In­di­ans in­vest Dh20b in Dubai prop­erty

The Pak Banker - - BUSINESS -

DUBAI: In­di­ans topped the list of non-Arab for­eign in­vestors in Dubai prop­erty, with more than Dh20 bil­lion of pur­chases in 2015. They were fol­lowed by UK cit­i­zens who spent Dh10 bil­lion in 2015, the Dubai Land Depart­ment (DLD) said in its an­nual re­port. Pak­ista­nis came third, buy­ing Dh8 bil­lion worth of prop­er­ties. In 2014, they had in­vested Dh7.6 bil­lion in the Dubai prop­erty in­dus­try. In­vest­ment from non-Arab ex­pats sur­passed Dh74 bil­lion in 2015. The num­ber of over­seas non-Emi­rati in­vestors grew to 56,000 - a 33 per cent in­crease over 41,475 in­vestors re­ported in 2014.

Over­seas buy­ers com­mit­ted Dh135 bil­lion to real es­tate pur­chases in Dubai in 2015, up 24 per cent from Dh109 bil­lion re­ported in 2014. In­vest­ments by GCC na­tion­als stood at Dh44 bil­lion in 2015, up from Dh32 bil­lion in 2014. Of this, Emi­ratis ac­counted for Dh26.1 bil­lion. In­vest­ment by Saudi na­tion­als jumped 73 per cent to Dh9 bil­lion, com­pared to Dh5.2 bil­lion in 2014, with the num­ber of in­vestors up 86 per cent to 3,259 (2,745 in 2014). Non-Gulf Arabs also in­creased their in­vest­ment by a third to Dh16 bil­lion, with Jor­da­ni­ans top­ping the list (1,516 in­vestors pur­chased Dh3.5 bil­lion worth of prop­er­ties), fol­lowed by Egyp­tians. Sul­tan Butti bin Me­jren, di­rec­tor-gen­eral of the DLD, said Dubai en­joys an ex­tremely high de­gree of ac­cep­tance from in­ter­na­tional in­vestors be­cause of its at­tributes and re­turn on in­vest­ment. Bin Me­jren said in­vest­ments by Gulf na­tion­als pro­tect Dubai's prop­erty mar­ket from sea­sonal fluc­tu­a­tions.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.