Thursday, December 11, 2008

Investments in Dubai property sector this year exceeds Dh158bn

The investments in Dubai property sector have crossed Dh.158bn so far this year, revealed experts, after considering the number of sales registrations, leasing and mortgage transactions.

Speaking during the recently held Urban Waterfront Conference, the experts revealed that the global market value of waterfront developments was set to exceed $500bn within next five years.

Housing three Palm projects, The World, and Waterfront, in pipeline, Dubai is set to be one of the major active locations in terms of waterfront developments, the experts revealed.

Although temporarily these projects are on hold, investments in Dubai are continuing to grow. So far, despite the global financial crisis, Dubai has been the most attractive destination for investors around the world till date, with an investment of more than Dh.158bn being invested during the year. This is in comparison to Dh.151bn investments last year, said Ahmet Kayhan, Chief Executive of Reidin.com.

As per the figures, the top investor countries in Dubai are India, Saudi Arabia, Russia, UK, Iran, Oman, Canada, Bahrain and Kuwait, apart from few other countries such as Pakistan, Singapore and Afghanistan having invested during the first three quarter of this year.

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