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FinancialNews


  • 05-04-12

    GCC nationals invest USD3.26b in Dubai's real estate sector

    (MENAFN) Dubai's Land Department said that in 2011, citizens of the Gulf Cooperation Council (GCC) invested around USD3.26 billion in the emirate's real estate sector, reported Gulf News. The department added that real estate transactions jumped 20 percent from 2010 to USD38.92 billion. It also said that the quality, quantity, and procedures of 2011's land transactions reflected market stability and better investor awareness. Furthermore, the department highlighted the vital role of the direct and unlimited support from the local government in achieving market stability and growth, improving the attractiveness of real estate investment, in addition to enhancing investors' confidence. It is worth noting that UAE nationals topped the list of investors in the apartments division in 2011, whereas British and Indian nationals were the main investors in plots and villas.

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