With the strengthening of the reputation of Dubai as a world center of trade and tourism, its attractiveness for international investors from the fastest growing economies of the world is also increasing.
Dubai’s property market has attracted Arabs and Europeans for a long time, seeking a potentially high return on investment.
According to the Dubai Land Department (DLD), the volume of real estate transactions made by investors from developing countries in Africa and Asia is growing.
If in 2016 there were 41,776 transactions worth $ 70 billion, then in 2017, 69,000 transactions were registered for a total of $ 77.6 billion on the real estate market, with more than $ 15 billion made by foreign buyers.
According to Knight Frank, in the first half of 2017, China became the fourth largest source of investment for the Dubai property market, and the total value of the property acquired by Chinese investors for 18 months by June 2017, according to DLD, exceeded 3 billion dirhams, or $ 816 million.
To maintain this trend until 2019 and subsequent years, DLD recently held an on-site presentation of the Dubai Property Show in Shanghai and made a great impression on potential investors in the Chinese metropolis.
This year, field presentations will be held in London, Mumbai and Moscow. According to DLD, real estate transactions totaling more than $ 800 million were concluded last year at similar events in these four cities.
DLD also plans to hold a series of seminars on investment in real estate and other events in the cities of Africa, Asia, Europe and the Middle East in the second half of 2018.
Dubai has earned an excellent reputation among investors and real estate buyers around the world. Holding such presentations and seminars helps to give people a clear idea of Dubai and its real estate sector.
The volume of investment in the real estate sector of Dubai from Africa is also growing rapidly. According to data provided by the investment firm Global Capital Partners, over the past five years, private and institutional investment in the Dubai property market from Africa has grown by 300%. As one of the key incentives for this growth, the company named a high rental yield, which exceeds 6% in Dubai, as well as strict legislative regulation of the industry and the political stability of the emirate, compared with many countries in Africa.
Dubai is also included in the list of the best cities in the world for life. In 2017, the companies of the Economic Intelligence Unit and Mercer placed it on the first position among all cities of the Middle East for quality of life.
According to the analytical company JLL, the growing interest of international investors to Dubai can be explained by the fact that the emirate has “an infrastructure platform of very high quality, as well as a developed economy, focused on attracting tourists.”