Foreigners pump in Dh43 billion into Dubai realty in nine months
Filed on October 25, 2017
Women investors buy properties worth Dh21 billion in first three quarters
Foreign investors accounted for the bulk of real estate investments in Dubai in the fist nine months of 2017. They invested over Dh43 billion in Dubai properties through 22,667 transactions, according to the Dubai Land Department (DLD).
Gulf nationals came in second place, investing nearly Dh29.5 billion in 11,000 transactions. The market also attracted Arab investors who closed 6,806 real estate transactions worth over Dh11 billion.
The total value of real estate investments made in Dubai in the first nine months of 2017 exceeded Dh84 billion.
Women of various nationalities have also been actively investing in the Dubai property market in the first three quarters. More than 9,000 women made 11,000 transactions worth over Dh21 billion.
Sultan Butti bin Mejren, director-gGeneral of DLD, said: “The real estate market continues to maintain its momentum, driven by a general optimism among Gulf, Arab and foreign investors. The Dh84 billion worth of real investments made during this period is also a sign of sustainable growth and the market’s ability to absorb the developer demand for residential, commercial, office and industrial properties. The real estate market is in full harmony with other economic sectors in the city.”