Dubai: Real estate investment estimated
According to Al-Sharq newspaper, the Dubai Land Department estimated at Dh 2.8 billion the value of investments by Arabian Gulf investors (excluding the UAE's investors) in real estate and land in the Emirate of Dubai in the first quarter of the current year. The department added that 126 Gulf investors spent Dh 1.2 billion on real estate and land purchases in Dubai in the first three months of the current year.
The total area of these assets, which are located in different areas of Dubai, amounted to 6.3 million square feet. The Gulf investors also sold real estate and land in Dubai valued at Dh 1.6 billion in the first quarter of 2005. The total area of the sold assets hit 1 million square feet.