UAE Promised Golden Visa, I Paid Rs 8 Crore, Got Ghosted: US Man Shares Ordeal After Buying DAMAC Islands

A foreign investor has gone viral on social media after accusing Dubai-based real estate brokerage BankeDXB and luxury developer DAMAC of failing to deliver on promises tied to an AED 3 million property purchase. The investor claimed he bought a unit at DAMAC Islands in November 2025 after allegedly being assured that his UAE Golden Visa would be processed ‘almost immediately.’ Six months later, he says there has been ‘zero accountability’ despite repeated follow-ups and official complaints.

The post has sparked wider conversations online about investor protection, off-plan property sales, and Golden Visa-linked marketing in Dubai’s booming real estate sector.

Investor Says Emails Were Ignored After AED 3 Million Purchase

In the viral post shared online, the buyer alleged that both BankeDXB and DAMAC stopped responding after the sale was completed. The investor wrote that:

• Multiple emails allegedly went unanswered
  
• Escalations to Banke founders, ‘Porush & Aditi,’ resulted in no response
  
• Complaints filed with Dubai authorities did not lead to a resolution
  
• Six months passed without progress on the promised Golden Visa

The post directly tagged Dubai authorities, including Sheikh Mohammed bin Rashid Al Maktoum and the Dubai Land Department, questioning whether this was the “investor experience UAE is proud of.” The investor also called for a boycott of businesses associated with BankeDXB.

What is the UAE Golden Visa Property Rule?

The UAE Golden Visa is a long-term residency programme aimed at attracting international investors, entrepreneurs and talented professionals. UAE law allows foreign nationals investing AED 2 million or more in eligible real estate to be granted a 10-year Golden Visa. Some off-plan and mortgaged properties qualify, provided they meet the approval conditions. Dubai developers often use the eligibility of luxury properties for the Golden Visa as a key selling point to foreign buyers looking to relocate or gain residency in the UAE.

DAMAC Islands Is One Of Dubai’s High-Profile Luxury Projects

DAMAC Islands Part of Dubai’s Leading Luxury Projects DAMAC Islands is part of DAMAC’s luxury real estate development strategy focused on waterfront villas and luxury communities targeting wealthy foreign investors. Dubai’s property market has seen record growth over the past few years, with luxury developments attracting buyers from the US, Europe, India, Russia and other international markets.

What draws many investors:

• Tax-friendly policies
  
• Luxury lifestyle offerings
  
• Long-term residency options
  
• High rental yields
  
• Stable infrastructure and safety

UAE golden visa application – why the wait?

Immigration experts say Golden Visa approvals aren’t always instant, even for qualifying properties. Applications may be delayed by: 

• Incomplete documentation
• Property valuation issues
• Pending handover procedures
• Mortgage verification
• Administrative review
• Background checks 

No Official Response Yet From DAMAC, BankeDXB

There has been no official response from either DAMAC or BankeDXB to the investor’s allegations. Nor have Dubai’s real estate authorities released any official word on the specific complaint mentioned in the post, which went viral. The incident comes as Dubai continues to market itself as one of the world’s most attractive destinations for global investors and high-net-worth individuals.

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