The UAE News report: Dubai Land Department on Saturday issued its annual report and revealed that Indians and UAE nationals emerged as top property buyers in 2019.
Investors from India topped the list of investors in terms of nationality with 5,426 investors, followed by the UAE with 5,172 investors, and the KSA, China, and the UK with 2,198, 2,096 and 2,088 real estate investors respectively, followed by Pakistan, Egypt, Jordan, the USA, and Canada.
The investors from Pakistan came sixth with 1,913 followed by Egypt (955), Jordan (855), US (682) and Canada (678).
In terms of investment value, Indians were also top investors, investing more than Dh10.89 billion in 2019 in to the Dubai’s real estate sector, followed by Dh8.1 billion by Emiratis, Dh4.92 billion from Saudi Arabia, Dh3.97 billion from the British investors and Dh3.65 billion by the Chinese nationals.
Investors from Pakistan put capital worth Dh2.79 billion into Dubai’s property sector in 2019, followed by Jordan (Dh1.57 billion) Egypt (Dh1.42 billion), France (Dh1.1 billion) and the USA (Dh1.25 billion).
“The year 2020, and the difficult challenges it brought, was a clear example of full coordination between all government departments on one hand and the wise leadership on the other, as a collective effort necessary to confront crises,” said Sultan Butti bin Mejren, director-general of Dubai Land Department.
Majida Ali Rashid, CEO for real estate promotion and investment management sector at Dubai Land Department, said Dubai remains one of the few investment destinations that maintain the growth fundamentals that represent a strong momentum in the latter half of the year, while benefiting from the enabling factors provided by the government to address the consequences of the pandemic.
“The sector achieved a growth rate of 3.66 per cent during Q1 2020 compared to Q1 2019, which achieved a growth rate of 3.09 per cent.
Dubai Marina ranked first in terms of real estate investment quantity in 2019 with 3,920 investments, followed by Business Bay with 3,508 investments, Al Khairan First with 3,142 investments, Hadaeq Sheikh Mohammed Bin Rashid with 2,833 investments, and Burj Khalifa with 2,721 investments.
In terms of real estate projects, a total of 1,894 projects were registered with DLD in freehold areas, 814 of which were completed and 314 under construction. In 2019, 70 real estate projects were registered with DLD, while 14 were registered in H1 2020. Of the projects registered in 2019, 69% were buildings, 24% were villa complexes, and 7% were villas.
As for the completed projects according to the year of project completion, 78 projects registered with DLD were completed in 2019 in freehold areas compared to 63 projects in 2018.
In addition, 314 projects registered with DLD are still under construction up until H1 2020. According to the date of project registration, 53 projects were registered in 2019, compared to 61 in 2018, 75 in 2017, and 45 in 2016.
As for Ejari contracts, 469,310 effective Ejari contracts were registered in 2019 according to the date of contract registration, compared to 448,564 Ejari contracts in 2018, with a growth of 5%. – abdulbasit@theuaenews.com
