São Paulo – The real estate market in Dubai received investment of US$ 14.42 billion in the first half of this year, according to figures disclosed by Dubai’s Land Department on Tuesday (30), according to Emirates News Agency (WAM).
Of this total, according to the department, US$ 8.70 billion came from foreign investors (non-Arab). From the Middle East, businessmen from the United Arab Emirates were the ones who invested most in the real estate sector in Dubai, totalling 2,765 investors and transactions of US$ 3.26 billion.
Among the countries of the Gulf, the second main investor was Saudi Arabia, with US$ 544 million, followed by Kuwait (US$ 98 million). Outside the Arab countries, India was the one that turned most capital to the real estate sector in Dubai, with transactions of US$ 2.17 billion. Great Britain (US$ 1 billion) and Pakistan (US$ 816.5 million) are also among the main investors in the sector in the emirate.
"Dubai’s real estate market is a lucrative one for its stability, diversity and promise of high return on investment. These factors continue to inspire confidence in local, regional and international investors alike, whose transactions in turn contribute to sustained momentum of the market’s growth,” said Sultan Butti Bin Mejren, director-general of the Land Department in a press statement.
"An increase in the volume of investors from diverse backgrounds reflects the success of various policies and initiatives introduced by the government of Dubai throughout the year, which have had an invaluable impact on attracting [investors] from all over the globe who look for a safe and rewarding place to spend," added Mejren.
The executive pointed out that the strategies released by the Land Department, aiming at recovery of the sector, are aimed at attracting the market, offering support to development of great projects and disclosing lucrative investment opportunities.
He finished off stating that statistics show “beyond a doubt the coming period will be a promising one, where the [Land Department] expects to see an unprecedented amount of spending.”
*Translated by Mark Ament
