Indians top investors in Dubai real estate
Dubai, September 30, 2013
Indian nationals came top with an investment of $2.4 billion in Dubai real estate in 2012, followed by investors from Britain, Pakistan, Iran and Russia, said a report.
This was revealed ahead of a major real estate showpiece event, Cityscape Global will take place from October 8 to 10, at the Dubai World Trade Centre.
Exhibition director Wouter Molman said: "Based on the latest report by Dubai Land Department (DLD), Dubai attracted nearly $15.9 billion in investments in 2012, making it a defining year for the real estate market.
"Investors from India, Iran, Pakistan, Russia and the UK accounted for 39 per cent of that figure, investing a combined $6.2 billion in Dubai property," he said.
"The indications in 2013 and beyond are that this increasing confidence will continue, and at Cityscape Global this year we expect a very strong turnout of visitors from all over the world, and in particular from these countries as they look to maximise their investment potential."
The total amount of all foreign investment into the Dubai property sector in 2012 stood at $9.8 billion, he said.
GCC national investors also returned to Dubai real estate in full force in 2012, injecting a combined $4.8 billion into the market. Of that figure, about 73 per cent accounted for investments by Emiratis. - TradeArabia News Service