Indians invest Dh83.65 billion in Dubai property in 5 years

Indian nationals, who form the largest foreign investor group in Dubai's real estate, bought properties worth Dh83.65 billion in the last 5 years - from 2013 to 2017 - in Dubai's property sector, according to statistics compiled by the Dubai Land Department (DLD).

They invested Dh15.6 billion in Dubai's real estate in 2017, Dh12 billion in 2016 and Dh20 billion in 2015 - their highest in a year, according to the DLD.

"Indian nationals are the largest group of foreign investors in Dubai's real estate and as both the UAE and India strengthen strategic relationship, we see a greater synergy and increased investment by Indian nationals in UAE," Dawood Al Shezawi, head of the organising committee of Dubai Property Festival, said.

The DLD recorded 69,069 real estate transactions with a total value exceeding Dh285 billion in 2017, including Dh107 billion investment by 39,480 investors through 52,958 billion - more than 65 per cent of which is by foreign investors.

- business@khaleejtimes.com