Who are the biggest spenders in Dubai’s real estate market?
Dubai Land Department (DLD) has revealed the top 10 nationalities that invested in Dubai’s real estate market between January 2016 up until the end of June 2017.
The results confirm that UAE nationals are the most active, outperforming all other nationalities.
Sultan Butti bin Mejren, director general of DLD announced that 217 nationalities have invested a staggering $41 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 charecterised by a strong regulatory system that provides safety and security for all parties.” He stated.
Emiratis made near 12,000 investment transactions worth $10.1 billion, while Indian, Pakistani, Saudi Arabian and British investors ranked second, third, fourth and fifth respectively for the number of registered transactions.
Bin Mejren added: “This list has been unveiled at at a time when our real estate market is preparing for a new phase of growth in the run-up to the World Expo 2020. We are pleased to have witnessed such a high level of interest from global citizens in Dubai, who have invested over $41 billion across 71,000 real estate transactions in just 18 months.”
Aditionally, Indian investors made 10,628 transactions worth more than $5.5 billion, while Pakistani nationals made 5,398 real estate transactions worth approximately $1.9 billion.
Saudi Arabians accounted for 5,366 transactions worth $3.4 billion, UK citizens topped the European nationalities with 4,188 transactions worth $2.4 billion.
Three other Arab countries entered the list with other investors including citizens from Egypt, China, Jordan, Lebanon and America placing in sixth to tenth places respectively with 2,439 transactions worth over $1 billion.