Dubai Still Leading GCC Realty Market

DUBAI - Real estate projects in the Gulf Cooperation Council (GCC), particularly in Dubai, are still being actively pursued despite the worldwide economic slump, with ongoing projects already breaching the $2.39 trillion mark, said online global property portal

By Rocel Felix

Published: Wed 25 Feb 2009, 12:26 AM

Last updated: Thu 2 Apr 2015, 3:57 AM which tracks real estate deals and transactions in the GCC said that Dubai is still the leading player in the regional property market with investments from across the GCC into the emirate already crossing Dh5 billion in 2008.

It said Dubai accounted for 5.8 per cent of worldwide land sales and was the fourth highest in global land sales rankings last year.

The biggest GCC investment into Dubai came from Saudi Arabia which pumped over Dh2 billion, followed by Kuwait with Dh1 billion. Oman, a distant third invested Dh818 million; Bahrain put in Dh615 million while Qatar invested Dh117 million. said there remains a strong interest in the Dubai property sector despite a projected easing of the UAE economy to 1.5 per cent this year.

“The real estate market is facing unique challenges with issues on liquidity and investor confidence posing threats,” said Ahmet Kayhan, CEO of

“However, based on the trends, we are positive that the Dubai property market will still be the busiest, as transactions and investments will remain comparatively high.”

Kayhan said that despite the grim outlook on the UAE economy, “continuous activity” in Dubai’s real estate sector can still be expected due to government’s efforts to soften the impact of the financial crisis by providing liquidity. is offering a comprehensive collection of data on real estate deals through its product ‘DUBAIFocus.’

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