The economy of the world had a strong hit shaking its infrastructures, economy, and people. The hit was caused by the COVID-19 pandemic. Nothing similar had happened before on the same scale. Lockdowns, curfews, canceled flights, full hospitals, depressing statistics every day.
I never expected any country’s economy to show positive signs in near future. I did not expect suffered industries to show any signs of recovery, soon.
Dubai. The United Arab Emirates. 2021, March. Europe is in lockdown. Some countries do not allow their citizens to travel without a particular need. Lots of lost jobs, lots of lost friends and relatives.
It came to me all of a sudden. I started receiving lots of requests asking to assist with investments. From people, I never met and never dealt with. Lots were from referrals, lots were from online media, and so on. Quite surprising to see people started to migrate with a decent capital. Isn’t it?
I might have not been that surprised if these people have mainly been from one country or one group of countries. You know, these politically and economically unstable countries. But it appeared to be from all over the world.
It looked to me, that many people around the globe started thinking of migration. Migration to Dubai. Will it be like in the mid of twenties? God knows. But I’d like to share some few cases proving attraction of Dubai as a new business and living destination.
New Restaurant Chain in Dubai
Man and woman. Husband and wife. Coming from Portugal. Coming to Dubai with their little cute son by taking an apartment in a very luxurious place of the city. They moved from Portugal because of the pandemic and lockdown. They’re coming to Dubai and opening a restaurant chain. At the time of me writing this article, the couple is purchasing a house in Dubai.
Reason why? – Because of no taxes and business not being shut down.
Retirement in Dubai
Husband and wife from Canada – world travelers have decided to retire and settle in Dubai by purchasing a property in Dubai and applying for the investor’s visa.
Reason why? – Because of the safety and appropriate climate in the country.
Sweet Second Home
Syrian family holder of the US passport exploring Dubai to consider it as a second home city. Family is well known in its country and thinking to back up its family’s security and stability by having a second home. The family’s considering several countries to buy a second home in – UAE, UK, Germany, France, etc. But, eventually, the family settles in Dubai by making several million worths of investments.
Reason why? – Because the prices are affordable compared to other countries offering same facilities and benefits.
A big businessman is thinking to purchase a property for investment purposes in Dubai. The first property he’s considering is The Five at Palm Jumeirah. His purpose of investment – passive income and a steady home to stay in whenever he visits Dubai. Though, he understands it’s not a family place.
Reason why? – Dubai has an outstanding climate and luxurious lifestyle.
Lock, Stock and Two Barrels
An enthusiastic and smart gentleman having 20 years of experience in the stock market. Gentlemen +65 years old. Someone who can speak about everything related to stocks on and on. Moving to Dubai with his family and purchasing two properties worth several millions.
Reason why? – His work is remote. Dubai offers him safety, good weather, and it’s a beautiful city.
“I’ll teach you the life”
A young lady and man from Spain came to Dubai in January of 2021. They came to Dubai because they do online courses, and their work is remote. They are pretty young. Not even 30 years old. Both of them are coaching other people. Coaching and teaching how to live or leave life. They moved to Dubai and established a company. Their vision of life in Dubai is long-term. Their investments have just started…
Muscles of Dubai
An American couple of bodybuilders saw the opportunity in Dubai to establish the company and start the business. Being “locked” in the US, the couple saw many tourists flying to Dubai. It made them think of trying Dubai as a new destination. Their curiosity ended up making them open a company in Dubai, where they train online people like me or maybe you.
Reason why? – Dubai is a dynamic city where people strive for success and good life.
Time to Settle
Russian businessman, who has been always visiting Dubai. At least twice a year for a week or two – in Summer and Winter. In 2021, after New Year’s eve, seeing long queues in Currency Exchange shops, queues of rich tourists visited Dubai, he decides to buy a property and get settled. So, now, whenever he visits, he’s got a home. Meantime, his home is operated by a hotel on a short-term basis. It gives him a passive income.
Reason why? – Dubai is open. Businesses are operating. Tourists are coming. People are working. The economy is moving.
Key Question: Will more people start migrating to Dubai and how it will affect the real estate market?
Answer: In our company, we have a huge queue of people moving to Dubai, by June, July, August, September, etc. Most of them are business owners, or people bringing the capital to the country. I believe, it is going to pick the market up and boost the economy. We’re witnessing increasing prices. More people migrating is an additional fuel to warm up the economy.
Akhmed Idigov is the founder of IDIGOV Consulting and IDIGOV Real Estate companies. Akhmed is actively involved in training hundreds of people and being the part of Dubai Real Estate Institute, Business Consultant, Developer and Instructor at Udemy.