Emiratis top in Dubai’s real estate market investment
Dubai, August 19, 2014
Emiratis accounted for Dh12.54 billion ($3.41 billion) or 66 per cent of the total Dh19 billion ($5.1 billion) pumped into Dubai’s real estate market by GCC nationals in the first half of 2014, sending a message across the world that the region remains a safe haven for property investors.
The figures were released by the Dubai Land Department ahead of the Cityscape Global, the Middle East’s largest property showcase, which will take place from September 21 to 23 at the Dubai World Trade Centre in Dubai, UAE.
Outside of the GCC, investors from India, Pakistan and the UK made up the top three nationalities who visited the three-day event last year.
Wouter Molman, director of Cityscape Group, believes the success of government policies to regulate the market has ensured foreign investor confidence has been restored.
“Based on findings from the Dubai Land Department, the sum of international real estate transactions for 2013 exceeded Dh114 billion, nearly half of the Dh236 billion total. Foreign nationals from 162 countries conducted property transactions in Dubai, further underlining the strength and stability of the market,” said Molman.
“The indications for the start of 2014 have also continued in a similar pattern, with investors from India, Pakistan and the UK spending more than Dh10.8 billion in the emirate’s real estate market, accounting for 31 per cent of the total amount invested in the first quarter.
“At Cityscape Global this year we expect a very strong turnout from visitors across the world, and in particular these three countries as they look to maximise their investment potential here.”
Organised by Informa Exhibitions and supported by the Dubai Land Department, the event will provide the annual meeting point for key real estate investors, developers, investment promotion authorities, architects, designers and other real estate professionals to drive growth in real estate investment and development across emerging markets globally.
It will feature eight international pavilions, led by more than 2,000 sq m from Turkey, featuring more than 30 companies, including Ağaoğlu, Eroğlu, Gayrimenkul, Garanti Koza, Kuzu Grup, Torunlar GYO, İŞ GYO, NEF and Viatrans who will all showcase their latest mega-projects.
Co-located with Cityscape Global are three dedicated conferences – the Global Real Estate Summit, Future Cities and the Real Estate Brokers Summit, which will bring together more than 1,000 delegates and speakers who will explore opportunities and find solutions to key challenges affecting the industry today.
The event will also feature the Cityscape Awards for Emerging Markets. The awards programme has attracted hundreds of entries from developers and architects behind real estate developments across emerging markets globally.
The submissions are now being reviewed by an independent judging panel and 13 winners will be announced at an elaborate ceremony taking place at the Armani Hotel, Burj Khalifa on September 22. - TradeArabia News Service