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19 March 2024

Pakistanis homing in on Dubai properties

Published
By Staff

As the region gears up for the 15th edition of the Middle East property showcase, Cityscape Global, real estate portal Propertytrader.ae has revealed that online interest from Pakistan has risen significantly over the first six months of 2016, with searches peaking in August.

Although Pakistan is often ranked somewhere around fourth or fifth place among major investors in the Dubai real estate industry (in the non-Arab foreign investor category) –behind the UK, India, and Russia – new statistics suggest its influence is rising.
 
“It has been an eventful first half of the year with Brexit and other economic factors shaping international property trends,” said Umer Ali, Sales and Marketing Director, Propertytrader.ae.

He continued: “So it is interesting to see this gradual, but definite rise in interest over just a few months from one country – Pakistan.

“There is clearly great interest there in the upcoming Cityscape Global and the opportunities it will inevitably highlight. August’s spike in searches is no coincidence.”
 
Ali stated that Pakistan accounted for 10 per cent of all searches on the site in August – rising from 3 per cent in January.

This placed the country in the top three for the first time this year, nudging out the UK.
 
In second position in August was Russia with 18 per cent of all searches, with the UAE in first place at 48 per cent.
 
It is estimated that Pakistanis have made an investment of around Dh31 billion in the Dubai property market during the past five years, with the major portion of this investment accounted for by Pakistan expats in the UAE and wider GCC who prefer to invest in the emirate because of good rental yields.
 
Cityscape Global 2016, will take place on September 6-8 at Dubai World Trade Centre.
 
PropertyTrader.ae is a residential and commercial listings portal based in Dubai.