Pakistan has emerged as the third largest real estate investor in Dubai, reveals Dubai Land Department (DLD), citing data spanning 18 months — from January 2016 to June 2017.
According to the details, shared by DLD on social media, Pakistani nationals have made 5,398 real estate transactions pumping about AED7 billion in Dubai's real estate sector.
The DLD released the list of top 10 nations that invested in the city's real estate sector. The latest report —based on the number of registered transactions — confirms that UAE nationals are in the lead, outperforming all other nations by making the largest investment of about AED37.4bn. UAE nationals made 12,000 transactions in the given period.
Indian citizens followed with about AED20.4bn through 10,628 transactions.
Saudis led the Gulf nations with 5,366 transactions worth AED12.5bn and UK citizens took pole position among the European nationalities with 4,188 transactions worth AED9bn.
Egypt, China, Jordan, Lebanon and the US are among the countries who made it to the list of top 10 investors in Dubai's real estate.
According to the DLD report, 217 nationalities have invested a total of AED151 billion in Dubai's real estate market. DLD Director General Sultan Butti bin Mejren said that these figures showed the confidence of the investors around the globe and the significant efforts made by the government of Dubai to establish a healthy investment climate.
“This list has been unveiled at a time when our real estate market is preparing for a new phase of growth in the run-up to Expo 2020. We are pleased to have witnessed such a high level of interest from global citizens in Dubai, who have invested over AED151bn through across 71,000 real estate transactions in just 18 months,” he said.