Indian, British and Pakistani purchasers topped the list of non Gulf area overseas property investment in Dubai in 2015, according to official figures. Indians represented AED20 billion ($ 5 billion) of transactions in 2013, followed by British buyers with AED10 billion and Pakistanis with AED8 billion, according to the latest information from the Dubai Land Department (DLD). However, customers from the Gulf Co-operation Council mentions accounted for practically a third of sales, investing AED44 billion and Emiratis accounted for half of that at AED26.08 billion. Generally, the data reveals that 55,928 capitalists from 150 races spent a total of AED135 billion or $ 26 billion in Dubai property during 2015. Customers from Saudi Arabia spent AED9 billion in property and also those Kuwait accounted for AED3 billion of investment, followed by investors from Qatar, Oman and Bahrain. The information also show that Arabs from outside the GCC spent a total of AED16 billion in the Dubai genuine estate market, with Jordanians ranking the greatest value investors with AED3.5 billion. Egyptians invested AED2.55 billion and Lebanese nationals spent AED2.53 billion. Substantial investments were additionally made by nationals from Iraqi, Yemen, Sudan, Palestine, Libya, as well as Algeria. According to Sultan Butti Container Merjen, director-general of the DLD the sheer variety of capitalists in Dubai’s property market is a frustrating endorsement of the emirate’s international interest home investors. ‘Dubai takes pleasure in an exceptionally high level of acceptance from international capitalists due to its features and also return on investment,’ he said. ‘We are reassured with the dimension of investments from UAE citizens, along with the massive need from the GCC which provides the market with a strong guard from seasonal variations,’ he added. Continue reading
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