Dubai, with its dazzling skyline and vibrant economy, has become a beacon of opportunity for Kenyan workers seeking a better life and investors eyeing high returns in the real estate market.
Thriving Work Opportunities
Dubai’s flourishing economy and rapid development have attracted over 40,000 Kenyan guest workers. These individuals contribute significantly to the city’s growth, laboring in various sectors such as construction, hospitality, entertainment, and even the travel industry. Kenyans also play a crucial role in Dubai’s travel sector, with Kenya Airways maintaining a busy office in the city.
Many Kenyan workers express contentment with their lives in Dubai, citing safety, rule of law, and improved living standards. However, it’s noteworthy that while Dubai is a land of opportunities, it comes with strict customs and laws, creating a stark difference from Kenya’s more relaxed atmosphere.
Related: Traveling From Kenya to Dubai
Kenyan Entrepreneurs in Dubai
Besides the workforce, Dubai has become a hotspot for Kenyan business owners. The city hosts successful entrepreneurs in various sectors, including hospitality, with some running hotels in popular suburbs like Deira. Additionally, a growing number of Kenyans of Asian origin have set up shops in Dubai, adding to the city’s multicultural business landscape.
Related: The Dubai Digital Nomad Visa – How To Apply
Dubai’s Property Investment Appeal
Beyond work, a new investment trend has emerged among Kenyans—property ownership in Dubai. The city’s real estate market has become particularly attractive due to the high rental returns it offers. Kenyan investors are drawn to Dubai’s position as the trading and financial capital of the Middle East, making it an ideal location for global brands.
Moreover, Dubai’s property market has gained attention due to its stable low-interest rate regimes, hassle-free entry, flexible payment options, and government guarantees on project completion. Investors, including those from Kenya, are capitalizing on the ease of doing business in Dubai.
There have been annual real estate expos held in Nairobi targeting wealthy Kenyans to showcase the different types of real estate ventures they can invest in.
Related: Kenyans in Dubai
Kenyan Investment Savvy in Dubai
A section of investment-savvy Kenyans is building property portfolios in Dubai, taking advantage of the city’s robust real estate sector. Unlike the local property scene in Kenya, which has faced challenges, Dubai offers attractive returns, with investors recouping their investments in a relatively short period.
For instance, a two-bedroom unit in a prominent Dubai development costs a little over $1 million but guarantees investors a 14% annual return on investment. This, coupled with the city’s global appeal, has led to a surge in property purchases by Kenyans, looking for both holiday homes and sound investment opportunities.
Conclusion
Dubai’s allure for Kenyans extends beyond work opportunities, attracting both workers seeking a better life and investors eyeing profitable real estate ventures. As the trend of Kenyan investment in Dubai grows, it’s evident that this Middle Eastern city has become more than just a layover destination—it’s now a place of opportunity and potential prosperity for many.