Top foreign investors in UAE property revealed

Online marketplace lists Top 10 nationalities buying UAE property in 2017
Top foreign investors in UAE property revealed
Investors from India were the most active international users on UAE classified website dubizzle in August 2017, according to a new report.
By Shoshana Kedem
Mon 16 Oct 2017 10:19 AM

Investors from India were the most active international users on UAE classified website dubizzle in August 2017, according to a new report.

On average, 19% of monthly foreign visitors to dubizzle property website originated from India, with 16% were from Saudi Arabia and 15% from the United Kingdom, a report released by the platform at GITEX found.

The most searched locations were Jumeirah Village Circle, Dubai Marina and the Palm Jumeirah, with the largest number of searches from overseas dubizzle users in August 2017.

dubizzle property provides over 200,000 live property listings a day, and receiving an average of 3.7 million visits per month.

The report found an additional 13% of users browsing from the United States and 10% from Pakistan.

Users based in Ireland (8 percent), Egypt (6 percent) and Jordan (3 percent) also visited the site. Kuwait users registered around 2.4% of the total foreign visits for property for sale on dubizzle, followed by 2% of the visits from Germany.

Topping the list of domestic investors were UAE nationals, Lebanese and Chinese investors in addition to the 10 nationalities mentioned above, the report said.

The findings are consistent with recent findings by the Dubai Land Department that investors from India, Pakistan, Saudi Arabia, UK, Egypt, Jordan, China, Lebanon and USA invested a total of $41 billion (AED151bn) in Dubai properties over the past 18 months.

Commenting on the most popular area searches in the emirate, Barry Judge, general manager of dubizzle, said that foreign investors had an appetite for a wide-range of areas that saw a shift away from Dubai’s traditional hotspots.

“Whilst recent local trends suggest that the interest of mid-market homes and newer areas are taking the spotlight away from the more mature areas, interest from foreign investors is more varied," said Judge.

"There seems to be a healthy interest in the Dubai property market with the popularity of areas being distributed amongst more mature areas and newer, up-and-coming communities, instilling confidence in the market.”

In 2016, residents of the UAE exchanged around 1.5 million items through dubizzle contributed to the overall reduction of waste and shrinking of the UAE’s carbon footprint by over 3.26 million tons of CO2 emissions, equal to around 85 million trees grown in 10 years, which is double the number of Palm trees in the UAE.

The home-grown brand dubizzle featured as a special guest at the Dubai Internet City (DIC) Stand at this year’s GITEX technology conference.

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