Egyptians among top investors in Dubai property market

Egyptians contributed a total of AED1.37 billion (US$373 million) to Dubai’s real estate investment market for the first half of 2016, according to a report issued by Dubai Land Department (DLD)'s Real Estate Research and Studies Department.

Egyptians rank second among Arab investors, with 710 transactions, the report said, following Jordanians who invested more than AED 1.5 billion (US$408 million) with 765 investments.

Lebanese citizens ranked third, investing more than AED 1 billion (US$272 million), derived from 423 transactions.

In 2015, Egyptians ranked second as well, nestled in between Jordanians and Lebanese, however spending over AED 2.55 billion (US$694 million) in the real estate market, with 1,390 transactions.

The overall sum of real estate investment in Dubai’s market reached AED 57 billion (US$15.5 billion) for the first half of 2016, invested by 26,000 investors of 149 different nationalities.

Arab investors alone ­– outside of the Gulf Cooperation Council – contributed more than AED 7 billion (US$1.9 billion), with 7,577 investments made by 16 different nationalities. Citizens of the GCC contributed AED 22 billion (US$5.99 billion) to the Dubai property market, with 8,000 transactions.

Foreign investments in the Dubai real estate market totaled more than AED 28 billion (US$7.62 billion), according to the report, contributed by 14,314 investments from 149 different nationalities, on top of which is Indian nationals with more than AED 7 billion (US$1.9 billion) worth of investment.

The British were listed second with a total of AED 4 billion (US$1.09 billion) worth of property transactions resulting from 2,010 transactions.