UAE nationals topped the list of biggest investors in Dubai’s real estate market with 2,986 investments worth $1.8bn (AED6.8bn) recorded in the first half of 2018, a recent report by Dubai Land Department (DLD) has found.
Indian nationals ranked second, with investments amounting to $1.6bn (AED5.9bn) through 3,218 investments, according to the report.
Saudi Arabians followed closely behind with almost $1bn (AED3.7bn) worth of investments through 1,415 transactions.
The list of top 10 investors by nationality also included Dubai residents from Britain, Pakistan, China, Egypt, Jordan and France, respectively.
The report also revealed that the total volume of GCC nationals' investments in Dubai’s real estate exceeded $3.1bn (AED11.6bn) through 4,919 transactions made by 3,700 investors, while 2,094 investors from 16 Arab countries concluded 2,561 transactions worth more than $1.1bn (AED4.1bn).
The first half of the year saw 9,935 foreign investments from 143 nationalities making more than 11,889 transactions with a total value exceeding $5.7bn (AED21bn).
The value of properties registered by female investors, as recorded by DLD, has also increased, reaching $2.4bn (AED9bn) through 5,526 transactions.
HE Sultan Butti bin Mejren, director general of Dubai Land Department, said: “If we were to identify the reason behind the strengthening real estate market, it would be the level of maturity it has reached to maintain its sustainable growth.
“Expo 2020 is close at hand, and developers in the market are expressing interest in aligning with the directives of the wise leadership to turn Dubai into a global pioneer and an attractive investment hub in support of Dubai Strategic Plan 2021.”
Real estate transactions in Dubai for the first half of 2018 reached $30bn (AED111bn).