Indians are top overseas property investors in Dubai
Foreign property buyers accounted for by far the most property transactions in Dubai last year, show new figures from the Government.
Its Land Department says Dh 58.6billion was invested in Dubai plots, apartments and villas last year, with Dh45.6billion coming from non-nationals.
The top buyers were UAE nationals where 1,955 buyers invested Dh12.8billion. Altogether, 2953 GCC investors accounted for Dh17.7billion.
Indian buyers are the top overseas property investors in Dubai, with 3,514 investors spending Dh 8.652billion, followed by 2,547 British buyers at Dh5.1billion and 2,727 Pakistanis at Dh3.9billion.
Next came 1,671 Iranians, who spent Dh3billion and 894 Russians with Dh2.3billion. Other big spenders were Americans, Canadians, and the French who together put in Dh 16 billion.
Director General of the Dubai Land Department, Sultan Butti Bin Mejrin, says the “figures reflect the growing recovery in the real estate sector with direct support from the local government which has spared no effort to stabilize the market.”
He said the Land Department was focused on achieving property revival and attracting new investments and claimed that foreign investor confidence in the Dubai property sector was unlimited.
The Dubai Property Sector was seeing an overwhelming response from investors, which showed Dubai’s ability to fully recover from the impacts of global financial crisis and demonstrated the vitality and resilience of its economy.