Why Russian buyers are attracted to Dubai’s realty market

Why Russian buyers are attracted to Dubai’s realty market

Buyers see a lot of value for money. The emirate’s ease-of-doing business, a tax-free regime and affordable mortgage plans are big incentives for Russians looking to buy a home away from home.

Brokers surmise at least 100,000 Russians have arrived in Dubai since the beginning of the Ukraine crisis, doubling the size of the community. Many newcomers are also looking at homes in Ras Al Khaimah and Fujairah, where Russian signages on shops and eateries have been commonplace through the years.

Maria weighs in on the advantages. “An investment of Dh750,000 in a property ensures a three-year residence while a larger investment can secure the longer-term Golden Visa for my compatriots.” Consider the case of Roman Igonin, a Muscovite entrepreneur who first came to Dubai five years ago and fell in love with the emirate.

“I must have visited Dubai at least 10 times since then. Time is ripe to open businesses here as I own two properties in Downtown and The Palm.” Roman is looking at starting a chain of dental clinics across Dubai — at least five to begin with. He wants to zero in on Dubai Hills, Business Bay and Dubai Marina.

Alessia Sheglova, CEO of Dacha Real Estate, has been