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British top UAE's list of expat real estate investors
British expatriates are the largest group of non-national investors in Dubai's real estate sector, according to a latest AC Nielsen report commissioned by Zabeel Investments. "Expatriates are keen to seek investment opportunities in the UAE, particularly in Dubai, and more often in property. However, concerns over clarifications of the UAE property law has left some hesitant," the report said.
- Staff Report
- Published: 00:00 November 13, 2006
Dubai: British expatriates are the largest group of non-national investors in Dubai's real estate sector, according to a latest AC Nielsen report commissioned by Zabeel Investments. "Expatriates are keen to seek investment opportunities in the UAE, particularly in Dubai, and more often in property. However, concerns over clarifications of the UAE property law has left some hesitant," the report said.
AC Nielsen handled collated data involving 300 individuals, covering UAE nationals, Arab expatriates, Asian expatriates and Western expatriates in an attempt to see what specific investment opportunities were of interest to the groups.
"While up to 50 per cent of respondent were looking to invest in the UAE in the coming year, of all expatriates polled, Westerners have the highest investment rate across the UAE, but most of that is funnelled out of the country and investment that is done in the UAE is put towards life insurance," a release said.
Mohammad Al Hashimi, executive chairman of Zabeel Investments, said: "It has been interesting to read the results of the research, and get a dipstick of general feelings towards the UAE as an investment opportunity, particularly from those looking to stay in the UAE for a number of years.
"It is clear from hesitation by the expatriate community, that there needs to be serious clarification into the ownership and liability laws with regards to property. The UAE, and Dubai in particular has grown in popularity for non-nationals, but we still have a way to go to reassure them that this is a viable and healthy investment opportunity," he said.
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