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Over the years, the Dubai real estate market has maintained its position as a perfect overseas investment destination in various Arab and non-Arab countries. This can be determined from the fact that it is among the top three real estate investment destinations in the world when the world is battling the COVID-19 pandemic in 2020.
With the strong recovery of cards in 2021, the third quarter of this year set the highest sales since 2009, with 15,926 transactions valued at 42.35 billion dirhams. By the end of the third quarter of 2021, 43,299 transactions have been recorded with an amount of 104.3 billion dirhams. According to the data from Zoom Property Insights, with the heavy traffic of Expo 2020, it is expected that the fourth quarter will produce better results.
The foreign investor group is led by the subcontinent, and Indians and Pakistanis, who account for 20% to 30% of the total investors in the Dubai real estate industry, continue to invest in the region’s growing market.
“Israeli investors also ventured into the market this year through a large amount of investment. According to data from Zoom Property Insights, they may appear in the list of the top 10 countries investing in real estate in Dubai this year.
Analysts and real estate experts stated that visa reforms, successful epidemic management and vaccination are the main reasons to support the return of foreign investors in 2021.
Mr. Ata Shobeiry, CEO of Zoom Property, said: “For the past few years, foreigners have invested heavily in Dubai. Although India, Pakistan and the UK are old players in the real estate market, new Israeli investors have joined Dubai’s foreign investors List. Following these trends, foreign investors will also invest more in the emirate in the next few years.”
“In addition to a stable economy, foreign-friendly policies, effective responses to epidemics, a safe investment environment, and visa reforms, these are the main reasons for attracting foreign investors to Dubai. By the second quarter of next year, the Expo 2020 And the impact of real estate will also be reflected in the numbers,” he said.
The country with the most real estate investment in Dubai
Statistics obtained from the DLD report show that India, Pakistan, the United Kingdom, Saudi Arabia and China are among the main countries investing in the Dubai real estate market.
In 2020, when COVID-19 reaches its peak, the Dubai real estate market is still showing resilience and attracting foreign investment. Indian investors topped the list, while Chinese, British, Pakistani and French investors also topped the list. Among the Gulf Cooperation Council countries, Saudi Arabia, Kuwait, Oman and Bahrain are still in the forefront.
2019 also witnessed the dominance of investors in India, Saudi Arabia, China and the UK in the real estate sector. Investors in Pakistan, Egypt, Jordan and Canada have also made noteworthy investments in the market.
Zoom Property Insights said: “Due to the growing demand from investors from the subcontinent and new entrants from the United States, the United Kingdom, Europe and South American countries, the market is stable and promising.”
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