Published : 3 May 2018 , Source : Trade Arabia
British nationals have invested nearly Dh31.1 billion ($8.47 billion) in Dubai’s real estate sector during the period from 2014 to 2017, according to the statistics released by Dubai Land Department (DLD).
The United Kingdom is one of the largest investment source markets for Dubai’s real estate. Although the annual investment has been declining from Dh10 billion in 2015 to Dh5.8 billion in 2016, this has somewhat bottomed out in 2015 and grew marginally to Dh6 billion in 2017, said the DLD report released ahead of a major industry event.
The International Real Estate and Investment Show (IREIS) 2018 is a sales and networking platform for real estate developers, investors and agents which will host its UK Edition in London.
To be held at the Queen Elizabeth Centre II from June 22 to 23, the show serves as a one-stop shop for UK investors who are seeking for the perfect investment opportunities in the UAE.
Organised by Dome Exhibitions, the IREIS 2018 – UK Edition will host a spectrum of property developers, investment and real estate brokerage companies which will showcase the latest offers across the seven emirates and around the world.
Major UAE-based property developers are lining up for the IREIS 2018 – UK Edition to attract investors from the UK market – the third largest international source market for Dubai real estate.
Following the Brexit vote in 2016 and subsequent move for separation from European Union by the British Government, the UK has witnessed a massive outflow of capital towards outbound investment.
Besides, the sound regulatory environment and solid foreign investor protection makes Dubai an ideal market for investment for British investors and other foreign investors in Britain who want to invest their money in a more stable and higher-yield market and the UAE fits the bill.
Of these, property buyers from the United Kingdom have invested Dh6 billion last year, Dh5.8 billion in 2016, Dh10 billion in 2015 and Dh9.3 billion in 2014, DLD statistics show.
“A country that thrives with its low tax environment, world-class infrastructure and 100 per cent ownership prospects for foreign investors in selected zones, the UAE has rapidly risen as one of the most sought-after choices among foreign investors,” remarked Antoine Georges, the managing director of Dome Exhibitions.
“With the upcoming Expo 2020 Dubai ahead, the country is expected to possess such key drivers that will uphold a healthy outlook for the real estate market, further cementing its position as the top tourism and business hub in the world,” he noted.
“Several government initiatives had also been launched to fast-track investors’ transactions within the country, with the Dubai Land Department reducing transaction period to 10 days,” stated Georges.
“The UAE holds exactly what British investors look for in each venture: high-quality real estate with a promising return on investment. This opportunity, combined with a prosperous economic growth and stability are vital drivers to the UAE’s increasing investors’ base,” he added.