A total of 17,289 real estate deals worth $10.2 billion or AED37.5 billion was recorded in the first six months of 2014 as stated by the Dubai Land Department (DLD).
DLD included the rundown of nationalities who comprises the total property investments. According to the report, Jordanians ranked first in the list of foreign investors while Indian nationals got the same position for foreign investments.
These positive results are sign of a building drive in Dubai’s real estate market which has now re-establishing itself on both the regional and global stage. It is expected that even more demand will be received in the future, particularly now that upcoming major projects has been confirmed by the government.
According to the Research and Real Estate Studies Department of DLD, Arab investors accounts to the 3,058 dealings or AED6.905 billion in half a year. This entirety can be broken down to 640 transactions made by Jordanians amounting to AED1.347 billion, followed by the Lebanese nationals with 459 real estate deals for a total of AED1.235 billion. Egyptians ranked third having transactions amounting to AED1.009 billion. Investors from Yemen, Sudan, Palestine, Iraq, Libya, and Algeria were involved in transactions below one billion dirham each.
As for the foreign investors, India, Pakistan, Canada, Britain, China, US, France, Russia and Afghanistan got 14,231 real estate deals for a total of AED30.533 billion. Indian nationals ranked first with 4.417 transactions or AED10.523 billion. British investors reached second place having 2,258 transactions worth AED5.811 billion, followed by Pakistani investors’ transaction amounting to AED4.5 billion. Iranian and Canadian investors arrived at fourth and fifth place with AED2.7 billion and AED1.9 billion worth of transactions respectively. Nationals from Russia, US, and China sat on sixth, seventh and eighth spots respectively with a generated investment of more than AED1 billion worth of property each.