05.11.2023
Strengthening the history of strong relations between Cyprus and the United Arab Emirates, Dubai Property Shop Investment (PSI), the UAE’s leading real estate company, held its roadshow at the Park Hotel Lane Resort in Limassol .
Cyprus and the UAE are looking to identify synergistic investment opportunities, from renewable energy to consumer goods and real estate. Both countries are working to increase bilateral cooperation, with many Cypriots living and working in the UAE and vice versa.
This inaugural PSI Roadshow , held from 27-29 October, showcased Dubai’s unparalleled investment opportunities and introduced the company to the hospitality and culture of Cyprus.
“Hotel Park” Lane as a venue was very impressive,” said Nibal Khattar , PSI Sales Manager. “The people at the hotel and at the event were very kind and well-mannered. Until now we have not had the opportunity to communicate with many Cypriots. We met very nice people, both inside the hotel and at events. Overall, it was an amazing experience interacting with Cypriots.”
They presented Cypriots, Russians and other foreign investors with an exclusive opportunity to capitalize on Dubai’s thriving property market and discussed the benefits of the 10-year Golden Visa, high return on investment (ROI) opportunities and tax incentives.
“We used to travel to many countries including Armenia, Russia, Saudi Arabia, Iraq, the entire Middle East and many European countries like the Netherlands, as well as India, parts of Asia, Singapore… so we covered a lot of roads,” Khattar said . People are interested in coming to Dubai for various reasons: for additional job opportunities and, of course, to do business together. Out of all the countries we have visited, the feedback we have received from many people has encouraged us to come and visit people in their own country and tell them about what is happening in Dubai.”
Dubai’s rapid rise as an economic hub and beacon for investors has been remarkable.
PSI’s presentation highlighted the attractiveness of this vibrant city and described a great opportunity for investors to diversify their portfolios to secure a secure financial future.
It provided compelling reasons to invest in Dubai, including a 10-year golden visa, “allowing investors to enjoy peace of mind while building their future in one of the world’s most dynamic cities.”
Dubai has recently achieved impressive returns on investment in the city, which continues to attract global attention.
According to UK property consultancy Knight Frank , the Dubai property market recorded 176 luxury property sales over $10 million, ahead of London, Paris and New York in the first quarter of 2023.
Many wealthy investors are turning to Dubai as a safe haven when backing luxury real estate in the UAE.
Sales in the first quarter of 2023
| City | Amount of deals | Transaction cost |
| Dubai | 92 | $1700 million |
| Hong Kong | 67 | $988 million |
| NY | 58 | $942 million |
| London | 36 | $736 million |
Dubai is known for its favorable tax environment. Investors benefit from zero income, capital gains and inheritance taxes. Its tax-friendly treatment allows investors to retain more of their capital, promising financial security and peace of mind for them and their families.
“We are delighted to bring to Cyprus for the first time the unprecedented opportunities of the Dubai property market,” said Amer Saade , Managing Director of PSI. “Our mission is to provide investors with the knowledge and resources they need to make informed decisions that will secure their financial future. Dubai’s 10-year golden visa, high return on investment and tax-free lifestyle make it an attractive destination for forward-thinking investors.”
PSI has partnered with some of Dubai’s leading developers including EMAAR, DAMAC, NAKHEEL and SOBHA. Through these strategic alliances, PSI aims to provide access to premium real estate, investment opportunities and mortgage loans, allowing investors to benefit from the best that the Dubai property market has to offer.
Other important projects that Cyprus has with the UAE include DP World at the port of Limassol , operated under a 25-year concession by an Emirati company specializing in cargo logistics, port terminal operations, maritime services and economic zones.
With the UAE hosting COP28 from November 30 to December 12, hydrogen and climate finance could also be an area of potential cooperation.
