GCC continues to invest in Dubai property market
Dubai remains an attractive market for GCC property investors in 2017, a market that experts say continues to provide long-term profits to regional players
Dubai remains an attractive market for GCC property investors in 2017, a market that experts say continues to provide long-term profits to regional players.
Major developments driving the economy continue to build investor interest among local and regional investors which see Dubai as a safe haven for business, according to The Peninsula.
The biggest volume of investment from the GCC countries in Dubai real estate last year came from Saudi, with 3,294 investors making transactions worth $2.1bn, according to data from The Dubai Land Department.
Last year, 770 Qatari nationals invested in Dubai's real estate market with a combined value of deals estimated at $543m (QR1.98bn) with Kuwaiti nationals making the same value of investments in 2016, the Qatari daily reported.
For other gulf countries, approximately 301 Omani investors and 244 from Bahrain jointly contributed up to $272m to Dubai’s property market.
The Dubai real estate market has made a strong start to 2017, with the Dubai Land Department confirming transactions worth $8bn for the month of January.