|By TAP Staff|Indian nationals were ranked first for foreign investment in Dubai’s property sector for the first half of this year, having made a total of 3,017 transactions worth AED 7.8 billion, according to statistics released by the Dubai Land Department.
British investors were in second place having conducted deals worth AED 4.7 billion, followed by Pakistani investors with transactions worth AED 3.3 billion. Canadian investors came in at fourth place with transactions worth AED 1.8 billion. The list also included citizens from Iran, Russia, United States, China, France and Afghanistan.
Dubai Land Department (DLD) announced that the total sum of investments in Dubai’s real estate market for the first half of 2015 was AED 53 billion.
DLD’s report, issued by its Research and Real Estate Studies Department, revealed that GCC Investors completed AED 17 billion worth of transactions in the first half of this year. Emirati investment formed the lion’s share of this figure, with UAE nationals making transactions worth AED 11,494 billion in the city’s property sector. Saudi Arabia was ranked in second place on the list of GCC real estate investors, having made transactions worth AED 3,174 billion. Kuwait was at third place, followed by Qatar, Bahrain and Oman.
“Dubai’s real estate sector is now enjoying sustainable growth. Based on the strong performance of the market, we fully anticipate that the momentum will be continued throughout the next five years as we lead up to Expo 2020, the biggest marketing event in the world,” said Sultan Butti Bin Mejren, Director General of DLD.
