Indians generated most foreign investment in Dubai, with investments amounted AED 18 billion
Dubai, UAE, January 20, 2015: The Dubai Land Department (DLD) has announced that the sum of real estate investment transactions for 2014 exceeded AED 109 billion, through 41,715 investor. The report issued by Real Estate Research and Studies Department has shown a clear ability to gain momentum and maintaining sustainable growth, and this is how it started three years ago.
Commenting on the results, HE Sultan Butti Bin Merjen, Director General of DLD, said: "The Dubai real estate market proofs many facts, topping it that Dubai is the ideal investment location in the Middle East, and it is also competing with top investment cities in Asia and Europe. The report clearly shows the sustainable growth of the upcoming years towards the launch of Expo2020."
The DLD investment report, which tracks the department's real estate transaction activities over the course of the year, revealed that citizens of Gulf Cooperation Council (GCC) states contributed AED 32 billion from 7,186 investors in 2014. Emirati investment formed the lion's share of this figure with total transactions of AED 22.771 billion amounted from 4,452 transactions, while citizens of Saudi Arabia came in at second place after making transactions worth AED 5.207 billion amounted from 1,745 transaction, followed by Kuwaiti nationals after making 426 transaction worth of AED 1.271 billion, following them Qatari nationals after making 221 transaction worth of AED 1.969 billion, and Bahraini nationals after making transactions worth of AED 483 million through 187 transaction. Finally investors from Oman invested AED 613 million through 119 transaction.
Arab investors contributed significantly to real estate activity last year, with their total value of 5,431 transactions, amounting to more than AED 12 billion. DLD's report revealed that Jordanian investors ranked highest in terms of number of transactions with total 1,028 transactions at nearly AED 2.513 billion worth of deals. They were followed by citizens of Egypt with 874 transaction with a total of AED 1.768 billion, followed by Lebanese investors with a total of 785 transaction with a total amount of AED 2.068 billion, with Iraqi nationals came in fifth place with 650 transaction with a total amount of AED 1.631 billion. They were followed by Yemen, Sudan, Palestine and Morocco.
"The report reveals the attractiveness of Dubai real estate market, specifically as in one year the market was able to attract this amount of investors from around the world, and it majorly reveals investors trust in the market" said Bin Mejren.
