Dubai: Dubai Properties, a member of Dubai Holding, said on Saturday that it is drawing high interest for its upscale projects from investors and potential buyers in China.
Over the past two years Chinese buyers have consistently ranked among Dubai Properties’ top ten buyer nationalities in terms of value, the company said.
“As recently as April they were in the top five, so there is a clear trend for us to capitalise on. Our presence will allow us to further tap into this key market that currently represents three per cent of Dubai’s real estate transactions,” said Marwan Al Kindi, Director of Sales and Sales Operations at Dubai Properties.
“We also believe the recent landmark decision by the UAE Cabinet to issue a 10-year visa to investors and allow for 100 per cent foreign ownership of companies will further boost Dubai’s profile as a global safe haven for investors.”
As per projections released by the Dubai Land Department, Dubai’s real estate market witnessed more than 30,000 transactions worth approximately Dh56 billion from close to 23,000 global investors in 2017. Chinese investments currently rank sixth-highest for inbound property investment having been eighth-highest as recently as May last year, according to Knight Frank’s Prime International Residential Index. Recent policy changes such as granting Chinese nationals visa on arrival in Dubai, as well as the connectivity permitted by direct flights to 13 Chinese cities have increased the emirate’s attractiveness to investors from the country.