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Property in Dubai still a strong investment option, says AAA
Smart investors from the growing economic power that is India are putting their cash into real estate in Dubai, in a move that could prove a sound alternative investment strategy, according to AAA.
The figures from the Real Estate Investment Promotion and Management Centre at the Dubai Land Department, since the laws on foreign buyers changed, investors from India have purchased 2,153 properties in the country. The second most avid foreign property buyers in Dubai are Pakistanis, who are responsible for the purchase of 1,814 properties.
In total some 12,875 properties, including land, apartments, villas and other properties, have been purchased by foreign buyers. Majida Ali Rashid, Chairwoman of the Real Estate Investment Promotion and Management Centre, said that real estate investment in Dubai is growing in strength once again, after falling out of favor for a period. She said, "The real estate sector performance is moving from strength to strength over the past two years. The market has been attracting more foreign investors, which reflects the solid national economy and its excellent growth potentials.”
British investors have also been very attractive in buying properties in Dubai, which continues to be a extremely popular vacation location for British holidaymakers. Brits have bought up an impressive 1,564 Dubai properties, and many will be hoping to make healthy returns form their investment when it’s time to sell.
AAA’s analysis partner, Anthony Johnson, said that Dubai is looking like an attractive real estate investment prospect once more, following an uncertain period. He said, “Real estate investment is growing in popularity as investors look for alternative investment strategies away from riskier asset classes, like equities and bonds.
“More and more investors are looking for something tangible in exchange for their investments, and it’s easy to see why following the global economic crisis.”
AAA supports a wide range of alternative asset classes, including forestry investment through sustainable projects such as those run by Greenwood Management in Brazil.
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