Visa associated to property buyers in Dubai would in all likelihood get legal sanction within this year, according to a source. This would be a big boon for Dubai real estate which is at present reeling under the impact of financial crisis. Vagueness pertaining to this matter had aroused a lot of doubts among potential real estate investors and with legal backing the cloud of confusion enveloping the property sector might lift.
According to a source, law will explain who deserves a visa in terms of their investment in the real estate. Previously, most real estate advertisements boasted of 99-year visa for purchase of freehold property.
The government of Dubai had opened up the property sector to foreign national in 2002. Since then Dubai property sector never looked back.
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