Having successfully invested more than US$500 million in global real estate investments, Dennis Wee Group (DWG) is now looking into adding Dubai into its’ Global Real Estate Investment portfolio. “Dubai is an international gateway city, on the southeast coast of the Persian Gulf as the Eurasian non-Continental centre which is also a very important trade transport hub – a must have route for maritime transport to the world’s gateway households.
The rapid transformation and regeneration of Dubai over the past 20 years from a half-sea and half sand small town developing into the Middle East world’s unique international economic centre. We look forward to leveraging this location to provide our clients with a good and promising investment.” Said Mr Denka Wee, Chief Executive Officer of DWG.
Being the largest and most populous city in UAE has risen Dubai into becoming the Arab United Nations Economic Center. With an estimated 20 million-passenger traffic per year, rapid development and diversification of large-scale construction projects, international sports events, coupled with global ultra-high net worth people and a large number of international enterprises, have all accelerated Dubai into becoming the world’s international city.
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We are actively seeking partners in developing services that support our core offerings.” Mr Wee said during DWG’s “Hello! Beijing” event held in April, which garnered more than 200 guests; consisting of international distributors and developers.
Since shifting business models to Global Real Estate Investment Service Provider in 2016, DWG has undertaken boutique developments and invested in several iconic and landmark developments in 9 major cities across 4 countries; Japan, United Kingdom, Thailand and Malaysia.
Dubai will host the 2020 World Expo with an expected increase to 25 million-passenger traffic. Since 2016, the total annual investment of Chinese investors has been about AED$1.6 Billion (RMB$3 Billion). This has allowed Dubai’s real estate market to grow by 1200% compared to 2015. Presently around 230,000 Chinese live in Dubai, a 53% increase compared to 2015. Dubai has become a key market for foreign investments. Dubai has revamped its’ tax policies from 1st January 2018, reflecting the country’s interest in attracting more foreign investment.
A 5% Value-Added Tax (VAT) is imposed only on some goods and services. Real estate markets, education, medical and basic living necessities still remain tax-free. “As the market has evolved, so has our investments products and services offerings and the way in which we have adjusted our focus. We believe in only identifying and investing the best, with the aim of having long term capital appreciation and strong yield rentals, together with our clients who are always a significant priority to us.
Image source from Unsplash
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