BNW Developments opens Sydney office to expand UAE investment for Australians

Sydney, Australia witnessed the launch of BNW Developments' new office on 24th September, marking their expansion into the Australian market. The UAE-based real estate giant aims to cater to Australian investors seeking opportunities in the UAE's residential property market. BNW Developments, headquartered in Dubai, has a significant portfolio with 16 projects in the pipeline and a combined GDV of approximately AUD $12 billion.

Their initiatives focus on high-yield rental properties and attractive tax policies in the UAE. Following recent reforms in Australia's property investment taxation laws, Australian investors are increasingly exploring the UAE market, which offers higher rental yields, favorable tax policies, and visa pathways. Australian investors hold 5.7% of the Dubai property market, comparable to other neighboring regions.

The Dubai average rental yield stands at 6-10 percent tax-free, significantly higher than the Australian average of 3.7 percent. The UAE offers numerous benefits to Australian investors, including no personal income tax, capital gains tax on property sales, or recurring land tax. Additionally, investors can obtain a Golden Visa, a 10-year, renewable visa upon investing in properties worth Dh2 million or more.

BNW Developments' Chairman and Founder, Dr (CA) Ankur Aggarwal, emphasized the attractive rental returns the UAE market offers compared to Australia, stressing the increasing interest of Australian investors in international diversification.