Pakistanis made transactions worth more than Dh7 billion in Dubai’s real estate market
Pakistanis have emerged as the third largest real estate investors in Dubai, according to the report reveals Dubai Land Department (DLD).
Pakistani nationals were listed at third number after UAE on the lead and India on second position. Pakistanis made 5,398 real estate transactions pumping about AED7 billion in Dubai’s real estate sector.
Dubai Land Department issued a list of top 10 nationalities of property investors in Dubai. The report measured the number of registered transactions during the last 18 months starting from January 2016 to June 2017.
UAE nationals lead the list, outperforming all other nations by making 12,000 transactions in the given period. They made the largest investment of about AED 37.4bn.
Indian citizens followed with about AED 20.4bn through 10,628 transactions. Pakistanis have made 5,398 real estate transactions pumping about AED7 billion investments in Dubai real estate.
Saudis led the Gulf nations with 5,366 transactions worth AED 12.5 billion and UK citizens took pole position among the European nationalities with 4,188 transactions worth AED9 billion.
Sultan Butti bin Mejren, director general of DLD, said: “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.
“This demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system that provides safety and security for all parties.”
Egypt, China, Jordan, Lebanon and the US are the other countries who made it to the list of top 10 investors in Dubai.
According to the recent DLD report, 217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market.
Excluding investors from the top 10 nationalities, others registered in the DLD’s database made a total of 23,318 transactions amounting to a total value of Dhs 48.665bn.