Dubai Land Department (DLD)’s transactions report has revealed that Dhs 57 billion was invested in Dubai’s real estate market in the first half of 2016.
The 26,000 investors comprised of 149 nationalities, majority being GCC nationals.
Sultan Butti Bin Merjen, Director General of DLD, said: “The Dubai real estate market has managed to maintain its robust appeal this year and is now emerging as one of the foremost property investment destinations in the world, bolstered by the decline in some regional economies and serious challenges faced by other countries around the globe.”
DLD’s investment report, revealed that citizens of Gulf Cooperation Council (GCC) contributed Dhs 22 billion to the Dubai property market, a figure which encompasses 8,000 transactions. Emirati investment reached Dhs 14.523 billion, which was acquired from 4,543 investments.
Citizens of Saudi Arabia came in at second place with transactions reaching Dhs 4 billion originating from 1,946 investments.
In third place were Kuwaiti nationals, with 743 investment transactions worth more than Dhs 1 billion, followed by nationals from Qatar, Oman and Bahrain.
Arab investors from outside the GCC contributed more than Dhs 7 billion to the real estate market in the first six months of 2016, with 7,577 investments made by 16 different nationalities. DLD’s report revealed that Jordanian investors were ranked first, with 765 investments worth more than Dhs 1.5 billion. They were followed by Egyptian citizens who invested Dhs 1.37 billion stemming from 710 transactions and the Lebanese whose investments amounted more than Dhs 1 billion, which was derived from 423 transactions.
The total value of foreign investment in the Dubai real estate market reached more than Dhs 28 billion, drawn from 14,314 investments belonging to 149 nationalities. Indian nationals came in top of this investor field, making more than Dhs 7 billion worth of property transactions arising from 3,656 transactions.
The British were listed second with a total of Dhs 4 billion worth of property transactions resulting from 2,010 transactions, while Pakistani investments were third with Dhs 3 billion, which was gained from 2,073 transactions.