Saudis spent Dh4.6 billion on Dubai properties in 2013

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Dubai real estate showSaudi citizens made transactions worth 4.6 billion dirhams in 2013 to invest in Dubai property, data from the Dubai Land Department (DLD) show. This figure makes the UAE’s neighbour the second largest Dubai investor in the GCC behind Emirates themselves.

Emirati investment formed the major share with total transactions of 24 billion dirhams. The rest was shared between Gulf nationals from the four remaining GCC countries — Oman, Qatar, Bahrain and Kuwait.

Arab investors from outside of the GCC also contributed significantly to real estate activity last year, with their total value of investment amounting to more than 12 billion dirham.

As for the Arab region as a whole, DLD’s report revealed that 16 different Arab nationalities were involved in property transactions in 2013, with Jordanian investors ranked highest at nearly 2.6 billion dirhams worth of deals. They were followed by citizens of Lebanon, Egypt, Syria, Iraq, Yemen, Sudan, Palestine and Libya.

The total value of non-Arab investment in the Dubai real estate market for 2013 amounted to more than 69 billion dirhams, spread between 140 nationalities. Indian nationals were ranked the highest value foreign investors, making a total of 18 billion dirhams worth of property transactions. British investment came second at 10.4 billion dirhams, followed by Pakistanis with 8.6 billion dirhams.

The amount of international real estate transactions for 2013 exceeded 114 billion dirhams, nearly half of the 236 billion dirhams total,

“We anticipate that Dubai’s real estate market will continue to grow this year, with an even higher level of demand likely to be generated from Dubai’s winning bid to host the Expo 2020,” said Sultan Butti bin Mejren, director general of DLD.

“Our registry has recorded that there were more than 160 foreign nationalities making property transactions in the emirate last year,” Sultan Butti bin Mejren added.

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Reading Time: 1 minute

Saudi citizens made transactions worth 4.6 billion dirhams in 2013 to invest in Dubai property, data from the Dubai Land Department (DLD) show. This figure makes the UAE’s neighbour the second largest Dubai investor in the GCC behind Emirates themselves.

Reading Time: 1 minute

Dubai real estate showSaudi citizens made transactions worth 4.6 billion dirhams in 2013 to invest in Dubai property, data from the Dubai Land Department (DLD) show. This figure makes the UAE’s neighbour the second largest Dubai investor in the GCC behind Emirates themselves.

Emirati investment formed the major share with total transactions of 24 billion dirhams. The rest was shared between Gulf nationals from the four remaining GCC countries — Oman, Qatar, Bahrain and Kuwait.

Arab investors from outside of the GCC also contributed significantly to real estate activity last year, with their total value of investment amounting to more than 12 billion dirham.

As for the Arab region as a whole, DLD’s report revealed that 16 different Arab nationalities were involved in property transactions in 2013, with Jordanian investors ranked highest at nearly 2.6 billion dirhams worth of deals. They were followed by citizens of Lebanon, Egypt, Syria, Iraq, Yemen, Sudan, Palestine and Libya.

The total value of non-Arab investment in the Dubai real estate market for 2013 amounted to more than 69 billion dirhams, spread between 140 nationalities. Indian nationals were ranked the highest value foreign investors, making a total of 18 billion dirhams worth of property transactions. British investment came second at 10.4 billion dirhams, followed by Pakistanis with 8.6 billion dirhams.

The amount of international real estate transactions for 2013 exceeded 114 billion dirhams, nearly half of the 236 billion dirhams total,

“We anticipate that Dubai’s real estate market will continue to grow this year, with an even higher level of demand likely to be generated from Dubai’s winning bid to host the Expo 2020,” said Sultan Butti bin Mejren, director general of DLD.

“Our registry has recorded that there were more than 160 foreign nationalities making property transactions in the emirate last year,” Sultan Butti bin Mejren added.

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