Top UAE investors optimistic on permanent residency
The announcement is an early Eid gift, investors say
Abu Dhabi: Some of the top investors in the country expressed optimism that they would be granted permanent residency following the announcement by the UAE government to launch “Gold Card” permanent residency system.
The first batch of beneficiaries will include 6,800 investors whose total investments exceed Dh100 billion, according to a tweet by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai on Tuesday.
“I am optimistic of the permanent residency. We are waiting for further details on this,” said Dr Shamsheer Vayalil, chairman and managing director of VPS Healthcare without disclosing further details.
VPS health care is one of the top investment groups in the country and owns Burjeel and other hospitals in Abu Dhabi, Dubai and Al Ain.
Calling the announcement great news, Vayalil said it is an “early Eid gift for UAE investors.
“It will encourage investors to do more for this country and boost the growth of the nation,” he added.
Dr B.R. Shetty, founder and chairman of NMC Healthcare also welcomed the decision.
“We are committed to the country and work towards the benefit of the country till our last blood. The country has given so much and we are ready to sacrifice for the benefit of the country and for its development. We are very happy with the decision. This is a good opportunity for investors.”
Chawqui Derradji, chief executive officer of Abu Dhabi based Siadah Development said the latest announcement by the government gives a lot of “solid feel” to the market and boost stability of capital as well.
“Investments from the country will not migrate to any other emerging market and it will stay within the UAE to boost real estate as well as other sectors in the country. The decision will also give more confidence to the new funds entering the market.”