TopDubaiProperty.com
Invest in the Best
Pakistanis invest $2.18bn in Dubai properties
Reported by AAMIR SHAFAAT KHAN — PUBLISHED FEB 26, 2016 in DAWN
Pakistanis purchased 6,106 properties during 2015 as compared to 5,079 units last year, an increase of 20 per cent, Dubai Land Department (DLD) figures showed on Thursday.
Around AED 8 billion ($2.178bn) worth of properties were purchased by Pakistanis during the year as compared to AED 7.588bn ($2.066bn) last year, up 5.43pc.
Media statements that the government was investigating Pakistani investments in Dubai property market seemed ineffective due to the rise in purchases. According to the DLD’s report, the overall real-estate investment exceeded AED 135bn in 2015 (55,928 investors) as compared to around AED 109bn (41,715 investors) a year ago.
Pakistanis have invested AED 24bn in Dubai property market since 2013. Some brokers were surprised with the trend as they believed that the money flow from overseas (particularly from Dubai) was pushing up the real estate in Pakistan.
Owner of Parekh Estate in Clifton, Abdul Wahab Parekh, said businessmen invested more in Dubai property market followed by politicians and industrial tycoons.
Most businessmen, perturbed by imposition of 0.03pc and 0.06pc withholding tax on banking transactions, have pulled out their money from the banks and parked it in the real-estate of both Dubai and Pakistan, he said “In Dubai, supply of real-estate is currently higher than demand causing downward trend in prices,” he opined.
On holding of Expo Dubai 2020, Parekh said that the event may drive up the prices of rentals.
Pakistanis among top 3 investors in Dubai property market
Written on August 18, 2014. Posted in News
Pakistanis ranked among top three foreign investors in Dubai’s real estate market with a total share of Dh4.5 billion for 3,064 transactions in the first half of the year, according to the Dubai Land Department.
The DLD’s list included the amount of real estate transactions conducted by foreign nationals with investors from Pakistan, India, Britain, Canada, Russia, China, USA, France and Afghanistan involved in 14,231 property deals worth a total of Dh30.533 billion for the first half of 2014, Khaleej Times reports.
Nationals from India were ranked first for foreign investment, making a total of 4,417 transactions worth Dh10.523 billion. British investors were in second place with 2,258 transactions worth Dh5.811 billion followed by Pakistani investors with 3,064 transactions worth Dh4.5 billion.
Iranian and Canadian investors came in at fourth and fifth place with transactions worth Dh2.7 billion and Dh1.9 billion respectively.
Citizens from Russia, United States and China occupied sixth, seventh and eighth places, creating more than one billion dirhams worth of property invested in each category of national.
The Dubai Land Department (DLD) has reported that total of 17,289 real estate transactions worth Dh37.5 billion were conducted in the first half of this year.
“We are extremely proud of these positive results, as they reflect a building momentum in Dubai’s real estate market which has now reasserted itself on both the regional and global stage.”
We are certain that the future will see even more demand, especially in light of the government’s declaration of forthcoming major projects,” said Sultan Butti bin Mejren, director-general of DLD.
DLD’s report, issued by its Research and Real Estate Studies Department, revealed that Arab Investors completed a total of 3,058 transactions worth Dh6.905 billion in the first half of this year.
Source; Click here
A Report By Parag Deulgaonkar - Reappeared in "Emirates 24/7 News" on 15th of October 2014
Indians continued to remain top expatriate property buyers in Dubai with their investment reaching nearly Dh6 billion in the first quarter 2014, data released by Dubai Land Department reveals.
British citizens and Pakistanis came in second and third on the expat investor list with investments worth Dh3.145 billion and Dh2.410 billion, respectively.
“Indians were at the top spot for international investment, both in terms of the number of investors (2,414) and the amount of expenditure Dh5.895 billion,” DLD said.
A total of 9,602 non-Arab investors from 111 nationalities bought properties worth over Dh20 billion in the first quarter.
‘Emirates 24|7’ reported earlier Indian, British and Pakistani nationals more than doubled their investment in Dubai’s real estate market in 2013 compared to 2012.
Indians had invested Dh18 billion, British citizens Dh10.4bn and Pakistanis Dh8.6bn in 2013.
