Investors to bank on UAE’s vibrant real estate market
The UK, India and Pakistan top Dubaiís real estate investor list
Dubai —The 13th edition of Cityscape Global will see a very strong turnout from visitors across the world — in particular the United Kingdom, India and Pakistan — as they look to maximise their investment potential in the UAE.
The UK, India and Pakistan top Dubai’s real estate investor list and investors from all three have sent a powerful message to the international community that the Middle East is a safe haven for investment.
According to the Dubai Land Department, or DLD, the total sum of foreign investment in Dubai’s real estate market exceeded £6.1 billion, with British investors responsible for 16 per cent of these transactions, highlighting the strengthening investor confidence in the property industry.
Ranked in the top three foreign investors in Dubai’s real estate sector for 2014, behind India and ahead of Pakistan, these figures emerge as thousands of British investors prepare to descend upon the Middle East’s largest property showcase, Cityscape Global, to be held at the Dubai World Trade Centre starting tomorrow.
Wouter Molman, director of Cityscape Group, believes the success of government policies in regulating the market has ensured foreign investor confidence has been restored.
Molman said: “Based on findings from the Dubai Land Department, the sum of international real estate transactions for 2013 exceeded £18.5 billion, nearly half of the £38.3 billion total. Foreign nationals from 162 countries conducted property transactions in Dubai, further underlining the strength and stability of the market.”
“The indications for the start of 2014 have also continued in a similar pattern, with investors from India, Pakistan and the UK spending more than £3.3 billion in the emirate’s real estate market, accounting for 55 per cent of the total amount invested in the first half of 2014.”
Continuing its strong international appeal, the exhibition will feature eight international pavilions.
Organised by Informa Exhibitions and supported by the DLD, Cityscape Global runs from September 21 to 23, providing the annual meeting point for key real estate investors, developers, investment promotion authorities, architects, designers and other real estate professionals to drive growth in real estate investment and development across emerging markets globally.
Christophe Reech, panelist at the Global Real Estate Summit, believes that the Middle East can become a safe haven for investors if the real estate sector offers investors transparency, maturity and visibility.
“The Middle East property sector is going in the right direction by adopting international standards, in terms of transparency and market rules, which is increasing investor confidence in the market,” said Reech.
“International investors are attracted by this level of rationality and can recognise that the Middle East is a promising and exciting market to be a part of. As long as investors understand the cycles, and know that the pipeline of development is not timed randomly but follows a logical pattern, then they can carry out their investments with certainty.”
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