Pakistan among Top Five Nations Investing in Dubai Real Estate
People from around 127 nationalities have been investing in the emirates, with UAE nationals topping the chart. They have invested around Dh12.024 billion, according to Emirates 24/7. In the list, Indians scored second position with the investment worth Dh5.885 billion in the first five months, followed by Saudi nationals who invested Dh3.655 billion in Dubai real estate sector.
British nationals secured fourth position by investing Dh3.313 billion and Pakistani came on fifth position by investing Dh2.676 billion. The Dubai Land Department (DLD) updated in its website that the total investment in Dubai real estate market stood at Dh25 billion in the first three months of 2016 and just in the coming two months of 2016, the figure reached to Dh48 billion.
DLD Director-General Sultan Butti bin Mejren said, ""People talk of a correlation between lower oil prices and property, but we haven’t seen any such thing. People are buying and not all of them have any business with oil. There are a lot of investors with money who have trust in Dubai."
Real estate experts are of the view that property prices are expected to be under pressure throughout this year due to decreasing oil prices and a strong US Dollar but the sector will start to recover in 2017, as the infrastructure work surrounding the Expo 2020 gets underway.
As you know Dubai is hosting Expo 2020, which will run for six months from October 20, 2020 to April 10,2021. It is expected that expo will draw more than 25 million visitors, expecting Dh25 billion investment in total in infrastructure related projects with creation of millions of new job.