Indians, Pakistanis among top 10 investors in Dubai real estate
Staff Reporter Khaleej Times
Filed on August 28, 2017 | Last updated on August 28, 2017 at 01.48 pm
Indians made transactions worth more than Dh20.4 billion while Pakistanis made transactions worth Dh7 billion
Dubai Land Department has revealed a list of the top 10 nationalities that invested in Dubai’s real market between January 2016 and the end of June 2017. The new list confirms that UAE nationals are in the lead, outperforming all other nationalities.
His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: “217 nationalities have invested a total of Dh151 billion in Dubai’s real estate market. This demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system that provides safety and security for all parties.”
The recent research found that Emiratis made close to 12,000 investment transactions worth Dh37.4 billion, while Indian, Pakistani, Saudi Arabian and British investors ranked second, third, fourth and fifth respectively for number of registered transactions.
Bin Mejren added: “This list has been unveiled at a time when our real estate market is preparing for a new phase of growth in the run-up to Expo 2020. We are pleased to have witnessed such a high level of interest from global citizens in Dubai, who have invested over Dh151 billion across 71,000 real estate transactions in just 18 months.”
Indian investors made 10,628 transactions worth more than Dh20.4 billion, while Pakistani nationals made 5,398 real estate transactions worth approximately Dh7 billion. Saudi Arabians led the Gulf nations with 5,366 transactions worth Dh12.5 billion and UK citizens took poll position among the European nationalities with 4,188 transactions worth Dh9 billion.
Besides investors from Saudi Arabia, citizens from three other Arab countries appeared on the list, with investors from Egypt, China, Jordan, Lebanon and America placing in sixth to tenth places respectively through 2,439 transactions worth over Dh4 billion. Egyptians came in sixth place, followed by Jordanians who made 2,235 transactions worth Dh4.2 billion.
Chinese investors ranked in eighth place after concluding 2,177 transactions worth Dh3.1 billion, while Lebanese nationals came in ninth place with 1,313 transactions worth Dh2.6 billion and Americans ranked tenth with 1,119 transactions worth close to Dh2.9 billion. Combined, all of the other nationalities registered in the DLD’s database made a total of 23,318 transactions amounting to a total value of Dh48.665 billion