Qataris top in Dubai real estate investment
Dubai, February 25, 2014
Qatari nationals dominated the Dubai real estate market in 2013 with a per capita investment of Dh6.71 million ($1.82 million), said a report ahead of a major property show in the emirate.
The International Property Show will be held from April 8 to 10, supported by the Dubai Land Department (DLD).
Omanis came second with a per capita investment of Dh5.77 million followed by the Emiratis who pumped in Dh4.56 million and Saudi Arabians with Dh3.71 million investment. Outside the GCC, Germany was the biggest name with Dh2.37 million investment followed by Indians who pumped in Dh2.22 million and then Britain (Dh2.11 million), stated the DLD report.
According to DLD, international real estate transactions during 2013 exceeded Dh114 billion.
The fact that the highest four per capita investment in Dubai’s realty come from GCC countries shows that the Gulf investors remain a key driver in the Emirate’s property sector, encouraged by new investor-friendly legislations, proximity and a rising confidence in a lucrative return on their investments, said the the event organisers, Strategic Marketing & Exhibitions.
The International Property Show Iwill coincide with the 4th Annual Investment Meeting (AIM) at the Dubai International Convention and Exhibition Centre, it stated.
Sultan Butti Bin Mejren, the director general of DLD said: “The figures once again reinforce Dubai’s status as a top-notch real estate investment hub in the Gulf and beyond. I foresee even stronger regional demand in 2014 and this is where specialized events like IPS will help in maximizing per capita investment from neighboring regions and the world.”
Other foreign countries which figured in high per capita real-estate transactions include France (Dh2.054 million), Russia (Dh2.051 million), Canada (Dh1.98 million) and USA (Dh1.83 million).
Strategic Marketing & Exhibitions CEO Dawood Al Shezawi said: “Overseas investments were key contributors to the turnaround of the UAE economy, driven by a maturing market, transparent legislations and regulations and a growing appetite for property investment. Our major focus in this year’s show is to expand the number of exhibitors and investors.”
“We will also be highlighting the role of regulation in driving transparency, market confidence and facilitating sustainable investment in emerging markets in conjunction with the IPS’ Official Knowledge Partner; RICS International,” added Al Shezawi.-TradeArabia News Service