criteria of Quality of Life, Tax Benefits, and Total

Costs, the ranking in the Global Residence Program Index is as follows: The UAE stands first, followed by Thailand in second place. Malta, Malaysia, and Austria share the third position. Monaco, Portugal, Italy, Cyprus, and Greece hold the fourth rank jointly. Hong Kong is in the fifth spot, while Singapore, the UK, and Switzerland come in sixth. Mauritius, Latvia, Panama, Canada, and Australia share the seventh position. Ireland, Luxembourg, South Korea, and Spain rank eighth, Jersey is in ninth place, and New Zealand secures the tenth spot. The United States ranks eleventh on the list.

Source: The Henley Global Residence Index; published on 28 February 2023

The Path to a 2-Year or 10-Year Property Investor Visa in Dubai

THE UNITED ARAB EMIRATES (UAE) OFFERS AN EXCITING OPPORTUNITY FOR PROPERTY INVESTORS TO SECURE A LONG-TERM RESIDENCY VISA THROUGH THE PROPERTY INVESTOR VISA PROGRAM. WHETHER YOU ASPIRE TO A 2-YEAR INVESTOR PROPERTY VISA OR A 10-YEAR GOLDEN VISA, THIS GUIDE WILL EXPLORE BOTH OPTIONS’ BENEFITS, REQUIREMENTS, AND APPLICATION PROCESS. DISCOVER HOW INVESTING IN DUBAI’S REAL ESTATE MARKET CAN UNLOCK A WORLD OF OPPORTUNITIES FOR RESIDENCY AND BUSINESS PROSPECTS.

The 2-Year Property Investor Visa

Dubai's 2-Year Property Investor Visa provides investors a valuable opportunity to reside in the Emirate for an extended period. To be eligible for this visa, you must meet the following requirements:

Property Ownership: To demonstrate your commitment to the local real estate market, you

must own a property in Dubai with a minimum value of AED 750,000.

Mortgage Considerations:

Should your property be mortgaged, you must secure a No Objection Certificate (NOC) from the bank or developer and provide the property mortgage statement. These documents should specify the total amount paid and the remaining amount. If the developer

mortgages the property, you need a copy of the initial sale certificate. If the property is completed and not under construction, a payment statement with proof of payment for 50% of the entire property value, or AED 375,000, is required.

Joint Ownership: If you and your spouse jointly own the property, the shares must be equal. However, if the shares are

unequal, the primary visa holder will be the party with the highest ownership percentage.

To complete your application for the 2-Year Investor Property Visa, you will need to submit the following:

Title Deed: The title deed for your property in Dubai should state a value of at least AED 750,000. Please note that this requirement is specific to Dubai, and other emirates

and free zones may have different criteria.

Passport Copy: You must provide a clear passport copy for the application process. Ensure your passport has more than six months of validity from the date of application.

Old Emirates ID (if applicable): If you have previously held an Emirates ID, provide a copy as part of your application.

Applicant Digital Photo: You must provide a high-quality digital photo that meets the Federal Authority for Identity and Citizenship specifications.

Health Insurance: Health insurance coverage from any insurance company in the UAE is mandatory. It is in place to ensure that you and your family can access healthcare services during your stay in the UAE.

Certificate of Good Conduct and Behavior: This certificate is required to be addressed to the Dubai Land Department. Residents can obtain this certificate through the Dubai Police mobile app, while applicants without an Emirates ID should visit police service centers during working hours to take fingerprints (Al Qusais Police Station or Ports Police Station). If the applicant was from outside the country and

does not carry an Emirates ID, he/she should attach fingerprints card after being certified by the UAE Embassy.

National ID (specific countries): Applicants from certain countries, including Iran, Pakistan, Iraq, Libya, and Afghanistan, must provide their national ID as part of the application process.

The 10-Year Golden Visa

You are required to make a property investment of at least AED 2 million. Once you have fulfilled this requirement, you can apply for a 10-year Golden Visa.

DUBAI’S 10-YEAR GOLDEN VISA REVOLUTIONIZES THE OPPORTUNITIES FOR INVESTORS AIMING FOR LONG-TERM RESIDENCY AND STABILITY IN THE UAE. UNLIKE STANDARD UAE VISAS, WHICH GET AUTOMATICALLY CANCELED IF THE HOLDER STAYS OUTSIDE THE COUNTRY FOR OVER 180 DAYS, THE GOLDEN RESIDENCE VISAS CARRY A VALIDITY OF TEN YEARS, ARE RENEWABLE, AND REMAIN UNAFFECTED BY THE HOLDER’S RESIDENCE OUTSIDE THE UAE. NO RESIDENCY REQUIREMENT IS ASSOCIATED WITH THESE VISAS, GRANTING YOU THE FLEXIBILITY TO STAY OUTSIDE THE UAE INDEFINITELY WITHOUT RISKING VISA INVALIDATION.

One of the key benefits of obtaining a UAE property investment visa is the freedom and flexibility it offers regarding residency. This visa grants you the privilege to live in any of the seven emirates in the UAE.

Whether you prefer the dynamic city life of Dubai and Abu Dhabi or the more relaxed pace of Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah, or Fujairah, the choice is entirely yours. This flexibility greatly enhances the

In the case of a mortgaged property, you must obtain a letter of authorization from the mortgage bank and provide documentation of the total amount paid, showing a minimum of 2 million AED paid on the mortgage.

Individuals must be physically present within the UAE to be eligible for the Golden Visa.

For married couples to proceed with the application for the property investor visa, they can participate in property ownership and apply jointly. However, they must meet the following conditions:

Marriage Certificate: Married couples must provide a marriage certificate attested by the UAE Ministry of Foreign Affairs (MOFA) and legally translated into Arabic.

Equal Property Share:

In the case of joint property owner-

investment appeal, allowing investors to fully immerse themselves in the rich cultural diversity and vibrant lifestyle the UAE offers.

The visa information in this article reflects the status as valid in June 2023. Please note that visa regulations and requirements can change over time, so it is essential to consult the relevant authorities for the most up-to-date information when applying for a property investor visa.

ship between husband and wife, the property shares must be equal. Both parties should hold an equal stake in property ownership to be eligible for the property investor visa.

Primary Visa Holder:

If the shares are not equal between the spouses, the highest shareholder will be considered the primary visa holder and can apply for the property investor visa. The primary visa holder can then sponsor the other spouse as a dependent.

To apply for a 10-Year Golden Visa in the UAE, you will need to gather the following required documents:

1. Title Deed: In Dubai, the title deed for the property must state a value of at least 2 million AED. It is important to note that this requirement is specific to Dubai, and other emirates may have different criteria.

2. Passport Copy: A clear passport

copy is required for the application process. Ensure that your passport is valid for more than six months from the date of application.

3. Emirates ID (if applicable): If you have previously held an Emirates ID, you should provide a copy as part of your application.

4. Applicant Digital Photo: You must provide a high-quality digital photo that adheres to the authority specifications.

5. National ID (specific countries): Applicants from certain countries, including Iran, Pakistan, Iraq, Libya, and Afghanistan, must provide their national IDs.

6. Health Insurance: Health insurance coverage from any insurance company in the UAE is mandatory, as it ensures access to healthcare services during your stay in the UAE.

Are You Ready to Buy a Property in the UAE? A Comprehensive Checklist

DECIDING TO INVEST IN THE CAPTIVATING ARCHITECTURE AND VIBRANT LIFESTYLE OF THE UNITED ARAB EMIRATES (UAE) IS UNDENIABLY AN EXHILARATING VENTURE. HOWEVER, SUCH AN INVESTMENT NECESSITATES METICULOUS PLANNING AND CAREFUL CONSIDERATION. TO SIMPLIFY YOUR JOURNEY, WE HAVE CURATED A COMPREHENSIVE CHECKLIST TO GUIDE YOUR PROPERTY ACQUISITION PROCESS.

1. Choose Your Property Type

Your initial decision involves identifying what type of property best suits your investment goals:

Off-Plan Properties:

These refer to properties that are currently under construction. Investing in off-plan properties during their initial construction phases can deliver high returns, as these properties are typically priced lower at this stage.

Ready, Secondary Market Properties:

These are completed properties ready for immediate occupancy. The primary advantage is certainty – what you see is what you get. Keep in mind that the property might be tenanted. When buying

a tenanted property, the tenancy agreement remains in place, and the new owner inherits all rights and obligations from the existing tenancy contract. To ensure its legal validity, this contract should be officially attested as ‘Ejari’ in Dubai, which translates to ‘My Rent’ in Arabic. A property’s tenant and landlord are responsible for registering Ejari once the tenancy contract has been signed. However, the process is generally completed by the tenant, who also bears the cost.

2. Prepare For the Down Payment

A minimum down payment is typically required for property purchases, often amounting to 20% of the net sales price. This substantial sum necessitates careful financial planning and preparation. Don’t

overlook associated expenses, such as agency fees and Dubai Land Department (DLD) transfer fees, which generally amount to about 4% of the net property price.

3. Get a Pre-Approval for a Mortgage

A mortgage is likely necessary unless you plan to buy the property outright. UAE banks cater to both residents and non-residents with competitive mortgage offerings. The loan-to-value ratio can be as high as 80% of the net sales price for residents. For non-residents, it caps at 60%. By securing a mortgage pre-approval before you embark on your property search, you not only define your budget but also position yourself as an attractive buyer.

NAVIGATING THE PATH TO YOUR DREAM INVESTMENT IN THE UAE

4. Understand the Terms and Conditions

Every property purchase agreement contains its own set of terms and conditions. It’s paramount that you thoroughly understand these terms and the responsibilities they entail.

5. Factor in the Closing Costs

Closing costs encompass the additional expenses incurred during the property transaction process. These include:

Oqoodi Fee:

If you’re purchasing an off-plan property via a payment plan with a developer, an Oqood fee will be levied. The Oqood system, initiated by the DLD, registers all contracts between developers and buyers for off-plan properties, ensuring

transparency. This fee ensures the property is registered under the buyer’s name, safeguarding their ownership rights even before the property’s completion.

Transfer Fee:

This fee is levied during the transfer of property ownership from the seller to the buyer. Only a property that has been paid off or has completed payment installments can receive a Title Deed. The DLD currently charges a fee of 4% of the net sales price for issuing a Title Deed. In the case of off-plan properties, once you complete the payment plan, you will need to register the property for the Title Deed, which requires payment of the 4% transfer fee.

Mortgage Registration Fee: A mortgage registration fee, usually 0.25% of the loan amount, is

payable to the DLD for properties bought with a mortgage.

Property Valuation Fee:

For mortgage buyers, the bank will conduct a property valuation. The fee for this service varies from bank to bank and should be factored into your budget.

Estate Agency Fee:

This is typically 2% of the net property price or a flat rate negotiated with the agency. Ensure you understand what services are included in this fee. Before signing, ensure all these costs are included in your budgeting to avoid any financial surprises.

With this comprehensive checklist, you’re ready to embark on your property-buying journey in the UAE.

- Happy house hunting!

Equipped with the right knowledge and careful planning, your journey to buying a property in the UAE can be a rewarding investment leading to a thriving future.

Securing Pre-Approval for a Mortgage in the UAE: A Vital Step Toward Homeownership

NAVIGATING THE REAL ESTATE MARKET OF DUBAI OR OTHER EMIRATES CAN BE THRILLING. A PRE-APPROVED MORTGAGE ALLOWS YOU TO EMBARK ON THIS PATH WITH A CLEAR FINANCIAL PICTURE AND THE ASSURANCE TO REALIZE YOUR DREAM.

If you’re contemplating entering the vibrant real estate market of the United Arab Emirates (UAE), take the first step towards transforming this dream into a reality by securing a mortgage pre-approval.

The pre-approval process in the UAE is straightforward. As a land of opportunities, UAE allows nationals and foreign residents to secure a mortgage. All that’s required is demonstrating your ability to repay the loan, usually by showcasing a steady income.

Pre-Approval: The First Step

Understanding the pre-approval process is the key to your success. A mortgage pre-approval is a green light from the lender/bank, a signal that they trust in your ability to repay the loan based on your financial situation. This includes an analysis of your income, employment status, and credit history. It’s an exciting initial step that showcases your cred-

itworthiness and paints a clear picture of your purchasing power. Remember that a pre-approval is an endorsement of your financial strength, but it doesn’t automatically guarantee the final loan. Once the bank has thoroughly assessed your financial situation and the property you intend to buy, you’ll be closer to the finish line of your homeownership journey.

Why is Pre-Approval So Important?

It endorses your position as a credible buyer and helps you to identify the price range you can comfortably afford. This can make your house-hunting journey far more enjoyable and efficient. A pre-approval mortgage gives you a distinct advantage in the fastpaced UAE property market, where opportunities appear and disappear quickly.

Eligibility: Who can Apply?

To be eligible for a mortgage in the

UAE, you must be a resident (“expat”), a UAE national, or a foreign investor aged between 21 and 70.

A minimum monthly income of AED 15K for self-employed or AED 10K for salaried expat individuals (AED 8k for UAE nationals) is required. Still, it may vary based on the lender’s policies, residency, and citizenship status. Your credit score, which reflects your financial behavior, is another significant aspect that lenders will examine. Remember, a healthy credit score can help you secure a loan with favorable interest rates and terms.

Several banks might consider a monthly income of AED15k as a suitable benchmark for self-employed individuals seeking mortgage pre-approval. However, this doesn’t guarantee acceptance. Such profiles might be seen as having weaker financial statements unless the company demonstrates a solid average balance, robust customer profile, and healthy sales turnover.

Importantly, some banks adopt

a more nuanced approach to eligibility, considering up to 60% of a company’s net profit as part of their turnover calculations. This approach widens the opportunities for self-employed individuals to secure mortgage pre-approval, increasing the likelihood of turning their homeownership dreams into reality. It’s always advantageous to be aware of these different bank policies, as they can have a significant impact on the mortgage pre-approval process.

Determining your Down payment

The UAE Mortgage Cap law stipulates the minimum down payment you must prepare for, ranging from 15% to 40%, depending on various factors. While this might seem like a big number, consider it a substantial investment toward a stable and secure future in your home. The down payment is contingent on the property’s purchase price and your residency status. UAE Mortgage Cap law necessitates UAE nationals to make a down payment of 15%, escalating to 30% for properties over AED 5M and 40% for subsequent property purchases. Foreign residents are required to down pay at least 20% of the property’s value. These deposits increase for those with existing mortgages.

Pre-Approval Application Time

Securing a pre-approval typically takes around ten working days for salaried individuals and a slightly longer period for self-employed individuals and non-resident foreigners.

Avoid Surprises at Closing

Among the various aspects to consider, understanding the potential costs associated with acquiring a mortgage can provide a clear picture of the financial landscape that lies ahead.

This would encompass various expenses such as application fees, valuation fees, documentation, processing charges, and loan transfer fees. Empowerment lies in knowledge; having the foresight of these elements not only assists in planning a prudent budget but also aids in mitigating any unforeseen financial challenges.

Navigating Mortgage Tenure

Mortgage terms can last up to 25 years for salaried individuals until the retirement age of 65 or until 70 for self-employed. These mortgages can be offered at variable or fixed interest rates. Fixed terms are generally five years long, while variable-rate loan durations can extend up to 25 years.

Lending Limit

Typically, the mortgage lending limit is up to 50% of your monthly income. However, this percentage may fluctuate based on factors such as existing debts, income type, current savings, lifestyle factors, and more. While 50% might be the upper limit, your credit check could yield a lower number.

Principal and Interest Rates

The principal is the total amount of the loan you’ve been approved for. Typically, the principal on your loan will only cover 70-80% of the property cost; the rest needs to be covered by you as a deposit. When considering interest rates for mortgages in the UAE, they

typically vary between 2.99% and 5%. However, these rates are often influenced by the Emirates Interbank Offered Rate (EIBOR). EIBOR is the benchmark interest rate utilized by UAE banks for interbank lending.

The calculation of EIBOR is based on the average interest rates offered by a select panel of contributing banks. Prior to April 15, 2018, EIBOR was published by the UAE Central Bank. Since then, Thomson Reuters has taken over the responsibility for its calculation.

Therefore, any fluctuations in the EIBOR can impact the mortgage interest rates offered by banks in the UAE, making it an important factor for prospective home buyers to monitor.

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