Which GCC nationality most active in Dubai property market?

Investment by UAE nationals in Dubai’s real estate market touched Dh12.5 billion in the first half of 2014, making them the top Gulf Cooperation Council (GCC) investors, according Dubai Land Department data.

Investors from other GCC countries — Bahrain, Kuwait, Qatar, Oman and Saudi Arabia — pushed in another Dh6.5 billion, taking the total investment from the GCC nationals to reach Dh19 billion.

UAE nationals made 2,513 transactions worth Dh12.568 billion followed by Saudi Arabia at the second position with 1,121 transactions, worth Dh3,371 billion.

Qataris came in at third place with transactions worth Dh1,463 billion, followed by Kuwaitis who invested Dh839 million and Omanis with investments of Dh482 million. Bahrain occupied the sixth position with transactions worth Dh247 million.

Sultan Butti bin Mejren Director General, DLD. (SUPPLIED)

“The figure indicates the great demand from UAE nationals in investing in property in Dubai and sends out a reassuring message to all other categories of investor,” said Sultan Butti bin Mejren Director General, DLD.

“In addition to strengthening confidence in the market, it provides solid foundations that will ensure its sustainability and long-term stability.”

In the first quarter, UAE nationals had made investments worth Dh7 billion, Saudi Dh1.8 billion, Qatar Dh1.25 billion, Oman Dh344 million, Kuwait Dh312 million and Bahrain Dh160 million, respectively.

UK-based property research firm Knight Frank said in June that Dubai’s property prices rose at the fastest pace in the world, with prices rising 27.7 per cent in the year to the end of March.

Dubai will see a supply of 90,000 new units by 2018, HSBC Global Research, has said, but the market will absorb - fairly easily – the new supply even if the population grows less than 5 per cent per year.

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