A report issued by Dubai Land Department (DLD) stated that 3,294 Saudi Arabian investors made transactions worth AED8 billion in the real estate market in Dubai in 2016. The statistics demonstrate an annual growth in the real estate
investment in Dubai by GCC investors, particularly from Saudi Arabia. Saudi Arabian investors occupy the second position among the non-local real estate investors in Dubai with the Indian investors in the first position.
“The Saudi investments in Dubai’s real estate market are governed by quantitative and qualitative investments. The prime reason for the investments is the positive investment climate offered by Dubai, along with the economic stability in the city, which promises lucrative returns on the real estate investments. Secondly, the policies incorporated by the Dubai government are clear and transparent which are encouraging Saudi investment in Dubai’s real estate. Furthermore Dubai is considered to be a haven for security and stability which attracts investors from within and outside the region alike,” said Walid Farghal, director general Strategic Marketing & Exhibitions, organizers of International Property Show (IPS) which is officially supported by DLD.
“In addition, Dubai is home to several world-class industry events that serve as a driving force for the growth of the real estate market. The 13th edition of International Property Show (IPS), which will be held in April 2017, is an ideal platform for real estate professionals, investors and developers, and for those who are looking to meet and connect with industry leaders. IPS is the only property show in Dubai and the Middle East that permits direct real estate deals, subject to the authorisation granted by Real Estate Regulatory Agency (RERA), which enables all the exhibiting companies to receive down or full payments for the properties they sell at the show,” Farghal added.
In a report released by DLD, it was stated that the real estate market showcased an influential start in 2017 with total transactions in the first 45 days amounting to AED42 billion, as compared to the total investments in 2016 which was AED91 billion for the whole year.
Farghal stated that the real estate industry in Dubai will see a steady growth in 2017 and the coming years. In addition, the Dubai real estate sector will continue witnessing investments from Saudi Arabia, because of its concrete and transparent policies and industry-driven shows as the International Property Show, which serve as a strategic platform for experts in the industry to discuss and share best practices. — SG
