The UAE’s recently-launched permanent residency scheme could be a game changer and provide a fillip to the real estate market by encouraging expatriates to invest in property and settle in the Gulf nation, industry experts said.

The United Arab Emirates last week launched a permanent residency scheme to woo wealthy individuals and exceptional talents, a move that could attract more Indian professionals and businessmen to the country.

The “Gold Card” programme unveiled by UAE Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum is open to investors and “exceptional talents” such as doctors, engineers, scientists, students and artists.