Dubai Land Department, in coordination and cooperation with the General Directorate of Residency and Foreigners Affairs, has granted the golden residence of 20 real estate investors from more than 12 nationalities. The value of their direct real estate investments is more than 200 million dirhams, Dubai, attended by General Manager of the General Directorate of Residency and Foreigners Affairs in Dubai, Major General Mohammed Al Marri, and Director General of the Dubai Land Department, Sultan Butti Bin Majran. During the ceremony, the five-year Golden Residence was handed over to real estate investors whose investment in the local real estate market was not less than AED 5 million and registered with the department. This privilege also benefits all members of their families (including wives and children). The conditions for obtaining a residence visa for five years without a sponsor include investment in one or more existing properties as the total value of the property. The list of nationalities of investors includes: Tunisia, the United States, the Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, Saint Kitts and Nevis.
"The project will be of great benefit to the Emirate of Dubai and the UAE to further consolidate its position as a leading destination for attracting capital and foreign direct investment," Sultan Bin Mujrin said in a statement.