Dubai Land Department (DLD) announced that a total of AED151bn ($41.1bn) was invested by foreigners in Dubai property market in the last 18 months.
According to the report by Wam, DLD’s list of top 10 nationalities that invested in the emirate’s realty market between January 2016 and the end of June 2017, confirms that UAE nationals are in the lead, outperforming all other nationalities.
Sultan Butti bin Mejren, director-general of Dubai Land Department, said: “Up to 217 nationalities have invested a total of Dh151bn 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.”
DLD’s research found out that Emiratis made close to 12,000 investment transactions worth AED37.4bn, while Indian, Pakistani, Saudi Arabian, and British investors ranked second, third, fourth, and fifth respectively, in terms of the 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 AED151bn across 71,000 real estate transactions in just 18 months.”
Indian investors made 10,628 transactions worth more than AED20.4bn, while Pakistani nationals made 5,398 real estate transactions worth approximately AED7bn. Saudis led the Gulf nations, with 5,366 transactions worth AED12.5bn and UK citizens lead among the European nationalities with 4,188 transactions worth AED9bn.
Besides investors from Saudi Arabia, citizens from three other Arab countries appeared on the list, with investors from Egypt, China, Jordan, Lebanon, China, and America placing in sixth to tenth places respectively.