Dubai’s real estate market is becoming an attractive proposition to a multitude of international investors.
According to data from the Dubai Land Department (DLD), released by its Real Estate Research and Studies Department, total investment transactions for the first half of the year reached Dh57 billion from 26,000 investors made up of 149 different nationalities.
Leading the property investors were buyers from the GCC, contributing Dh22bn to Dubai’s property market covering 8,000 transactions, just over a quarter of the total number. Of this, Emirati investment provided the lion’s share, with total transactions reaching Dh14.5bn from 4,543 investments, while GCC investors made up Dh7.5bn from 3,656 transactions.
While Dubai’s real estate market has suffered a string of calls in recent months citing its bottom, the DLD data suggests many still see opportunity in it.
The total value of foreign investment into Dubai property reached more than Dh28bn, almost half the value of transactions, drawn from more than half of the investments – 14,314 investments out of the 26,000 were from foreigners.
“The Dubai real estate market has managed to maintain its robust appeal this year,” said Sultan Butti bin Merjen, the director general of the DLD. He said it is now emerging as one of the foremost property investment destinations in the world. “It has been bolstered by the decline in some regional economies and serious challenges faced by other countries around the globe,” he said, adding that the diversity of the investor base reflects the quality and trust that investors place in Dubai’s economy.
Indian investors led the way in the foreign investor field, bringing in more than Dh7bn worth of property transactions to the emirate from just 3,656 transactions.
The British were second with Dh4bn in investments, while Pakistanis were third with Dh3bn.
“I’m surprised to see GCC nationals and Emiratis so high on the list,” said Paul Clark, a real estate agent for Luxhabitat. “Generally GCC buyers are in the market for whole floors of a tower or several plots on the Palm.” However, Mr Clark says the biggest absence on the list is the Russian investor.
“At one point Russians must have owned at least 80 per cent of the real estate on Palm Jumeirah,” he added.
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UAE (S. Tagliabue 90 1') 1-2 Uzbekistan (Shokhruz Norkhonov 48', 86')
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Monday
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Engine: 2.0-litre 4-cyl, 48V hybrid
Transmission: eight-speed automatic
Power: 325bhp
Torque: 450Nm
Price: Dh289,000
Key facilities
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- 600-seat auditorium
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Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
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Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
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More than 2.2 million Indian tourists arrived in UAE in 2023
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Sector: E-commerce
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Investment stage: Pre-seed
Initial investment: Undisclosed
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Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
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Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
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Sand storm
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- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
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Dust storm
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