India second largest investor in Dubai’s real estate sector

India has emerged in second spot on the list of top 10 investors in the Dubai real estate sector. However, the list is topped by UAE nationals themselves who made the largest investment of about AED37.4 billion.

Dubai Land Department has released the list of top 10 nations that invested in the city’s real estate sector from January 2016 to June 2017.

Attracted by the Dubai real estate sector, Indian citizens have invested about AED20.4 billion through 10,628 transactions. Pakistani nationals have made 5,398 real estate transactions investing about AED7 billion.

India has become the  second largest investor in Dubai’s real estate sector.
India has become second largest investor in Dubai’s real estate sector. Photo courtesy:

UAE nationals have concluded about 12,000 transactions in the given period investing about AED37.4 billion.

Saudi Arabians led the Gulf nations with 5,366 transactions worth AED12.5 billion and UK citizens took pole position among the European nationalities with 4,188 transactions worth AED9 billion.

Releasing the figures, Sultan Butti bin Mejren, Director General of Dubai Land Department, said, “217 nationalities have invested a total of AED151 billion in Dubai’s real estate market. This demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system that provides safety and security for all parties.” 

He added, “This list has been unveiled at a time when our real estate market is preparing for a new phase of growth in the run-up to Expo 2020. We are pleased to have witnessed such a high level of interest from global citizens in Dubai, who have invested over Dh151 billion across 71,000 real estate transactions in just 18 months.”

Egypt, China, Jordan, Lebanon and US are the other countries who made it to the list of top 10 investors in Dubai.