Pakistan investments in UAE reach Dh84.4bn

Investments by Pakistani nationals in the UAE totalled $23 billion (Dh84.4 billion) while the UAE’s trade with Pakistan have reached $9 billion (Dh33 billion), said Asif Ali Khan Durrani, Pakistan’s Ambassador to the UAE.

Durrani said: “Expatriate Pakistanis had made around $23 billion investment in the UAE and over a million expatriate Pakistanis were contributing in the development of UAE.

Pakistan’s Ambassador to the UAE Asif Ali Khan Durrani (SUPPLIED)

“UAE is Pakistan’s largest trading partner within the Gulf Region with $9 billion annual trade, he added. He thanked the UAE leadership for providing a conducive working environment to expatriate Pakistanis who feel UAE as their second home.”

According to Dubai Land Department’s 2013 figures, Pakistani investors were third highest buyers among foreigners of property in the emirate’s Dh114 billion transactions last year. In Q1 2014, DLD said Pakistani investors spent around Dh2 billion to buy property in the emirate.

Durrani was speaking to business community in Ajman on Monday after a meeting with His Highness Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council of the UAE and Ruler of Ajman.

Durrani hoped that bilateral relations between the two brotherly countries, which are based on a shared faith and common destiny, would be further strengthened in all fields including cooperation in the field of defence and security.

Sheikh Humaid invited Pakistani business community to avail investment opportunities in Ajman.

Consul-General of Pakistan Javed Jalil Khattak and other senior diplomats of Pakistan Embassy and Consulate General also attended the meeting.

Durrani thanked the UAE leadership for supporting Pakistan through economic and social uplift in testing times.

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