nationalities doubled investment in Dubai property

Indian, British and Paksitani nationals more than doubled their investment in Dubai’s real estate market in 2013 compared to 2012, topping the list of 140 expatriate property buyers.

The total investment in properties by Indians rose to Dh18 billion in 2013, the latest Dubai Land Department (DLD) figures reveal. Information mailed to Emirates24|7 last year had put the Indian investment at Dh8bn in 2012.

Britons invested Dh10.4bn in 2013 compared to Dh5bn in 2012, while Pakistanis bought properties worth Dh8.6bn compared to Dh4bn in 2012.

The total value of non-Arab investment in the real estate market amounted to over Dh69bn, spread between 140 nationalities.

DLD did not give the investment figures of other non-Arab investors, but said the list includes citizens from Iran, Russia, Canada, America, China, France and Germany.

Of the Dh236bn in real estate transactions done in 2013, nearly Dh114bn was investment from 160 foreign nationalities (Arabs and non-Arabs).

GCC investors

Citizens of Gulf Cooperation Council (GCC) contributed Dh33 billion from 7,548 investors. Emiratis bought properties worth Dh24bn, while citizens of Saudi Arabia came in at second place with transactions of Dh4.6bn.