Indians are the most active property investors in 2012, DLD reports
17/02/2013
Real Estate Market in Dubai has slightly recovered since the second half of 2011. From then on, it has continued to witness positive results such as increasing demand for properties; increasing of property prices; recommencing of stalled projects; returning availability of mortgage providers; and the re-emerging of confidence in the market.
Based on the report from Dubai Land Department (DLD), which was established in 1960 by an order from late Ruler of Dubai, Sheikh Rashid Bin Saeed Al Maktoum, with a mission to safeguard all the property rights in the Emirate, it said that the above-mentioned property industry has gained impressive amounts spent both by foreign and local investors in 2012; for it was around $16 billion in which the $12.4 billion was spent by non-nationals in particular.
In fact, 30 per cent of the properties was purchased by Gulf Cooperation Council ( GCC) Nationals that spent almost a total of $4.8 billion; while the UAE Nationals also bought some properties worth of $3.5 billion in total. Then, with regards to properties purchased by foreign investors, according to DLD, the Indian Nationals were the most active investors because they have spent around $2.5 billion; and followed by investors from UK that spent at least $1.36 billion; $1.09 billion from Pakistanis; and $545 million worth of properties spent by Russians.
Now, as Director-General of Dubai Land Department, Sultan Butti Bin Mejrin, he said that such results were just the reflection of the Emirate’s recovery from the huge impact of the so-called 'Economic Crisis’ as well as due to direct supports provided by the Local Government of Dubai itself.
Based on the report from Dubai Land Department (DLD), which was established in 1960 by an order from late Ruler of Dubai, Sheikh Rashid Bin Saeed Al Maktoum, with a mission to safeguard all the property rights in the Emirate, it said that the above-mentioned property industry has gained impressive amounts spent both by foreign and local investors in 2012; for it was around $16 billion in which the $12.4 billion was spent by non-nationals in particular.
In fact, 30 per cent of the properties was purchased by Gulf Cooperation Council ( GCC) Nationals that spent almost a total of $4.8 billion; while the UAE Nationals also bought some properties worth of $3.5 billion in total. Then, with regards to properties purchased by foreign investors, according to DLD, the Indian Nationals were the most active investors because they have spent around $2.5 billion; and followed by investors from UK that spent at least $1.36 billion; $1.09 billion from Pakistanis; and $545 million worth of properties spent by Russians.
Now, as Director-General of Dubai Land Department, Sultan Butti Bin Mejrin, he said that such results were just the reflection of the Emirate’s recovery from the huge impact of the so-called 'Economic Crisis’ as well as due to direct supports provided by the Local Government of Dubai itself.
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