A prestigious gathering of elite investors recently took place in Monaco, showcasing luxurious real estate prospects in Dubai.
On December 2, Monaco was the venue for a private dinner organized by Dubai Holding at the opulent Hotel Hermitage. As a state-owned property development powerhouse managing assets worth 80 billion dirhams across 34 nations, Dubai Holding aimed to present exclusive investment opportunities in some of the Middle East’s most ambitious real estate projects. This event underscored Dubai’s evolution into a vital global investment landscape.
Natalia Kamyshan, the Global Head of Communications, collaborated with Delta Capital and Hi-Human to coordinate the event. She highlighted the event’s significance, remarking, “Only a handful of countries currently demonstrate the potential for substantial growth in their real estate market paired with a secure economy, and Dubai stands out as one of the leading destinations.” Kamyshan expressed her excitement about connecting discerning investors with promising opportunities in Dubai.
A Destination Transformed by the Pandemic
Mr. Zohary, representing Dubai Holding, noted the striking transformations the emirate has undergone recently. “Dubai fundamentally changed post-COVID-19. Before the pandemic, it was mostly a travel destination. Now, thanks to effective government strategies, Dubai has become a prime place to live,” he explained.
The data supports this shift: Dubai’s resident population surged from 3 million prior to the pandemic to 4 million today, with an ambitious target of reaching 8 million by 2040. This population growth accompanies significant infrastructure projects, including the development of the world’s largest airport, slated to handle 200 million passengers annually.
Security on All Fronts
For Monaco’s high-caliber investors, Dubai’s assurances of safety and investment security are imperative. Mr. Zohary pointed out that safety in Dubai has two dimensions: a top-tier lifestyle coupled with solid investment protections. “Dubai is among the world’s safest countries, ranking in the top ten,” he noted.
Financial safeguards in Dubai are equally robust. The escrow account system protects investors’ funds until property handover, and all transactions are published on a government website to mitigate risk and promote transparency.
Christophe Becker, Honorary Consul of Mozambique in Monaco and head of a family fund through Delta Capital, echoed these sentiments: “We prioritize three key aspects: investment returns, secure capital storage, and the ability to have a social or environmental impact,” he stated.
Exceptional Projects for European Investors
Waterfront properties are particularly appealing to European investors. “We have a strong preference for waterfront developments,” remarked Mr. Levy, managing partner at 1188 Estate Realty in Dubai. Dubai Holding plans to add around 400 kilometers of coastline, greatly expanding the current 74 kilometers.
Featured projects included Palm Jebel Ali, poised to be twice the size of the iconic Palm Jumeirah, as well as Solaya, offering 234 upscale residences and Jumeirah Residences Emirates Towers, located in the business district. Other notable developments include Asora Bay with its exclusive penthouses, Como Residences on the Palm Jumeirah skyline, and Nad Al Sheba Gardens, featuring villas and townhouses surrounded by nature.
Attractive Tax Benefits
In addition to safety and luxury, the favorable tax environment is a strong lure for investors. “For many Europeans considering relocating to Dubai, the absence of inheritance tax, capital gains tax, and income tax is crucial,” Mr. Levy emphasized.
Moreover, the Golden Visa program, available through real estate investments, provides ongoing protection. “New regulations ensure that Golden Visa holders receive full protection from the UAE government, even while residing outside the country,” he added.
A Sustainable Vision for 2040
Dubai Holding is a key player in the Dubai 2040 strategy, which envisions a significantly greener city with five new urban centers. The plan aims for 55% of residents to be within 800 meters of public transportation and the expansion of public beach access.
Mr. Becker views this initiative as a chance for knowledge transfer, sharing insights from his experience in Mozambique. “My aim is to leverage knowledge gained from these investments to foster market development back home and similarly apply lessons from Monaco’s urban growth,” he remarked.
This event highlighted Dubai’s commitment to progress, security, and sustainable growth, which resonates with the investment philosophies of discerning stakeholders from Monaco.
