According to figures released by the International Property Show (IPS) 2015, which will be held from March 30 to April 1, 2015, GCC ownership in the UAE amounted to 11,761 properties in 2012, an increase of eight per cent over 2011.
In fact, the largest share of the total property ownerships was taken up by Kuwaiti citizens, with 6,947 properties by the end of 2012, representing a whopping 59 of the total GCC property ownerships.
Dawood Al Shezawi, CEO, Strategic Marketing and Exhibitions, organisers of IPS 2015, said: “UAE continues to maintain its lead position as a hot property destination among GCC countries since 2008. In 2011, investors from Kuwait account for nearly 60% of all properties purchased by GCC nationals in the emirate of Dubai, according to figures from the UAE Ministry of Finance. The picture is still the same and the Kuwaiti investors and purchasers remain the biggest chunk of buyers in the UAE property market.”