Emiratis top investors in realty

GCC investment in Dubai's real estate market has exceeded a total of AED19 billion, according to latest figures by the Dubai Land Department. The Dubai Land Department (DLD) said the total amount of GCC investment in Dubai’s property market for the first half of the year had exceeded AED19 billion, according to The National.
Emirati investment formed the lion’s share, according to the DLD’s research and real estate studies department report, with UAE nationals making transactions worth AED12.5bn in Dubai’s property sector in the first six months.
“UAE investors … were placed at the GCC top spot well above all other investors in Dubai’s real estate market,” said Sultan Butti, the director general of the land department. “The figure indicates the great demand from UAE nationals in investing in property in Dubai, and sends out a reassuring message to all other categories of investor. In addition to strengthening confidence in the market, it provides solid foundations that will ensure its sustainability and long-term stability,” he added.
DLD’s report revealed citizens of Saudi Arabia were in second place on the list of GCC property investments after completing 1,121 transactions worth Dh3,371bn in the first half. Qataris had 113 transactions worth AED1,463bn, Kuwaitis made 263 purchases worth AED839 million and Omanis were in the fifth spot with deals worth AED482m.

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