Foreigners invest Dh43 billion into Dubai real estate
Overseas investors accounted for the majority of property investments in Dubai during the first nine months of 2017. A staggering Dh43 billion in Dubai real estate through 22,600 transactions, the Dubai Land Department (DLD) reported.
Gulf nationals came in second place, investing almost Dh29.5 billion across 11,000 transactions. The market also interested Arab financial investors who accumulated 6,800 land exchanges worth over Dh11 billion.
The overall value of the real estate investments made in Dubai in the initial nine months of 2017 surpassed Dh84 billion.
Women of different nationalities have additionally been investing more into the Dubai property market in the first three quarters. More than 9,000 ladies made 11,000 exchanges worth over Dh21 billion.
Sultan Butti bin Mejren, director General of DLD, said: "The real estate market continues to maintain its momentum, driven by a general optimism among Gulf, Arab and foreign investors. The Dh84 billion worth of real investments made during this period is also a sign of sustainable growth and the market's ability to absorb the developer demand for residential, commercial, office and industrial properties. The real estate market is in full harmony with other economic sectors in the city."