By: Mahmoud Gamal
Dubai – Mubasher: Following the recent decision by the Federal Electricity and Water Authority’s (FEWA) to cut electricity tariffs in the UAE, several expatriate nationalities are likely to benefit from the decision, particularly the largest expatriate group in the UAE.
The UAE’s population comprises 948,000 citizens and 8.5 million expats, according to official statistics.
There are around 2.7 million Indian expats, accounting for 30% of the country’s total population. They also rank first among the list of property owners in Dubai.
From January to November 2018, Indian investors injected around AED 10.8 billion ($2.88 billion) in the emirate’s real estate sector.
New power tariff to boost property sales
In the same vein, the real estate sector is expected to be the most-positively-affected industry from FEWA’s decision.
Last week, FEWA announced an initiative to reduce electricity consumption tariffs paid by expatriates, especially those who own villas and residential apartments, noting that the amendment would be effective January 2019, and reflected in bills issued in February.
British expats ranked second among top investors in Dubai’s property market and accordingly in the list of those benefiting from FEWA’s decision, followed by Egyptians, Jordanians, and Saudis.