149 nationalities invest $15 billion in 2016 Dubai . . .
Dubai has over these recent years acquired a deserved notoriety of most attractive business centre of the MENA south east region and as such, it does pull in a great deal of worldwide investment in as diverse a range of sectors as it can locally offer. This article examines the Nationalities investing in 2016 Dubai, is however not only interested in the investors country of origin but also in the levels of investments.
Dubai is well known these days by all, that retail and all related trade, storage, transportation, etc. are its greatest forte and as a matter of consequence, property of all estate type has become as put by Sultan Butti Bin Merjen, director general of the Dubai Land Department (DLD), who was heard saying : “The Dubai real estate market has managed to maintain its robust appeal this year and is now emerging as one of the foremost property investment destinations in the world, bolstered by the decline in some regional economies and serious challenges faced by other countries around the globe. The diversity of the investor base reflects the extensive ranges of different products offered by the real estate sector in Dubai, along with the quality and trust that investors place in its national economy.”
In effect, property is obviously the most apparent and the DLD reported that in the first half of 2016, a total value of foreign investment in the Dubai real estate market reached more than $7.6 billion, in as much as 14,314 investments from 149 different nationalities.
GCC citizens in 8,000 transactions, contributed $5.9 billion to the Dubai property market. UAE’s nationals were of course made the greatest number, with their transactions totalling $3.9 billion through 4,543 operations.
Citizens of Saudi Arabia came in at second place with transactions aggregating $1 billion from 1,946 investments.
Kuwait nationals, with 743 investments worth more than $272 million were followed by Qataris, Omanis and Bahrainis in that order.
Indian nationals, by far the most predominating ethnic group of the GCC’s came in top of the investor table, making more than $1.9 billion worth of property purchases from 3,656 transactions.
The British were listed second with a total of approximately $1 billion worth of property resulting from 2,010 deals, while Pakistani investments were third with $816 million, arrived at from 2,073 transactions.
Arab nationals from outside the GCC invested more than $1.9 billion into Dubai’s real estate, with 7,577 investment actions made by 16 different nationalities. Jordanians were ranked first, with investments of over $407.6 billion through 765 transactions followed by Egyptians with a total of $372.3 billion in 710 transactions and Lebanese at over $271.7 billion in 423 transactions.