Industry Affairs

  • Dubai's Emaar denies plan to offer 10-year visa on some projects

    Dubai-based construction giant refutes reports that it plans to offer 10-year investor visas to buyers in six residential projects

    Emaar Properties on Tuesday refuted reports that it plans to offer 10-year investor visas to buyers in six residential projects under development.

    Al Bayan newspaper initially reported the news, citing people familiar with the matter but the developer of Burj Khalifa, the world's tallest tower, later issued a statement denying the claim.

    In a statement, Emaar said: "Emaar refutes the report by a section of the media that it will provide 10-year visas to investors.

    “The issuance of visas falls under the purview of the concerned authorities and Emaar does not have any role regarding the same.

    “This is to clarify any misunderstanding that might have been created by the said reports.”

    Al Bayan had reported that the visa incentive, offered to buyers and their families, is part of a stimulus package announced by the UAE in June to attract more investors.

    It said projects in the plan include those in Dubai Creek Harbour and Downtown Dubai.

    Courtesy Arabian Business

     


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