DUBAI: The realty sector of Dubai indeed rides high as an international investment hotspot, where property prices show reasonably rising trajectories, according to an expert.
“It is also true that the same sector was ducked in 2008, when it faced recessional downturn. According to an estimate, the prices plunged down by more than 50% during that recessional crunch,” Aqsa Shabbir, marketing analyst and a dedicated writer in Bayut.com in her exclusive report, said.
However, the current situation is quite different, as the property prices in Dubai are once again exhibiting exponential upticks. In this up surge the contribution of property portals like Bayut.com cannot be overruled which keep the people updated about the real estate activities. International real estate investors also tend to invest in the realty sector of Dubai.
According to Dubai Land Department (DLD) statistics in 2013 the emirate of Dubai had received an investment of AED 114 billion from foreign investors, out of the total sum of transactions of AED 236 billion, denoting that almost 48% of the total real estate investment came from international investors.
DLD (Dubai Land Department) also revealed that in the past one year foreign nationals from 162 countries conducted transactions in the realty sector of Dubai.
“The real estate market of Dubai has remained successful in attracting investors from different corners of the world. The transactions that foreign nationals undertook in the previous year further confirm the stability and strength of our real estate sector and also of our wide economy,” Director General of DLD, said.
Dubai Land Department further exposed that the investors from Gulf Cooperation Council contributed AED 12 billion in the real estate sector and Jordanian investors funneled AED 2.6 billion. This trend was then followed by Libya, Palestine, Sudan, Yemen, Syria, Egypt and Lebanon.
Real estate deals from non-Arab nationals amounted to AED 69 billion, represents total 140 nationalities.
Investments of AED 18 billion, AED 10.4 billion and AED 8.6 billion were channeled by Indian, British and Pakistani investors respectively. This trend was then followed by investors from Germany, France, China, America, Canada, Russia and Iran.
“We expect that the realty sector of Dubai will continue to nurture this year as well, with even higher demand that is likely to be generated due to the winning of bid to host Expo 2020,” Bin Mejren – Director General of DLD, said.