Economy / United Arab Emirates
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UAE
June 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Comments by Dubai's real estate regulator have thrown the link between property ownership and residency into doubt. Foreigners have been allowed to buy property in Dubai since 2002 and have usually received long-term visas, allowing them to settle in the Emirate. Real estate companies have often used the promise of residency visas as an advertising tool when marketing property developments to foreigners. However, the Real Estate Regulatory Authority (RERA) has said that there is 'no direct link' between property and residency. This could affect demand from investors from places such as Iran and Pakistan, who have bought property in Dubai