Bullet-Point Property: Dubai No. 80

This time last week, the UAE Government announced some timely and major changes to the way ex-pats are employed in the country, their residency status and the ability for foreign-owned companies to operate without the obligatory local partner. Read more here

Visas of up to 10-years for specialists working in medicine, science, research and technical fields - plus their families. 

Foreign investors opening a business or investing money in the country could get a visa of up to 10 years.

Foreign companies could own 100 percent of their business in contrast to the present system of offering a local partner a substantial stake unless based in a free zone.

Students would be able to secure five-year visas, and exceptional graduates could stay here for ten years. 

These changes will be implemented by the end of the year so expect more information over the next few months. The devil is in the detail, but these are very positive moves for all sectors of the economy, and is another example of how the country is moving away from its reliance on oil and gas towards a knowledge-based economy – Read more here

We are already over a third of the way through Ramadan, and the offers keep coming:-

• Emaar have finally declared their offer for the Holy month which includes a 2 to 4-year post-handover payment plan, 50% to 100% off Dubai Land Department fee and 100% off service charges for 2 to 4 years– Dubai Creek Harbour, Downtown, Arabian Ranches and Dubai Hills all have offers on selected properties. Email me for more details

• Rawda 2 apartments in Town Square have a revised payment plan offer of 30% during construction, and 70% on handover in 2020– two beds at AED 930k (GB£ 190k) are my recommendation. We have some more apartments in the community that are ready between now and the end 2019 all on a 10%/90% payment plan

• There is a large Dubai developer who was offering 1,698 sq. ft three bedroom townhouses at AED 1m (GB£ 200k), these are the best-priced townhouses in Dubai but in my opinion, fall into the "too good to be true" category. Take away the carport, the balcony and the outside terracing and you are left with just 1,084 sq. ft. which is a very small two story three bedroom home by any standards. It's going to be a while before these homes are handed over and its estimated that there will be many thousands of them, so watch this space for future values and rents.

• Meanwhile, I am confident of recommending some alternative townhouses which may all cost a little more, but they are bigger and better, there will be far less of them, and they are all nearer to the city.  The Amaranta Townhouses in Villa Nova are a good choice, and you can find three bedroom townhouses starting at AED 1.373m (GB£ 280k). I like the three beds from AED 1.4m AED (GB£ 286k) in the final phase of the contemporary Arabella townhouses in Mudon, and finally, one should not underestimate the value of the Saffron three bedroom townhouses which start at AED 1.43m on a 4-year payment plan and scheduled for completion in 2020.

• When the Habtour City apartments launched a few years ago, I loved the location on the Shk Zayed Rd alongside the canal, and the whole development which incorporates the W Hotel, St Regis and the Westin is a winning concept. However, the price was too high to recommend as a buy to my clients. There are three towers; the first is for leasing only, the second is for sale and due to be handed over at the end of this year and so far they haven't told us what they intend to do with the third. The second tower which is for sale is the best located on the plot directly overlooking the canal and the Godolphin Stables. Now for the news…….the developer is selling at a 20% discount on previous prices, add a ten-year payment plan and a 4% DLD fee waiver, and you have a very attractive and interesting option for an end user or investor. One beds start at AED 1.5m, two beds at AED 1.9m and three beds at 3.6m – these are good sized high-quality apartments in a unique self-contained and very central development. See the Al Habtoor City Brochure here