149 nationalities invest Dh57bn in emirate’s real estate sector: DLD
The biggest investors in Dubai property market have been UAE nationals followed by Indians in the first six months of 2016, according to Dubai Land Department (DLD).
UAE nationals (Emiratis) invested a total of Dh14.523billion, through 4,543 investments, while Indians poured in Dh7.27billion during the period.
Nearly 26,000 investors, comprising 149 nationalities, made total investments worth Dh57billion, the department said.
The citizens of Gulf Cooperation Council (GCC) pumped in Dh22bn through 8,000 deals. Emirati topped the listed, as mentioned earlier, with citizens of Saudi Arabia, who invested Dh4bn from 1,946 transactions, took the second place. Kuwaitis came in third with over Dh1bn (743 transactions), followed by Qatari, Omani and Bahraini nationals.
Arab investors, 16 nationalities, from outside the GCC contributed over Dh7bn through 7,577 deals. Jordanians were ranked first, with investments of over Dh1.5bn through 765 transactions followed by Egyptians who invested a total of Dh1.37bn (710 transactions) and Lebanese at over Dh1bn (423 transactions).
The DLD statement said that 149 foreign nationalities invested over Dh28bn through 14,314 deals. After Indians, British citizens purchased property worth Dh4bn through 2,010 transactions followed by Pakistanis with Dh3bn (2,073 transactions).
Sultan Butti Bin Merjen, Director-General, DLD, said: “The Dubai real estate market has managed to maintain its robust appeal this year and is now emerging as one of the foremost property investment destinations in the world, bolstered by the decline in some regional economies and serious challenges faced by other countries around the globe.
“The diversity of the investor base reflects the extensive ranges of different products offered by the real estate sector in Dubai, along with the quality and trust that investors place in its national economy.”