7DAYS | August 4, 2015
Investors pumped more than Dhs53 billion into Dubai real estate in the first half of this year, according to figures released by the Dubai Land Department (DLD).
The land department said that 19,848 investors from 142 countries made property transactions in the first six months of 2015.
The DLD’s report, issued by its Research and Real Estate Studies Department, revealed that 3,926 investors from GCC countries completed transactions totalling Dhs17 billion.
Emirati investment formed the lion’s share of the figure, with UAE nationals making 2,130 transactions worth Dhs11.5 billion in the city’s property sector in H1, 2015.
Saudi Arabia was ranked in second place on the list of GCC real estate investors, having made 999 transactions worth Dhs3.2 billion. Kuwait was third, followed by Qatar, Bahrain and Oman.
“One look at the figures from DLD’s Research and Real Estate Studies Department is enough to show us that Dubai’s real estate sector is now enjoying sustainable growth,” said Sultan Butti Bin Mejren, Director General of DLD.
“Based on the strong performance of the market, we fully anticipate that the momentum will be continued throughout the next five years as we lead up to Expo 2020, the biggest marketing event in the world.”
DLD’s list included the amount of real estate transactions conducted by foreign nationals in H1, with 13,166 investors from India, Pakistan, UK, Canada, Russia, China, US, France and Afghanistan involved in deals worth a total of Dhs30 billion.
Indian nationals were ranked first for foreign investment, having made a total of 3,017 transactions worth Dhs7.8 billion. British investors were in second place, with deals worth Dhs4.7 billion, followed by Pakistani investors with transactions worth Dhs3.3 billion. Canadian investors came in fourth place with transactions worth Dhs1.8 billion.