UAE nationals top investors in Dubai property market
Emiratis top the list of nationalities that invested the most in Dubai’s real estate market between January 2016 and the end of June 2017, according to Dubai Land Department (DLD)
Emiratis top the list of nationalities that invested the most in Dubai’s real estate market between January 2016 and the end of June 2017, according to Dubai Land Department (DLD).
DLD data revealed that Emirati nationals made close to 12,000 investment transactions worth $10bn (AED37.4bn), while Indian, Pakistani, Saudi Arabian and British investors ranked second, third, fourth and fifth respectively for number of registered transactions.
A total of $41bn (AED151bn) of investment from 217 nationalities has been recorded since January 2016, HE Sultan Butti bin Mejren, director general of Dubai Land Department said.
“This list has been unveiled at a time when our real estate market is preparing for a new phase of growth in the run-up to Expo 2020.
“We are pleased to have witnessed such a high level of interest from global citizens in Dubai, who have invested over AED151 billion across 71,000 real estate transactions in just 18 months,” he added.
Indian investors made 10,628 transactions worth more than $5.5bn (AED20.4bn), while Pakistani nationals made 5,398 real estate transactions worth close to $1.9bn (AED7bn).
Saudi Arabians led the Gulf nations with 5,366 transactions worth $3.4bn (AED12.5bn) while UK citizens reported 4,188 transactions worth $2.4 (AED9bn).
Investors from Egypt, China, Jordan, Lebanon, and the United States placed sixth to tenth respectively through 2,439 transactions worth more than $1bn (AED4bn).
In overall, all other nationalities registered in the DLD’s database made 23,318 transactions amounting to a total value of nearly $13bn (AED49bn).