Saudis, Jordanians top the list of Arab property buyers in Dubai

Published July 24th, 2016 - 12:00 GMT
Dubai is seeing exponential growth in foreigners owning property in the emirate. (AFP/File)
Dubai is seeing exponential growth in foreigners owning property in the emirate. (AFP/File)

Jordanians were the second largest Arab investors in Dubai’s property market in the first half of this year, according to official data released by Dubai Land Department (DLD) recently. 

The DLD report said that 765 Jordanians bought properties worth $413 million in the first six months of the year, ranking second among Arab investors after Saudis, who invested around $1.2 billion.

Jordanian real estate investors in the emirate were followed by Egyptians with investments valued at $374 million, and Kuwaitis who bought properties worth $331 million in the said period, the DLD report showed.

The department said that the value of real estate purchases by Arabs, including investors from the Gulf Cooperation Council, reached around $7.8 billion in the January–June period, while overall investments by Arab and foreign nationalities  were over $23 billion. 

The agency added that over 26,000 investors from 149 nationalities invested in Dubai’s property market in the first six months of this year. 

In 2015, some 1,516 Jordanians bought properties worth over $955 million in the emirate. 

On the list of foreign investors, Indian buyers came first with property purchases worth around $1.9 billion, followed by the British with investments valued around $1.1 billion and Pakistanis with transactions worth around $863 million. 

Jordanian official data estimate the number of Jordanians residing in the United Arab Emirates for work and investment purposes at over 200,000. 

According to figures of the Jordan Housing Developers Association, Jordanians are investing billions of dollars in property markets abroad. They are also pumping hundreds of millions of dollars in the emirate of Abu Dhabi, according to the syndicate, which said that investors from the Kingdom were also buying real estate in Turkey and Egypt.  

By Omar Obeidat


© Copyright The Jordan Times. All rights reserved.

You may also like