- India, Pakistan, UK, and China are among the top non-Arab countries that invest in the Dubai property market
- Among Arab countries, Saudi Arabia, Kuwait, Oman and Bahrain occupy the leading spots
- Israeli investors foray into the market this year and may join top-10 club with significant investments
- The fourth quarter is expected to produce even better results as Expo-2020 is receiving great footfalls
- A stable economy, visa reforms, and successful Covid-19 pandemic management are some of the top reasons that attract foreign investment in Dubai
DUBAI : The Dubai property market has maintained its position as a perfect overseas investment destination among various Arab and non-Arab countries for many years now. This can be ascertained from the fact that it ranked among the top three global property investment destinations during 2020 when the entire world was battling the COVID-19 pandemic.
With a strong recovery on cards in 2021, the third quarter of the year recorded the highest-ever sales transactions since 2009 with 15,926 deals worth AED 42.35 billion. By the end of Q3, 2021, 43,299 transactions amounting to AED 104.3 billion have been recorded. The fourth quarter is expected to produce even better results as Expo-2020 is receiving great footfalls, according to Zoom Property Insights.
The troupe of foreign investors was led by the subcontinent as Indians and Pakistanis, who make up for 20 to 30 per cent of total investors in the Dubai real estate sector, continued to pour money in growing market of the region.
“Israeli investors have also ventured into the market this year with significant investments. They are likely to emerge in top 10 lists of nations investing in Dubai real estate this year,” according to Zoom Property Insights.
Analysts and real estate experts said visa reforms, successful pandemic management, and vaccination drive are among the top reasons that supported the return of foreign investors in 2021.
Mr Ata Shobeiry, CEO at Zoom Property, said: “The last few years have seen huge amounts of investment by foreigners in Dubai. While India, Pakistan, and the UK are old players in the property market, new investors from Israel have joined the list of foreign investors in Dubai. Going by these trends, the coming years will also see more investment from foreign investors in the emirate”.
“Apart from a stable economy, expat-friendly policies, efficient handling of the pandemic, a secure investment environment, and visa reforms are some of the major reasons why foreign investors are attracted to Dubai. Expo 2020 impact on economy and real estate will also reflect in numbers by second quarter of next year,” he said.
Top Countries Investing the Most in Dubai Real Estate
During 2020, when the COVID-19 was at its peak, the Dubai property market still showed resilience and attracted foreign investment. Indian investors topped the charts, while Chinese, British, Pakistani and French investors also occupied leading spots. Among GCC countries, Saudi Arabia, Kuwait, Oman and Bahrain remained at the forefront.
The year 2019 also saw the supremacy of Indian, Saudi Arabian, Chinese, and British investors in the real estate sector. Investors belonging to Pakistan, Egypt, Jordan, and Canada also made noteworthy investments in the market.
“The market is stable and it has a promising outlook due to growing demand from subcontinent investors and new entrants from US, UK, Europe and South American countries,” according to Zoom Property Insights.
About Zoom Property
Zoom Property is an emerging property portal in the UAE with a primary focus on Dubai, Abu Dhabi and Sharjah markets. The portal also features international properties in KSA, UK and other regions. The platform not only facilitates buyers and renters but is also popular among developers, real estate brokerages and property sellers.
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