Indian investors topped in Dubai property buyers’ list.Posted on : 09 Apr, 2012
Dubai: This is the first time Indian property buyers have topped the buyers list in Dubai. According to the Dubai Land Department (DL Dept) data disclosed the figures approx properties worth 2.1 billion Dirhams (Rs 292 crore) have brought down in Dubai.
The DL dept said that, the Indians have topped the list of property investors in Dubai property market and recorded the 927 property deals for Rs, 2.1billion Dirhams. This is only 16% of the entire property transactions took place by new investors, the department added.
The department further said that, while it did not mention the nationality of the second largest investors, whereas the UAE nationals came third, having invested 1.575 billion dirhams (Rs 219 crore). Due to the entrance of new investors flow of money increased in the Dubai property market, however according to the previous figures total 13.13 billion dirhams (Rs 1,825 crore).
In between, Asian property investors formed 68% of the overall number of investors in the sector, with the UAE nationals topping the list with 35% representation of the overall number of Asian landlords, followed by Indians at 20%.
SOURCE: Accommodation Times Bureau