Dubai real estate Image Credit: Pankaj Sharma/Gulf News archives

Dubai: “Golden” visas have been issued to 20 investors whose real estate investments in Dubai have topped Dh200 million in total. These investors belong to 12 nationalities.

The move represents the latest reforms Dubai has brought to the property market, and allows the holders to have 5-year visas for having acquired individual assets valued at Dh5 million and more. Plus, these properties should be registered with Dubai Land Department.

Apart from those from India, Pakistan, Iraq and Iran, the investors hold passports issued by Tunisia, the US, Commonwealth of Dominica, China, Libya, Jordan, Kazakhstan, and Saint Kitts and Nevis.

The visa privileges also benefit the wives and children.

The conditions for obtaining the golden visa without a sponsor includes investing in one or more existing properties that satisfy the total value condition, regardless of whether the property is owned by an individual or a group of investors.

The investors were granted the visas through Cube Centre.