Indian, British and Pakistanis ranked top three foreign investors in Dubai’s real estate market with a combined share of Dh20.83 billion for 9,739 transactions in the first half of the year, according to the Dubai Land Department.
The DLD’s list included the amount of real estate transactions conducted by foreign nationals, with investors from India, Pakistan, Britain, Canada, Russia, China, USA, France and Afghanistan involved in 14,231 property deals worth a total of Dh30.533 billion for the first half of 2014, according to a Khaleej Times newspaper reported.
“Nationals from India were ranked first for foreign investment, making a total of 4,417 transactions worth Dh10.523 billion. British investors were in second place with 2,258 transactions worth Dh5.811 billion, followed by Pakistani investors with 3,064 transactions worth Dh4.5 billion. Iranian and Canadian investors came in at fourth and fifth place, with transactions worth Dh2.7 billion and Dh1.9 billion respectively. Citizens from Russia, United States and China occupied sixth, seventh and eighth places, creating more than one billion dirhams worth of property invested in each category of national.
Dubai Land Department (DLD) has reported that total of 17,289 real estate transactions worth Dh37.5 billion were conducted in the first half of this year,” the report said.
“We are extremely proud of these positive results, as they reflect a building momentum in Dubai’s real estate market which has now reasserted itself on both the regional and global stage. We are certain that the future will see even more demand, especially in light of the government’s declaration of forthcoming major projects,” said Sultan Butti bin Mejren, director-general of DLD.
“The government organisation accompanied their announcement with a breakdown of nationalities making property investments in the first six months of 2014, which revealed that Jordanians topped the list of Arab investors, with Indian nationals ranked first for foreigner investment.
DLD’s report, issued by its Research and Real Estate Studies Department, revealed that Arab Investors completed a total of 3,058 transactions worth Dh6.905 billion in the first half of this year. Jordanians made 640 transactions to the value of Dh1.347 billion, with Lebanese nationals second on the list of Arab investors through their creation of 459 real estate deals worth a total of Dh1.235 billion. Egyptians came in at third place after being involved in transactions worth Dh1.009 billion, ” the report added.