AED 57 billion invested in Dubai’s real estate market by 149 Nationalities in H1 2016, says DLD
Dubai Land Department (DLD)’s transactions report, issued by its Real Estate Research and Studies Department, has revealed that the sum total of real estate investment transactions for the first half of the year 2016 reached AED 57 billion, which was invested by 26,000 investors comprising of 149 nationalities.
Commenting on the results, HE Sultan Butti Bin Merjen, Director General of 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.”
DLD’s investment report, which tracks the department’s real estate transaction activities over the course of the first six months of the current year, revealed that citizens of Gulf Cooperation Council (GCC) contributed AED 22 billion to the Dubai property market, a figure which encompasses eight thousand transactions. Emirati investment formed the lion’s share of this figure, with total transactions reaching AED 14.523 billion, which was acquired from 4,543 investments.
Citizens of Saudi Arabia came in at second place with transactions reaching a combined figure of AED 4 billion originating from 1,946 investments. In third place were Kuwaiti nationals, with 743 investment transactions worth more than AED 1 billion, followed by nationals from Qatar, Oman and Bahrain.
Arab investors from outside the GCC contributed more than AED 7 billion to the real estate market in the aforementioned period, with 7,577 investments made by 16 different nationalities. DLD’s report revealed that Jordanian investors were ranked first, with 765 investments worth more than AED 1.5 billion. They were followed by Egyptian citizens who invested a total of AED 1.37 billion stemming from 710 transactions and the Lebanese whose investments amounted more than AED 1 billion, which was derived from 423 transactions.
The total value of foreign investment in the Dubai real estate market reached more than AED 28 billion, drawn from 14,314 investments belonging to 149 nationalities. Indian nationals came in top of this investor field, making more than AED 7 billion worth of property transactions arising from 3,656 transactions. The British were listed second with a total of AED 4 billion worth of property transactions resulting from 2,010 transactions, while Pakistani investments were third with AED 3 billion, which was gained from 2,073 transactions.
Source: Dubai Land Department