Too many eggs in the same basket? GCC investors spent $5 billion in 2014 alone on Dubai's real estate
UAE nationals topped the list with Dh12.5 billion ($3.5 billion), .
Click here to add Dubai as an alert
Disable alert for Dubai,
Click here to add Dubai Land Department as an alert
Disable alert for Dubai Land Department,
Click here to add Gulf Cooperation Council as an alert
Disable alert for Gulf Cooperation Council,
Click here to add Kuwaitis and Omanis as an alert
Disable alert for Kuwaitis and Omanis,
Click here to add Qataris as an alert
Disable alert for Qataris
Investors from the Gulf Cooperation Council (GCC) states spent more than Dh19 billion ($5.17 billion) on real estate projects in Dubai, UAE, during the first half of the year, a report said.
UAE nationals topped the list with Dh12.5 billion ($3.5 billion), said the report in The National newspaper, quoting data from the Dubai Land Department (DLD).
Saudi nationals were placed second place on the list, with Dh3.371 billion investment. Qataris bought Dubai properties worth Dh1,463 billion, while Kuwaitis and Omanis bought properties worth Dh839 million and Dh482 million, respectively.
Bahrainis invested Dh247 million in the Dubai property marked during the period, the report said.
The volume of residential sales in the emirate, particularly in existing villas, was slowing down along with the asking price, according to the consultancy JLL’s second-quarter report, it said.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?