Why Canadians are investing in Dubai. Dubai Real Estate.

Why Canadians are investing in Dubai. Dubai Real Estate.


– Dubai is what I was expecting but times ten – We are sitting right now in the sales office of Dubai Holding … – and I’m here with my partner from Canada, Nicholas. – Nicholas is the agent in Toronto and he came to Dubai to understand better the city, – the market, the product so he can discuss it with his clients in Canada. – Nicholas, thank you so much for coming to Dubai. – Thank you for having me. – Can you please tell us a little bit about yourself and what you are doing in Canada? – We have some subscribers from Canada. – Absolutely. Yes, welcome to Dubai. – Absolutely beautiful place here. – I work with clients in Toronto, specifically and in a greater Toronto area – It’s a large population. Toronto itself has 3 mln people. – Once you start counting smaller cities around the main city. – So primarily what I do is help people in Toronto and the greater Toronto area locate out of Toronto whether for investment or vacation home or looking to permanently relocate to another country. Whether an England or Tokyo or some place like Dubai for example. – It’s pretty exciting. – So one of the reasons why I came here to Dubai that I’ve heard so many great things about it – and there are so many people from around the world who are coming to move here and live here. – And I want to better understand why, see at first hand so that I could better serve my clients in Toronto who are interested in this part of the world – Ok Nicholas, excellent. – So when you were coming here I’m sure you have seen a lot of pictures on Instagram, … – some videos about Dubai, can you please share with us if Dubai exceeds your expectations … – or it’s exactly what you were expecting from the city or maybe you are a little bit disappointed in some things? – Absolutely great question. – I mean Denis and I were talking before this video and he asked me a similar question. – I told him Dubai is what I was expecting but times ten. – So I think we’ve both seen a lot of the videos and pictures of Dubai. – As this huge new city coming uprising out in the desert. – The new building, new constructions, best amenities … – but until you actually come here to see at first hand just the scale of these buildings, where people are living. – You don’t understand. – Another thing that was a surprise for me and very happy to learn it’s about safety in Dubai. – Incredibly safe. – And I’ve been very careful to ask this and pretty much everyone I talked to here … – from taxi drivers to hotel owners, real estate agents like yourself about the safety in the city … – And I have to say people here leave their cars with the keys in ignition, walk away for hours at a time – Don’t consider it as an advantage Not that I recommend you to do that when you come here. – But there is absolutely zero crime here. – The police and the government are very strict unfollowing the rules, there are cameras everywhere. – People who cause problems, especially from other countries will be kicked out to their countries. – This is not a place where people come and take chances by breaking the law, doing dangerous things. – So this is definitely a place which is fantastic for families to come to, … – for young professionals to come and start their careers, for people to come and retire if you love the summertime. – It’s a definitely great place for you to be. – The longer I stay, it’s been 4 days now. I’m here another 4 days – and I’m looking forward to learning more about this beautiful city. – Nicholas mentioned one thing that the police and the government is strict here. – But what is as well important to mention is that the police is quite friendly. – They are strict with those who abuse the law. – But they are very friendly here. – So, Nicholas, can you please highlight a few things – that you think might attract investors from Canada over here in Dubai. – After your research that you have done here. – Yeah, absolutely. – Aside from the great weather, that we have here in Dubai – it would be for investors specifically a very low to zero tax rates, … – that investors have when they purchase here. – In Toronto, specifically, we have a lot of taxes as you know. What are the taxes in Toronto? – For sure. The main tax that people pay which is the income tax. – So if you make, I believe it’s over $150-175K per year income, you pay 40% tax on that to the government. – 40%, almost half of your income goes out of your pocket – Right away, before you get to spend anything. – And after that, so when you buy a house here, In Toronto, … – you have a land transfer tax. – And there is one provincial frontier and there is another one for Toronto. – So if you are buying in Toronto you pay both of those. – But I can’t remember the exact numbers – but that depends on the price of the property, it’s a sliding scale – After that, if you are buying a new property, pre-development condo or a new house that is just built by the developer – You are going to pay 13% HST tax on that as well. – Is it one time? – Yes, it’s a one time tax. – 13%! – Yes, yes. 13% – Incredible. – And you have as well these taxes for the foreign buyers? – Absolutely. – It was just implemented in the past 12 months inside of very large impact on the market, as you know in Toronto. – It was originally introduced in British Columbia and they had it there for 2 years and they brought it to Ontario. – So the foreign buyer tax is 15% tax on people from other countries buying property in Toronto. – Sorry in Ontario. – So, you mentioned amazing weather, taxes. What else do you think might attract investors from Canada over here? – Yeah, absolutely. – So the other thing is the purchasing power – What you get for a dollar here in Dubai vs what you get for a dollar in Toronto. – Prices for 1 bedroom in Toronto around 550,000 Canadian dollars … – which would be around let’s say 420,000 American dollars. – On average. – Here in Dubai, I understand you can get maybe 1 bedroom for let’s say average price 300,000 American dollars – So it’s about 25% difference in terms of purchasing power – So, there are a lot of reasons for people to be considering Dubai. – And especially if they like traveling to countries in the area or if they have any families especially, in the area. – Whether it’s in India. or China or Africa, Europe. – Duba is really right in the center so it’s very easy to get around. – So it’s an excellent place to be. Absolutely. – I see. Nicholas, you have spent here already a few days … – and by the way, Nicholas already checked quite a lot of projects. – So he is building the portfolio of the projects to offer to his clients. – Is there anything that stands aside? – Maybe something impressed you. Do you want to highlight any project? – For sure. – So in Dubai, one of the first projects that I wanted to go and see was the Burj Khalifa – It’s an old project. – It’s very impressive. Tell us about your experience there – It’s absolutely amazing. It’s the tallest building in Dubai. – I believe it’s still the tallest in the world – Yes. – And there is one in Saudi Arabia that they are building right now to be taller. – Still, we have the tallest one. – This is still the tallest. – And when you go up to the top, first the elevators move at 10 meters per second – So it’s extremely fast to go up. – I went to the observation deck – It was on the 154 floor. Very high. Amazing views. – You have a lot of residential in this tower. – You have a lot of hotels as well. There is a lot of retail. – And right in the center, it’s connected to Dubai Mall. – So the planning that goes into the developments here is spectacular. – They don’t just create a building and say ok, we are going to build this building – And that’s all we are going to do. – It’s a big masterplan. – So they include the residential, the include the commercial with office space. – They include retail. – So you are making a place where you can live, work and play here in Dubai under the sun. – It doesn’t get better than this. – 12 months around the year. – That’s what really impressed me. – We were talking about the place De La Mer. – This is the one with a Crystal Lake. – Is this the one or is it a different development. – The one with the Crystal Lake is the District One. – District One, sorry. – It is Crystal Lagoon. – Crystal Lagoon, ok! – Sorry, I got confused. There are so many developments here. I try to keep track. – I like that project as well. It’s one of my favorite ones. – And it’s very good that you mentioned that they are not just building the buildings over here. – They build the building and infrastructure and they make the life of the residents easier and this is really cool about Dubai. – Ok, Nicholas, you mentioned some of the very important points … – about why Canadian investors would be interested in buying a property over here. – In case somebody is watching this in Toronto and they want to meet with you, how can they find you? – You can connect with me on social media. You can call me. – You can send me an email. I’m all over the internet. – @nickzarlenga on Instagram. – You can definitely reach out Denis will be sending me a lot of information on the developments here. – We will be working together on helping you to find a place here in Dubai … – that meets whatever your needs are, whether you are looking to move here to live or you are looking to invest here. – there are many companies that will take care of everything for you. – You don’t even need to come here in fact to purchase the property if I’m not mistaken. – So you will be able to send the money through the … – When you are buying the property from the developer you can transfer the money to the escrow account. – The developer will ship you the contract to Canada or any other part of the world. – So guys, once again, if you are watching it in Canada – and you want to get some more information, meet with Nicholas. – There are maybe several guys who are working with the Dubai market in Canada … – but there are only a few of them and only one that I know that comes here to learn, to touch everything, … – to feel the property, to feel the atmosphere here, to speak with different people … – So, Nicholas has done his homework and you can meet with him for a coffee … – and to discuss this option. – And I from my side I will be happy to assist you with all this. – And if you are watching it from Dubai or any other part of the world – just hit the “like” button and maybe one time we will come to your country – to represent your company You are welcome anytime. – Denis has a great YouTube channel, very active on Linkedin – so check out his account there and you can learn more about Dubai if you are watching those videos as well. – Ok Nicholas, it was a great pleasure to meet with you. – Likewise, thank you – And I wish good luck as well to your clients. – Thank you very much – And thanks for watching. Have a great day! – See you guys – Goodbye from Dubai!

16 thoughts on “Why Canadians are investing in Dubai. Dubai Real Estate.

  1. Nice video. Comparing western countries real estate investment vs. Dubai. Keep it up! Could you also make a video highlighting key downside risk in investing in Dubai real estate? It would be good for the investor to know both side of the coin! Cheers man!

  2. 0561524704 please come my Whatsapp

  3. for travelers who invest alot … dubai can be an amazing investment… specially that dubai government protect these investments. good video

  4. good interview , Denis

  5. I love Dubai. I live near Amsterdam and since 2013 the house prices have increased with 60%! Even in my town close to Amsterdam and Schiphol airport everything is getting so expensive.

    And I want to live in Dubai for sure when i’m a little bit older. But it looks expensive to rent in Dubai.

  6. Definitely very safe!

  7. The only guy who gives great advice!!! Love u Denis!

  8. Thanks, Dear Sir, the valuable leading conversation about the Real Estate(property project development Infrastructures) in Dubai for investing👏.Welcome Canadians and Others from all over the world.!✈✔✌

  9. Since 2007 I was waiting for this moment to invest and now I invested in few properties. Personal advice do it now or max 2020. After that you will regret because projects will be limited in future.

  10. Only problem with Dubai. All medications are banned which are legal in other countries. I had an eye infection and I couldn't get simple eye drops with antibiotics, which are over the counter here in Canada. And had to see a private doc and paid 590 USD for the privilege.

  11. Best development is Dubai Creek Island in my opinion.

  12. Hi Denis thank you for the great content. Great edition as well. Which cameras do you use for this interview. Would you mind to make a video about your technical equipment? Best regards.

  13. Big difference between Dubai Real Estate Market and Canadian Real Estate Market. In my opinion, Canada can't compete Dubai when it comes to Real Estate, Dubai always coming up with great new schemes for investors.

  14. 0% commission 🏡
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  15. I am interested to invest in Dubai. Hi Denis, keep up the work. Wil meet you one day.

  16. On 2008, I paid 68,000 AED to R-Holding company to purchase one unit in Ajman, Emirates City. They asked me to pay this amount to be able to enter to the contract. The contract was supposed to be sent to me one month later… But they never sent me the contract. The project has been cancelled and to this day, they have not refunded my money. Ajman government done nothing till this day. Why?

    The founder and chairman of R- Holding is Sheikh Rashid bin Humaid Al Nuaimi ,THE SON OF AJMAN RULER.

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