Dubai - Mubasher: The UAE's introduction of the value-added tax (VAT) as of 2018 will largely stimulate investors and institutions to foray into Dubai's real estate market, Fäm Properties CEO Firas Al Msaddi said.
The new transparency approach in property transactions resulted from VAT will play a key role in attracting investors, Al Ittihad newspaper reported citing Al Msaddi as saying.
The UAE is set to impose a 5% VAT starting from 1 January 2018 on all products and services in the nation, except the VAT-free services set by the law.
Dubai's real estate market will benefit from the transparent investment scheme, particularly foreign investments, Al Msaddi added.
