Dynamic Dubai attracting SA investors in two new lavish, state-of-the-art property development communities

Global volatility experienced in recent years has seen South African and international investors increasingly turning to Dubai, which has solidified its position as a global hub for real estate investment, offering a unique combination of high returns, stability, world-class infrastructure and lifestyle benefits – including a 10-year Golden Visa.

Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “For astute investors seeking a sound offshore property investment to diversify their portfolio, or those looking to acquire the flexibility of Golden Visa status, vibrant and alluring Dubai ticks all the boxes. With no taxes on personal or rental income, no property taxes, strong economic growth and rising property prices within a booming property market – including high demand for rental properties, Dubai has emerged as one of the globe’s most sought-after luxury residential property destinations.

“As a consequence, we are extremely proud to have partnered with successful Azizi Developments, one of Dubai’s leading real estate and lifestyle development companies, to bring to the South African market a range of stylish, luxury apartments and waterfront mansions in their latest world-class projects – Azizi Venice and Azizi Milan.”

Strategically and accessibly located within approximately eight hours’ travel from most countries, and four hours for some, dynamic Dubai is recognised as one of the safest and fastest-growing cities in the world. With about 85% of the population comprising expatriates, Dubai is considered one of the top five luxury residential markets globally. Confidence in the city’s thriving economy and business sector, coupled with a strong buyer base, underpins the strong demand for luxury homes.

Says Chris Immelman, who heads up Pam Golding International: “A further incentive for acquiring Dubai residential property is the prestigious and sought-after 10-year UAE (United Arab Emirates) Golden Visa, whereby a property investment of at least AED2 million (Arab Emirates Dirham) provides eligibility, allowing you and your family (including parents) to live, work and study in the UAE while enjoying the world class infrastructure on offer in Dubai. This residence visa is renewable and does not require you to reside in Dubai, nor is there any time limit on how long you can remain outside the country.

“For those looking to invest the required AED2 million, which is approximately ZAR9.722 million or USD544 500 at current exchange rates, this is comparable in price to the Portugal Golden Visa when it was first launched. With Europe rapidly closing EU residency programmes – although Greece is still available – the UAE Golden Visa is a compelling option, particularly given the stability of the UAE’s currency. We are now offering these two new, lavish developments, Azizi Venice and Azizi Milan as an alternative Golden Visa programme and/or a pure offshore investment with rentals projected at an estimated 8% to 10% and with attractive future capital growth potential.

“Dubai consistently delivers attractive rental yields, often surpassing global cities like London or New York, making it ideal for generating passive income, and with no property or capital gains taxes, your investment returns are in no way eroded, maximising profitability. With a diversified and thriving economy, the UAE’s GDP is anticipated to grow by 4.1% in 2025, underpinning a stable and resilient property market, while a rising population, fuelled by expatriates and tourists – with 9.31 million visitors in the first half of 2024 alone, drives consistent demand for residential properties, ensuring strong rental and resale potential.”

Established in 2007, Azizi Developments is experienced in state-of-the-art developments creating modern residential and mixed-use communities strategically located in several of Dubai’s most sought-after neighbourhoods. These two new developments are each creating small townships on their own, based on their sheer size and scale.

Adds Immelman: “While we have only just begun marketing these residential properties to the South African market, at prices starting from around AED550 000 and ranging up to AED10 million, they are already soliciting interest, particularly for Golden Visa purposes, with the qualifying requirement from a minimum of AED2 million. Many of the interested investors are high-net-worth individuals who already own other investment properties around the world.”

Luxury, lifestyle and location

Both well-located in Dubai South and to be completed in two years, the developments include Azizi Venice, a luxurious, water-inspired community situated near Al Maktoum International Airport. Azizi Venice is an expansive project spanning 136 hectares and designed to evoke the charm of Venice with a central 18km swimmable, crystal lagoon, waterfalls, pristine beachfront and interconnected luxury waterfront mansions and apartments ranging from one to eight bedrooms. Residents will enjoy an exceptional lifestyle residing in a vibrant, lush environment with climate-controlled retail boulevard with restaurants and boutiques, an opera house offering world-class entertainment, and 5km of jogging and cycle tracks. Other amenities nearby in the community include a hotel, hospital, and international school.

Also located in a prime, high demand location with high growth potential is Azizi Milan, inspired by Italy and featuring a wide array of studio, one, two and three-bedroom apartments, multiple retail boulevards, a scenic canal and shopping mall, cafes, galleries, and elegant boutiques, in a community comprising a variety of residential neighbourhoods, hotels, healthcare facilities and educational institutions.

For further information contact international@pamgolding.co.za or visit www.pamgolding.co.za/international-property/dubai

Posted by The Know - Pam Golding Properties