Indians
have been ranked first among foreign investors in Dubai's real estate
sector, making a total of 4,417 transactions worth nearly USD 3
billion in the first half of the year, according to an official
report. Indians, British and Pakistanis ranked top three foreign
investors in Dubai's real estate market with a combined share of
Dh20.83 billion for 9,739 transactions in the first half of the year,
according to the report by the Dubai Land Department (DLD). The DLD's
list included the amount of real estate transactions conducted by
foreign nationals, with investors from India, Pakistan, Britain,
Canada, Russia, China, USA, France and Afghanistan involved in 14,231
property deals worth a total of Dh 30.533 billion for the first half
of 2014. Indian nationals were ranked first for foreign investment,
making a total of 4,417 transactions worth Dh 10.523 billion (USD
2.865 billion), Khaleej Times reported. British investors were in
second place with 2,258 transactions worth Dh5.811 billion, followed
by Pakistani investors with 3,064 transactions worth Dh 4.5 billion.
Iranian and Canadian investors came in at fourth and fifth place,
with transactions worth Dh2.7 billion and Dh1.9 billion respectively.
Citizens from Russia, US and China occupied sixth, seventh and eighth
places respectively, creating more than one billion dirhams worth of
property invested in each category of national. "We are
extremely proud of these positive results, as they reflect a building
momentum in Dubai's real estate market which has now reasserted
itself on both the regional and global stage. We are certain that the
future will see even more demand, especially in light of the
government's declaration of forthcoming major projects," said
Sultan Butti bin Mejren, Director-General of DLD. The government
organisation accompanied their announcement with a breakdown of
nationalities making property investments in the first six months of
2014, which reported that Jordanians topped the list of Arab
investors, with Indian nationals ranked first for foreigner
investment.
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