Chinese invest over $2.72bn in Dubai real estate
Dubai Land Department will highlight investment opportunities in the emirate's real estate market at the Dubai Property Show – Shanghai, to build on strong trade relations between Dubai and China
The database of Dubai Land Department (DLD) shows that Chinese investors have pumped more than $2.72bn (AED10bn) into Dubai’s real estate market in the last four years.
HE Majida Ali Rashid, assistant director general and head of real estate investment management and promotion Center at DLD, shared this information in a press statement announcing the participation of DLD at the Dubai Property Show – Shanghai, which will take place from 24 to 26 March at the Shaghai World Expo Exhibition and Convention Centre.
Commenting on DLD’s participation, HE Majida said: "Over the last few years, we have witnessed a marked increase in demand from Chinese investors, who are eager to invest in Dubai property.”
According to the statement, DLD will be using the event to draw attention to Dubai as a leading investment destination by offering potential Chinese investors with insights into the emirate’s real estate and property market.
China is said to enjoy strong trade relations with Dubai and the UAE. Furthermore, Dubai presently counts 253,000 Chinese nationals among its resident population.
Chinese tourism to Dubai is also growing rapidly, with over 100 weekly flights linking Dubai with 13 Chinese cities. Dubai reportedly received 450,000 Chinese tourists in 2015.