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Sat 14 Sep 2019 12:12 AM

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Chinese, Saudi investment surge seen in Azizi's Dubai projects in 2019

Azizi Developments data also shows that more than two-thirds of investors are buying property to rent out

Chinese, Saudi investment surge seen in Azizi's Dubai projects in 2019
Azizi Developments has delivered over 8,200 homes, with more than 200 projects under various stages of development.

UAE-based Azizi Developments has announced it has seen noticeable increases in the number of Chinese and Saudis investing in its Dubai projects so far this year.

The number of Saudi investors has increased by 8 percent while Chinese investors have increased by 5 percent, the developer said, adding that Emiratis still make up more than half (52 percent) of its customers.

Its data also showed that Indian nationals make up 10 percent, Pakistani nationals (4 percent), and the rest being from the GCC, Europe and China.

The company's study also explored factors that govern property buying, including location and unit price, and revealed that the majority (68.5 percent) of property intenders purchase units as an investment, to rent them out.

Findings suggested that studio apartments are the property type that is most in demand, comprising 65 percent of all sales, while one-, two-, and three-bedroom apartments make up 25 percent, 7 percent, and 3 percent respectively.

Farhad Azizi, CEO of Azizi Developments, said: “Big data, with its ability to generate precise insights with profound applications, is a technological facilitator that is set to play an important role in our sector in the coming years. It adds a much-needed, customer-centric dimension to real estate and helps us in setting our strategy in a way that adds monumental value to the UAE property sector and economy."

Figures also showed there has been a clear increase in the number of young professionals and families purchasing properties to settle in Dubai, with attractive price points, lucrative offers from developers, and encouraging reforms announced by the government, helping introduce more end-users to the homeowner segment.

Azizi Developments has delivered over 8,200 homes, with more than 200 projects under various stages of development.

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