Indian investors corner Dubai property sales

Indian investors were responsible for the biggest chunk of real-estate sales in Dubai in 2009. Nearly a quarter or 24% of sales by value in the city involved Indian investors

Indian investors were responsible for the biggest chunk of real-estate sales in Dubai in 2009, a new study has revealed, reports PTI.

The figures, included in FutureBrand's Gulf Real Estate Study, showed that nearly a quarter or 24% of sales by value in the city involved Indian investors.

The data, supplied by DUBAIFocus in association with Dubai Land Department, also reveals that UK property buyers finished second with their 21% share. Investors from Pakistan and Iran grabbed the third and fourth spots with their 12% and 10% contribution respectively.

Buyers’ search for high-quality construction was cited as the biggest reason for investing in Dubai, with nearly 19% of respondents stating this factor as their highest priority.

Innovation (15.6%), building great places to live (6.8%) and the ease in working with developers (6.7%) were also seen as important factors by prospective buyers, according to the research. However, the need to deliver projects on time just got a 0.2% rating from respondents.

In November, research firm Proleads said that some 1,845 projects worth a combined $657 billion were still active in the UAE despite the impact of the global slowdown.

The study of the civil construction industry in the country showed that 69% of the total projects were ongoing (not cancelled or delayed).
 

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    COMMENTS

    Ataurrahman Cholavaram

    1 decade ago

    Commenting on the civil construction industry in Dubai, showed almost 69% of the total ongoing projects either not cancelled or delayed..is all due to the crude oil price which nosedived to about $60
    Things will go better as the price of oil in international market is slowly but surely recovering

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