Paste your Google Webmaster Tools verification code here
August 29, 2017 | 9:30 | Dubai
Dubai Land Department has revealed a list of the top 10 nationalities that invested in Dubai’s real market between January 2016 and the end of June 2017. The new list confirms that UAE nationals are in the lead, outperforming all other nationalities.
His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: “217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market. This demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system that provides safety and security for all parties.”
The recent research found that Emiratis made close to 12,000 investment transactions worth AED 37.4 billion, while Indian, Pakistani, Saudi Arabian and British investors ranked second, third, fourth and fifth respectively for number of registered transactions.
Bin Mejren added: “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 AED 151 billion across 71,000 real estate transactions in just 18 months.”
Indian investors made 10,628 transactions worth more than AED 20.4 billion, while Pakistani nationals made 5,398 real estate transactions worth approximately AED 7 billion. Saudi Arabians led the Gulf nations with 5,366 transactions worth AED 12.5 billion and UK citizens took poll position among the European nationalities with 4,188 transactions worth AED 9 billion.
Besides investors from Saudi Arabia, citizens from three other Arab countries appeared on the list, with investors from Egypt, China, Jordan, Lebanon and America placing in sixth to tenth places respectively through 2,439 transactions worth over AED 4 billion. Egyptians came in sixth place, followed by Jordanians who made 2,235 transactions worth AED 4.2 billion.
Chinese investors ranked in eighth place after concluding 2,177 transactions worth AED 3.1 billion, while Lebanese nationals came in ninth place with 1,313 transactions worth AED 2.6 billion and Americans ranked tenth with 1,119 transactions worth close to AED 2.9 billion. Combined, all of the other nationalities registered in the DLD’s database made a total of 23,318 transactions amounting to a total value of AED 48.665 billion.