Emiratis and Indians top investor charts in Dubai realty
Property and plot transactions in Dubai totalled Dh162 billion (from 39,802 deals) in the first nine months compared to Dh204 billion a year ago.
Investments by Emiratis and Indians are at near parity so far this year — the former had 4,112 investments worth Dh9.4 billion, while Indian buyers backed 4,676 investments worth Dh8.6 billion.
The Saudis came in third with 1,882 investments worth around Dh3 billion, followed by Pakistanis who had 1,851 investments worth Dh2.3 billion.
The tally of real estate investments up to end September was Dh50 billion, of which Dh30.2 billion were brought in overseas investors.
“These positive repercussions will continue to resonate in the short- and long-term by introducing new sales categories for either personal use or for investing,” said Sultan Butti Bin Mejren, Director-General of Dubai Land Department, in a statement.
In the year to September, there were 25,473 transactions worth more than Dh56.6 billion, another 11,000 mortgage transactions worth over Dh86 billion, and 3,486 other transactions valued at Dh19.3 billion.
Indian investments were at Dh8.6 billion, British passport holders had over Dh3.4 billion and Pakistanis’ Dh2.3 billion. The Chinese presence continues to build up and now totals Dh1.7 billion.
Among the top 10 areas in terms of numbers and value of transactions, Business Bay attracted 2,644 transactions worth Dh5.31 billion. Dubai Marina came in second in value.
Credited to: Gulf News