Dubai real estate needs more institutional investors: Rera chief

dubai - Pakistanis have been among the top five investors in Dubai's real estate market

The Dubai property sector needs more hedge fund investors from Pakistan and other countries, the chief of the Real Estate Regulatory Authority (Rera) said on Friday.

"In the last three years, Pakistanis have been among the top five investors in Dubai's real estate market. We need to bring more hedge funds and  institutional investors to the city," said Marwan bin Ghalita, the CEO of Rera.

Bin Ghalita was speaking to the media after inaugurating the second edition of the two-day Pakistan Property Show, where more than 60 developers from the country are taking part.

The Rera chief stressed that Dubai's real estate market is well-organised and the Dubai Land Department's promotion centre is sharing data to show investors return on investments.

"Brands of Dubai real estate are all over the world now. We always emphasise on rules and regulations, trust in the city's real estate sector and innovation. The Land Department is putting all the systems in place to make transactions and getting information easier. This will cater to the happiness of investors," said bin Ghalita.

"I also see some Dubai developers participating in this exhibition with projects in Pakistan. This reflects knowledge transfer between developers of the two countries," he added.

According to the DLD, 32,083 Pakistani investors deployed Dh57 billion in Dubai real estate through 46,058 transactions from 2008 to 2017.

- waheedabbas@khaleejtimes.com