5.13 PM Saturday, 13 July 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:09 05:34 12:27 15:49 19:15 20:40
13 July 2024

Revealed: Top investors in Dubai real estate 2012 – and guess how much they spent?

By Parag Deulgaonkar

UAE nationals topped the list of investors in Dubai’s real estate in 2012 while Indians came second in the list of top property buyers, Dubai Land Department (DLD) data shows.

Total investments by Gulf Cooperation Council, Arab and foreign investors reached Dh58.6 billion last year with the total number of investors reaching 18,635. Foreign investors numbering 13,573 invested Dh36 billion in Dubai property.

Indians continued to remain top expatriate investors, purchasing properties worth Dh9 billion. British citizens came second with Dh5 billion followed by Pakistanis with Dh4 billion.

Iranians invested Dh3 billion while Russians spent Dh2 billion.

Various nationalities, which included Americans, Canadians, Italians, French and others, invested a total of Dh16 billion, DLD data shows.

Nearly 2,955 GCC nationals invested Dh17.7 billion in the past year in plots, apartments and villas, playing a vital role in the recovery of the market.

UAE nationals took the lead with Dh13 billion in property investments, followed by Saudi nationals who pumped Dh2 billion into the sector.

Over 2,109 Arab investors invested Dh5 billion with Jordanians topping the chart followed by Lebanese, Egyptians and Iraqis.

Sultan Butti Bin Mejrin, Director-General, DLD, said these figures reflect the growing recovery in the real estate sector with direct support from the local government which has spared no effort to stabilise the market, enhancing real estate investments and boosting investor confidence.

Last month, DLD said that the total value of real estate transactions in Dubai had increased by eight per cent to Dh154 billion in 2012 compared to Dh143 billion in 2011.


Million-dirham trap: MFR property scam drawing to painful close

'ARABS' car plate on auction in UAE... for a paltry starting amount of £250,000


Heavy Fog: Morning mist blinds Sharjah traffic; Low visibility in some parts of Dubai