Indians have topped the list of expatriate real estate buyers in Dubai with investments of Dh20 billion alone in 2015, Dubai Land Department (DLD) data reveals.
Data analysed by Emirates 24|7 reveals that total investment by Indians went up by over 10 per cent from Dh18.123 billion reported in 2014.
Citizens of the United Kingdom came in second with an investment of Dh10 billion, compared to Dh9.318 billion in 2014.
Sultan Butti Bin Merjen, Director General of DLD. (Supplied)
Pakistanis came in third with total realty investments of Dh8 billion. In 2014, they had invested Dh7.588 billion.
The total investment from non-Arab expats in 2015 surpassed Dh74 billion, totaling 35,162 investors.
Total investments from the Gulf Cooperation Council (GCC) members touched over Dh44 billion with investor number reaching 12,441.
UAE nationals ranked first among Gulf investors with an investment of Dh26.083 billion.
Citizens of Saudi Arabia came in second with over Dh9 billion investment followed by Kuwaitis who invested over Dh3 billion in the market.
The total value of investments by Arab investors reached over Dh16 billion, comprising 16 investor nationalities.
Jordanians came in first with investments worth over Dh3.5 billion, followed by Egyptians, who pumped in over Dh2.55 billion in the property market, followed by Lebanese who purchased properties of Dh2.53 billion.
Citizens of Iraq, Yemen, Sudan, Palestine, Libya and Algeria also were among prime investors.
Overall, more than 150 nationalities invested in the emirate’s real estate sector, with transaction amounts reaching Dh135 billion.
“The sheer diversity of investors in Dubai’s real estate market is an overwhelming endorsement of the products that we have to offer,” said Sultan Butti Bin Merjen, Director General of DLD.
“Dubai enjoys an extremely high degree of acceptance from international investors because of its attributes and its return on investment factors that have been revealed from studies on the UAE’s state of stability and the continuing growth of its economy.”
Bin Mejren added that investment from Gulf state nationals provides the market with a strong shield from seasonal fluctuations.
“We are reassured with the size of investments from the citizens of the UAE, in addition to the enormous demand from other GCC countries.
“Investment from Gulf state nationals provides the market with a strong shield from seasonal fluctuations.”
In January 2016, DLD announced that the total value of real estate transactions had jumped 22.5 per cent to Dh267 billion in 2015 compared to Dh218 billion in 2014.
Read: Dubai realty remains strong, 2015 deals hit Dh267 billion