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Dubai Property Seeing Strong Global Investor Interest
DUBAI: The Dubai real estate market is witnessing the rush of domestic as well as institutional investors leading to a fresh spurt in demand.
The upbeat mood of investors can also be seen in the response to the newly launched Emar Group’s Lila and Yasmin communities at the Arabian Ranches development. The Villa communities are largely a cluster of a few hundred villas. But the tag of privilege it bestows by way of exclusivity and ‘the gated communities’
More such ‘bolt-on’ schemes are in the offing as developers want to expand most of the prominent communities in order to hard sell the brand value in the property market.
Dubai’s position in the global realty market is going high. It is already the number 2 global real estate investment destination after London. This surge underscores the economic rebound of Dubai and its appeal as the hottest investment destination.
The recent stimulus for investment in Dubai is the upcoming Expo 2020 being hosted by Dubai. A recent survey indicated the interest of high net worth individuals (HNWI) living in GCC to invest in Dubai’s real estate sector in 2014.
For HNIs Dubai is an alluring destination with its world class lifestyle and second home ownership and the sense of security. For HNIs not only the capital gains but the status of emirate as a safe haven is also an important factor.
After the Dubai real estate sector was opened to foreign investors in 2002 foreign buyers are flocking to buy freehold properties in the city. According to the data released by the Dubai Land Department, in 2013 a total of Dh161 billion properties were transacted which is 30 percent higher than the value recorded in the previous year.
Among the foreign purchasers 60 percent sales were clinched by Indian investors followed by the British (17 percent), Pakistanis (15 percent) followed by Saudi Arabians and Russians.
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