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

Indians invested Dh15.6 billion in Dubai's real estate in 2017.
(File photo)
They are the largest foreign investor group in Dubai's real estate
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
-
KT Network
CIOMajlis widens scope in support of designing...
Organisation aligns with UAE's development vision for the next 50... READ MORE
-
Local Business
Is remote working a new normal in UAE?
A large percentage of professionals across various sectors in the UAE,... READ MORE
-
Local Business
Connected retail market to hit $82.31b in 2025
During the forecast period of 2017 to 2025, the demand in the global... READ MORE
-
Local Business
Julphar says large part of its injectable vials...
Ras Al Khaimah-based pharmaceutical firm Gulf Pharmaceutical... READ MORE
-
Coronavirus Pandemic
India-Dubai travellers must get Covid test 48 hrs ...
Currently, passengers are required to undergo RT-PCR 72 hours before... READ MORE
-
Coronavirus Pandemic
Sometimes, I forget to end my fast, says doctor
The hospital gets all kinds of emergency cases and saving their life... READ MORE
-
Rest of Asia
Video: Man 'out-races' speeding train to save...
The man is being rewarded for his alertness and daring which helped... READ MORE
-
Coronavirus Pandemic
Covid-19: UK puts India on red list for travel...
UK health secretary says the decision comes after detection of over... READ MORE



