The relationship between India and UAE has further strengthened as Indians have become the top foreign property investors in the country. They have pumped over USD 3.2 billion into various projects last year, reveal the figures of Dubai Land Department.
Altogether, AED 91 billion (USD 24.7 billion) was invested in the real estate market of UAE by 55,928 investors. Out of this, 6,263 Indians invested AED 12 billion (USD 3.2 billion), which was the highest in terms of both volume and value.
Even the Dubai government is excited about the new phenomenon and is organising the 13th edition of International Property Show which will be held from April 2 to 4. This edition is expected to be the biggest in history as over 200 exhibitors from 50 countries are participating.
Speaking about the rising interests of Indians in Dubai property market, Dawood Al Shezawi, CEO, Strategic Marketing & Exhibitions and organiser of the International Property Show, said, “The UAE's safe haven status, stable economic growth and bottomed out prices have been the key factors for attracting Indian realty investments in Dubai. In addition, many Indians find Dubai as their base for business between India and the wider Europe and Middle East.
He added, “Dubai is increasingly becoming a favourite destination with Indians for a number of reasons, including high capital gains, great return on investment, tax-free environment, proximity to India, and transparent deals amongst many others. The profits on properties in Dubai in the form of rents and resale are high.”
In Dubai retail market, Gulf Cooperation Council's (GCC) member states contributed AED 35 billion (USD 9.5 billion) from 12,768 investors while British investments amounted to AED 5.8 billion (USD 1.5 billion) from 3,372 investors.
GCC member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
