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[Tuttifruitti]

That's it in a nutshell ChrisV, and as you say, very clever indeed!
As regards your question about the real estate agents - the problem with that is that the contract provided to the employer contains the name of the owner in addition to the realtor, so you couldn't get around it that way. The scenario presented by like2answer is the best one - if you are lucky enough to get it.
Regarding your question about the quality of accommodation at the prices you mentioned, it wouldn't be bargain basement but some of the places might be in a fairly crowded area, or they may be a little outside the city (which isn't always a bad thing!). All (I'm almost sure) would have a gym, pool, parking space and maintenance company in the building.

If you are not in Dubai, prices get much lower in the surrounding emirates mentioned by Afra, and you might get a more spacious unit. In Abu Dhabi, prices are high, property is still leasehold and you don't get a residence visa with the contract.

[veiledsentiments]

I'd say that you are taking a big risk if you don't get a residence visa with the purchase.

Vs

[Bindair Dundat]