Chinese investments in UAE real estate set to surge
Fidu Properties has reaffirmed that Chinese investments in the UAE's real estate sector are set to surge in the coming months, and will grow over 70% during 2019, reinforcing the growth potential on offer in the country. Chinese investments have gone up 64 per cent between 2016 and 2017, and this trend has continued in 2018 and the first quarter of 2019. Currently, Chinese investors are among the top four nationalities who have invested in Dubai, according to official statistics. Investors from China accounted for Dh1.7 billion worth of investments in Dubai in the first nine months of 2018, according to figures available from the Dubai Land Department (DLD). The total worth of real estate transactions in the emirate during the period was Dh162 billion. Fidu Properties' optimistic standpoint comes amidst proactive steps by government departments such as DLD to attract Chinese investments in the real estate across Dubai and the UAE. As part of this, DLD has also announced plans to ramp up efforts to attract at least Dh1 billion in inward property investment from China in 2019. To step up Chinese investments in the country, DLD has also opened its two representative offices in China in the past two years including Beijing last June and aims to open a third in the southern industrial city of Shenzhen, and other regions.
Tags : INTERNATIONAL