Emiratis spend Dh12.5bn in Dubai property sector in H1

Dubai

Emirati’s invested Dh12.5 billion in Dubai’s property sector during the first half of the year, according to the latest data from the Dubai Land Department.

“UAE investors made 2,513 transactions worth a total of AED 12.568 billion in the first six months of the current year and in doing so, were placed at the GCC top spot well above all other investors in Dubai’s real estate market,” said Sultan Butti Bin Mejren, Director General of DLD.

Nationals from the other Gulf Cooperation Council (GCC) states; Kuwait, Saudi Arabia, Qatar and Oman, invested Dh6.5 billion in Dubai’s real estate market over the same six month period.

Saudi Arabia were the second biggest investors in Dubai’s property sector, after Emirati’s, making 1,121 transactions worth Dh3,371 billion, according to the Dubai Land Department. Qatari’s were third with 113 transactions worth Dh1,463 billion, Kuwaiti’s forth with 263 transactions worth Dh839 million and Omani’s were fifth with transactions worth Dh482 million. Bahraini’s, sixth on the list, spent Dh247 million investing in Dubai’s real estate market between January and June.

“The sheer volume of investments made by GCC citizens, points to the increasing trust placed in Dubai’s property sector.,” stated Bin Mejren.