REVEALED: WHO IS SPENDING MOST IN DUBAI'S REAL ESTATE MARKET
Dubai Land Department publishes list of the top 10 nationalities that invested in Dubai property over past 18 months.
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 most active, outperforming all other nationalities. Sultan Butti bin Mejren, director general of Dubai Land Department, revealed that 217 nationalities have invested a total of AED 151 billion in Dubai's real estate market during the period.
"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," he said in a statement. 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."
Emiratis made close to 12,000 investment transactions worth AED 37.4 billion Indian investors made 10,628 transactions worth more than AED 20.4 billion Pakistani nationals made 5,398 real estate transactions worth approximately AED 7 billion. Saudi Arabians were involved in 5,366 transactions worth AED12.5 billion UK citizens took pole position among the European nationalities with 4,188 transactions worth AED 9 billion.
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 AED4 billion. (Source: Arabian Business 28th August 17)