It is no surprise that in this article (see below) of ConstructionWeekonline, there is no hint anywhere that Indians, Pakistanis most interested in UAE property investments make up the most significant percentage of the populations of the respective GCC countries.
Since the advent of oil, the Persian Gulf countries have generally turned into modern states through concurrent processes of development. Rapid population growth in the GCC states has been timed by 10 at least, in the space of few decades through primarily a natural growth in the influx of foreign workers and not through their indigenous population.
It must also be noted that the same countries planning ahead are believed to be somehow facilitating investments of non nationals in any segment of their economies, presumably to counter all those consequences of oil peaking shortly and away from the Gulf region.
Of the top five most active nationalities on Dubizzle Property, the highest interest in the UAE property market came from Indian nationals, accounting for 22% of visits to the platform in 9M 2018.
Indians, Pakistanis most interested in UAE property investments
Nov 22, 2018
o EThis data echoes figures from Dubai Land Department (DLD), where Indian nationals accounted for more than 4,600 investments worth AED 8.6 billion in the first nine months of this year, representing the largest property investment segment in the UAE.
Pakistanis came in second with 14% of visits to dubizzle Property, followed by Egyptians (6 per cent), Jordanians (4 per cent) and UK nationals (4%).
Egyptians and Jordanians are the top Arab nationalities looking to invest in the UAE property market, according to dubizzle Property.
The two nationalities accounted for 10 per cent of property seekers on the platform in the first three quarters of the year.
This is in line with the figures recently revealed by the Dubai Land Department (DLD) concerning Dubai real estate transactions during the same period, where Jordanians were identified as the highest Arab investors with 644 investments by 548 investors, worth over AED 1.2 billion. Egyptians recorded 719 transactions made by 623 investors, worth over AED 1 billion.
China, France, UAE, and KSA were among the top 20 most active users of the platform, which is also in line with the DLD’s list of top 10 investors by nationality that includes UAE, India, KSA, UK, Pakistan, China, Egypt, Jordan, and France.
“The current soft sales market has made the cost of property ownership more attractive versus the cost of rent, especially for those considering staying in Dubai for five years or more. Long-term expats are increasingly making the leap into ownership as declining prices are now making this investment possible,” commented Matthew Gregory, head of property sales at dubizzle Property.
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