Islamabad: Pakistan has emerged as the third largest real estate investor in Dubai, reveals Dubai Land Department (DLD).
According to a private news channel, the Dubai Land Department (DLD) said that Indian citizens have invested about AED 20.4 billion through 10,628 transactions while Pakistani nationals have made 5,398 real estate transactions investing about AED 7 billion. The DLD has released the list of top 10 nations that invested in the city’s real estate sector from January 2016 to June 2017. The latest report, based on the number of registered transactions, confirms that UAE nationals are in the lead, outperforming all other nations by making the largest investment of about AED 37.4 billion.
UAE nationals made 12,000 transactions in the given period investing about AED 37.4 billion. Saudis led the Gulf nations with 5,366 transactions worth AED12.5 billion and UK citizens took pole position among the European nationalities with 4,188 transactions worth AED 9 billion.
According to the recent DLD report, 217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market. DLD Director General Sultan Butti bin Mejren said that these figures showed the confidence of the investors around the globe and the significant efforts made by the government of Dubai to establish a healthy investment climate.
“This list has been unveiled at a time when our real estate market is preparing for a new phase of growth in the run-up to Expo 2020. We are pleased to have witnessed such a high level of interest from global citizens in Dubai, who have invested over Dh151 billion across 71,000 real estate transactions in just 18 months.”
Egypt, China, Jordan, Lebanon and the US are the other countries who made it to the list of top 10 investors in Dubai.