Dubai attracts UK real estate investment worth $8.4bn
Real estate investors from the UK have invested $8.4bn in Dubai’s real estate sector between 2014 and 2017
Real estate investors from the UK have invested $8.4bn (£6.21bn) in Dubai’s real estate sector between 2014 and 2017, according to the statistics released by Dubai Land Department (DLD) as the UK remains one of the largest investors for Dubai’s real estate. Although the annual investment has been declining from Dh10 billion (£2.01 billion) in 2015 to Dh5.8 billion (£1.17 billion) in 2016, this has somewhat bottomed out in 2015 and grew marginally to Dh6 billion in 2017, said the DLD report released ahead of a major industry event.
Organised by Dome Exhibitions, the International Real Estate and Investment Show (IREIS) 2018 is a sales and networking platform for real estate developers, investors and agents which will host its UK Edition in London, IREIS 2018 – UK Edition, and serve as a one-stop shop for UK investors seeking investment opportunities in the UAE. It will host a spectrum of property developers, investment and real estate brokerage companies which will showcase the latest offers across the seven emirates and around the world to attract investors from the UK market – the third largest international source market for Dubai real estate.
There has been a massive outflow of capital towards outbound investment from the UK following the Brexit vote.
Dubai has proved to be an ideal market for British and other foreign investors in Britain seeking to invest their money in a more stable and higher-yield market due to the sound regulatory environment and solid foreign investor protection.
The managing director of Dome Exhibitions, Antoine Georges said that a country that thrives with its low tax environment, world-class infrastructure and 100 per cent ownership prospects for foreign investors in selected zones, the UAE has rapidly risen as one of the most sought-after choices among foreign investors.
With the upcoming Expo 2020 Dubai ahead, the country is expected to possess such key drivers that will uphold a healthy outlook for the real estate market, further cementing its position as the top tourism and business hub in the world.
Georges said that several government initiatives had also been launched to fast-track investors’ transactions within the country, with the Dubai Land Department reducing transaction period to 10 days.
The UAE holds exactly what British investors look for in each venture: high-quality real estate with a promising return on investment. This opportunity, combined with a prosperous economic growth and stability are vital drivers to the UAE’s increasing investors’ base.