Dubai continues to show massive growth in various fields that include real estate and property business during recent years.
One of the seven emirate’s real estate market remains attractive to foreign investors across the globe. It never fails to consistently attract interest from Dubai-based developers.
Dubai Land Department (DLD) data revealed that the total value of transactions from January to November 2018 was equivalent to AED 194 billion in Dubai’s dynamic real estate market.
During that 11-month period, a total of 33,888 investments were made by 26,728 investors with an equivalent of AED 62 billion investments made.
It was revealed that the top foreign investors in Dubai’s real estate market are Indians, British, Pakistanis and Jordanians. They were accounted as making nearly one-third of total investments during January 2018 to November 2018 period.
Making it to the top of the list are Emiratis. They were the top investors among GCC nationals in the local real estate sector, investing over AED 11.5 billion.
They were followed by Indians, British, Pakistanis and Jordanians with AED 10.8 billion, AED 4.3 billion, AED 2.8 billion AED 1.5 billion respectively.
Chinese, Egyptian and Canadian also contributed to the total transaction value of last year.
According to the DLD, GCC nationals made over 8,096 transactions by 5,946 investors during January-November 2018. The total transaction value is of AED 16.5 billion.
The local market attracted around 3,664 Arab investors, all of whom made 4,641 investments, which totaled to a value of AED 7.6 billion. While on the other hand, over 17,118 foreign investors made 21,151 transactions that was worth over AED 37 billion.
Additionally, women also played a role in the property sector. 8,385 of women investors were responsible for worth of AED 16.3 billion of a total of 9,723 investments.
In 2017, Indian investors were accounted for AED 15.6 billion in Dubai's realty sector while Saudi investors, who were the third-biggest in 2017, pitched in AED 7 billion, British with AED 6 billion and Pakistani with AED 5 billion.
Over the last few years, the property prices and rentals have been under pressure and have fallen consistently all due to surplus. However, the real estate market is expected to augment this year all due to increase number of expats, the upcoming Expo 2020, tourism and logistics and much more, that will strengthen and support the real estate market. The property sector is undeniably moving towards efficient and affordable market and it’s growing in healthy ways.
According to DLD, areas such as Business Bay, Marsa Dubai, Al Warsan, Al Barsha South Fourth, Al Merkadh, Burj Khalifa generated the greatest total transactions in that order, respectively.