Tuesday, November 21, 2017 9:58 AM

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Foreign investors inject Dh113.6 billion in Dubai’s real estate in 18 months


As much as Dh113.6 billion or 75.23 per cent of Dh151 billion investment in Dubai’s real estate were done by foreigners in 18 months from January 2016 till June 2017, Dubai Land Department’s latest report shows, while the rest or Dh37.4 billion or 24.77 per cent pumped in by the UAE nationals.

UAE nationals topped the overall list of investors registering Dh37.4 billion investment through 12,000 transactions. Saudi Arabians led the Gulf nations with 5,366 transactions worth Dh12.5 billion. Indian nationals topped the list of foreign investors in Dubai’s real estate market investing Dh20.4 billion (US$5.55 billion) through 10,628 transactions in 18 months, while Pakistani investors injected Dh7 billion through 5,398 real estate transactions.

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 Dh48.66 billion.

“In less than 40 years, Dubai has transformed from a local trading community into one of the most inspirational, exciting and successful cities in the world. It continues to make global headlines as an immensely attractive destination for tourists, investors and businesses alike,” said Sanjay Sachdev, Managing Director of Sobha LLC, a major real estate developer in the UAE and India.

“With recent economic changes in India and the lack of incentivised benefits for investments, especially in the real estate sector, Indian investors are looking for alternate means to achieve higher returns on investments from different avenues. As such, they are setting their sights on Dubai.”