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21 February 2024

Who is the top Dubai property buyer?

The country stood 25th in 2013, 24th in 2014 and 23rd in 2015 world ranking. [Shutterstock]

By Parag Deulgaonkar

Indians continue to top the list of expatriate property buyers in Dubai, but UAE nationals take the top spot in the investors’ list, according to Dubai Land Department (DLD).

Data analysed by Emirates 24|7 reveals that total investment by Indians in the realty market increased marginally to Dh18.123 billion from Dh18 billion in 2013.

Britons, who had invested Dh10.4 billion in 2013, saw their investments decline to Dh9.318 billion, taking the second position on the expat buyer list, with Pakistanis coming third on the list with property purchases worth Dh7.588 billion (Dh8.6 billion in 2013).

The total value of non-Arab investment in Dubai’s real estate market was Dh64 billion through 29,098 transactions compared to over Dh69 billion in 2013.

Iranians and Canadians invested Dh4.5 billion and Dh3.157 billion, respectively, in 2014. No comparative data for the previous year was available.

Citizens of Gulf Cooperation Council (GCC) states bought property worth Dh32 billion through 7,186 investors in 2014.

Emiratis invested Dh22.771 billion, registering 4,452 transactions, while Saudis came second with 1,745 transaction worth Dh5.207 billion.

They were followed by Kuwaitis who made 426 transactions of Dh1.271 billion; Qataris with 221 transaction of Dh1.969 billion, and Bahrainis with 187 transaction of Dh483. Investors from Oman put in Dh613 million in 119 transactions.

Arab investors registered a total of 5,431 transactions worth over Dh12 billion. Jordanians ranked No.1 with 1,028 transactions of Dh2.513 billion.

They were followed by Egyptians with 874 transaction of Dh1.768 billion, followed by Lebanese with 785 transaction of Dh2.068 billion. Iraqis came in the fourth place with 650 transactions of Dh1.631 billion.

There are more than 140 nationalities investing in the property market here, with total real estate transactions amounting to Dh218 billionn in 2014.

“The Dubai real estate market proves that it is the ideal investment location in the Middle East and it is also competing with top investment cities in Asia and Europe,” said DLD Director-General Sultan Butti Bin Merjen.