The Saudis were the second biggest buyers (after local Emiratis) in Dubai's real estate sector among the GCC countries in 2014 with a total spend of Dh22.7 billion ($6.17 billion), said a Dubai Land Department (DLD) report released ahead of a major property event.
 
The 11th International Property Show will be held from March 30 to April 1 at the Dubai World Trade Centre. This year's edition will see participation of over 130 exhibitors from more than 25 countries, said the event organiser.
 
Saudi Arabia's southward foreign direct investment (FDI) in real estate remains buoyant and the kingdom's investors are gearing up for strong participation in the upcoming show in Dubai, they added.

Josine Heijmans, the exhibition director, Strategic Marketing and Exhibitions, said investors from Saudi Arabia have always been among the top regional buyers in Dubai property and this trend is likely to continue in 2015 as the emirate's market continues to reward investors with healthy returns.

“Due to the higher transfer fees and mortgage caps, Saudi investors find the Dubai property market well regulated and an ideal location for owners, tenants and landlords. Therefore, it is natural to expect a surge in demand from Saudi investors during 2015,” noted Heijmans.

“The Saudi response to this year’s show is very upbeat. We have recorded a significant increase in registrations from Saudi Arabia in terms of investors, trade visitors and end users,” he added.

The event will see participation of leading companies such as Dubai Properties, Damac, Union Properties, Wahat Al Zaweya, Al Barari and Tebyan Real Estate Development, all launching special and discounted real estate deals for all the three days.

The show, which coincides with the leading global investment event - the Annual Investment Meeting (AIM) - is expected to attract more than 15,000 trade visitors.

Heijmans said: "Saudi investors and property experts already know the value of this expo since it is the only property show in Dubai that allows investors, decision makers and trade and retail visitors from around the world to conclude sale deals onsite."

"Our exhibitors will offer a broad offer on residential real estate services as well as a vast range of commercial real estate sales, leasing, consulting, relocation and expansion assistance services," he added.-TradeArabia News Service