Indians biggest buyers of Dubai property with Dh3.7bn spent

Over Dh22 billion was invested by foreign nationals in Dubai’s realty market in the first half of 2012 with Indians topping the list in value terms, followed by Britons.
The total number of properties (buildings, lands, apartments and villas) sold during the first half touched 12,875 units, Dubai Land Department said in a statement.
Indians bought a total of 2,153 properties worth Dh3.751 billion followed by Britons who purchased 1,564 properties worth Dh 2.53 billion.
Pakistanis invested Dh1.71 billion to purchase 1,814 properties, while Russian and Iranian investors competed for the fourth and fifth positions. Iranians bought 1,057 properties worth Dh1.52 billion while Russian purchased 694 properties for Dh1.44 billion.
Saudis purchased 416 units valued at Dh1.06 billion, followed by Americans who invested Dh694 million to buy 415 properties.
Canadians bought 329 properties worth Dh754 million. Jordanians purchased 268 properties worth Dh460 million, while investors from other nationalities bought 4,165 properties valued at Dh8.23 billion.
Majida Ali Rashid, Chairwoman of the Real Estate Investment Promotion and Management Center, said: “The real estate sector performance is moving from strength to strength over the past two years.
"The market has been attracting more foreign investors, which reflects the solid national economy and its excellent growth potentials.”
She added that the increased investor confidence in Dubai properties and the growth of deals and transactions in terms of quality and quantity represent positive indicators for further growth, which the government of Dubai is seeking and nurturing to secure a better future for the country and its citizens.