Indians Emerge As Largest Foreign Buyers Of Dubai Real Estate

    Date:

    Share post:

    Indians were the largest foreign buyers of property in Dubai in past six months. As per Dubai Land Department, deals worth $1.6 billion were registered involving Indians.

    “Indian nationals are the largest group of foreign investors in Dubai’s real estate and as both the UAE and India strengthen strategic relationship, we see a greater synergy and increased investment by Indian nationals in UAE,” Hindustan Times quoted Dawood Al Shezawi, the head of Dubai Property Festival’s organising committee, as saying.

    There were a whopping 3218 transactions happened in Dubai involving Indians in the first half of 2018. In fact, only Emiratis ($1.85 billion) bought more property than Indians who in turn were followed by Saudi Arabians, who made 1,415 investments worth $1 billion.

    The maximum properties were bought in Business Bay, followed by Dubai Marina and Al Merkadh.

    It is claimed that Indians prefer to invest their money in Dubai as it is easier to register a property in Dubai than in India. Also, a buyer is entitled to a residence visa on investing Dh1 million ($270,000) in the city.

    It is also reported that the property in Dubai is cheaper than the property of major Indian cities.

    Also, the fact that the apartments in Dubai are sold in terms of carpet area with free car parks, whereas in India, apartments are sold as built-up and car parks are sold separately, buyers are finding the Dubai properties much enticing.

    A major reason why Indians form the largest foreign buyers may be the fact that Indian nationals reportedly form the largest expatriate population in the UAE and are the largest foreign owners of business establishments in the region.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Noida To Get 400-Metre Circular Skywalk at Sector 62/63

    A new 400-meter circular skywalk is set to be constructed at the busy Sector 62/63 intersection in Noida....

    India’s Data Center Capacity to Cross 4,500 MW by 2030 – Colliers Report

    India’s data center capacity across the top seven cities is projected to exceed 4,500 megawatts by 2030. This...

    New Elevated Road to Connect Greater Noida and Delhi-Meerut Expressway

    The Greater Noida Authority on Friday approved a proposal to construct a 4-kilometer elevated road. This road will...

    Film City Layout Plan Submitted for YEIDA Approval

    Filmmaker Boney Kapoor and his team have submitted detailed building layout plans for the International Film City project...