Statistics compiled by Dubai Land Department (DLD) demonstrate that Indian nationals, who form the largest foreign investor group in Dubai’s real estate, bought properties worth $22 billion between 2013 and 2017. According to DLD, they invested $4.25 billion in Dubai’s real estate in 2017, $3.27 billion in 2016 and $5.45 billion in 2015 – their highest in a year, according to the figures released by DLD at the Dubai Property Festival. In total, the DLD recorded 69,069 real estate transactions with a total value exceeding $77.6 billion in 2017.
“Indian nationals are the largest group of foreign investors in Dubai’s real estate and as both the UAE and India strengthen strategic relationship, we see a greater synergy and increased investment by Indian nationals in UAE,” said Dawood Al Shezawi, head of the Organising Committee of Dubai Property Festival. “The majority of the property brokers, a number of property developers have been contributing to the growth of our economy.”
At $77.6 billion the value of land transactions in Dubai ranks higher than the GDP of 144 out of the 211 countries recognised by the United Nations. The $22 billion invested by Indian nationals in those five years is also close to the $25 billion expected to be spent by foreign investors in the entire Indian market between 2015-2025.
“As UAE-India relationship strengthens, Dubai Land Department also deepens its engagement with Indian economy to help create a win-win situation for all stakeholders,” Al Shezawi added. “We have put India in our global map of increased interaction and have been supporting the Indian Property Show in Dubai while also organising Dubai Property Show in Mumbai – the commercial capital of India.”