Dubai is now the go-to investment destination for Kenyan investors, who are seeking to take advantage of the high rental returns in the city. Dubai has positioned itself as the trading and financial capital of the Middle East, which is one of the key factors driving the interest of Kenyan investors. The hustle-free entry and visa application process, flexible payment options, and government guarantees for off-plan projects have also made Dubai a more attractive investment destination.

Jorim Amadi, a residential and commercial property leasing expert in Dubai, explains that information about the Dubai property market has been filtering in through the annual property expos, which bring together developers from around the world to showcase their latest offerings. He says that the flexible financing options and the high demand for certain types of units, combined with good rental returns, have made Dubai an instant hit with Kenyan investors.

According to Simon Brown, the director of sales at Homebond Properties, the demand is highest for studios and one or two-bedroom apartments that are built for short-term rentals and targeted at visitors. He says that there is also a growing market for exclusive high-end holiday homes, as well as institutional investors seeking high returns by buying whole apartment flats.

Brown explains that the high demand for housing in Dubai, combined with the state of the world, with war, security concerns, inflation, and so on, has people from all over the world looking for a safe and stable place to do business. On average, he says that an investor can recoup their investment in studios, one-bedroom, or two-bedroom apartments in three to five years, with a return on investment of 20% or more.

Seth Ochieng’, the director of client engagement at Hearly Consultants Group, a Dubai-based firm that specializes in assisting entities to register in Dubai, says that the UAE is one of the easiest jurisdictions to set up a company in the Middle East. He says that the country provides a variety of corporate structures to accommodate the needs of international entrepreneurs.

Another factor driving property sales in Dubai is the ability to buy property using cryptocurrency. Simon Brown says that more villas were sold to British nationals last month than any other month in history, with 60% of them bought by young people under 30 years old using bitcoin.

Overall, the ease of doing business in Dubai, the almost non-existent visa regulations, and the lower cost of flying to Dubai have all contributed to the popularity of the destination as a property hotspot

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