Foreign investment in Dubai real estate market reaches $12 bln in 2016, Indians rank first..
Dubai’s real estate sector continued to attract a wealth of investors in 2016; DLD reports that the sum of real estate investment transactions for the year exceeded AED 91 billion (24.7 billion) from 55,928 investors. As has been the case in previous years, the leading investors were UAE nationals from across the GCC, Arabs, and foreigners, for their investment of nearly AED 22 billion ($6 billion) from over 7,000 investors.
In 2016, citizens of the Gulf Cooperation Council (GCC) states contributed AED 35 billion from 12,768 investors of six nationalities, while 3,294 Saudi Arabian investors made transactions worth AED 8 billion.
Investors from Qatar and Kuwait approached AED 2 billion mark, from 1,006 and 770 investors respectively, followed by nationals from Oman (301 investors) and Bahrain (244 investors), who contributed up to AED 1 billion.
Arab investors from outside the GCC contributed over AED 12 billion to the real estate market last year, from 6,416 investors of 16 nationalities, according to the Dubai Land Department.
DLD’s report reveals that among these, Egypt ranked highest in number of investors, with 1,364 investors making transactions worth over AED 2.4 billion. Other leaders in numbers of investors were Algeria, Iraq, Lebanon, Palestine, Sudan, Yemen, and other Arab countries, while citizens of Jordan ranked highest in terms of value, investing a total of AED 2.5 billion across 1,331 investors.
2016 saw foreign investment in the Dubai real estate market approaching AED 44 billion ($12 billion), from 22,834 investors of 136 nationalities. Indian nationals rank highest in terms of both volume and value, making AED 12 billion ($3,2 billion) worth of property transactions across 6,263 investors. Pakistan contributed AED 4.4 billion worth of property transactions across 3,372 investors, while British investment totaled AED 5.8 billion from 3,372 investors. The report also details the activity of investors from Canada, China, France, Iran, Russia and the United States, who are among the most prominent foreign investors in Dubai’s real estate market.
Source: Dubai Land Department