Indians invests nearly Rs 13,306 crore in Dubai's realty in H1 of 2016
Indians have invested Rs 13,305.5 crore ($2 billion) in Dubai's real estate market in the first half (H1) of this year, said the Goverment of Dubai's Land Department in its recently released data.
The country's real estate market has always been an attractive investment destination for Indians primarily because of the highest rental returns, tax free rental income, political stability and an easy access to global and regional markets, transparency in the property sector, business-friendly policies, among others.
“Dubai’s real estate market is becoming an attractive proposition to a multitude of international investors. However, no other nation invested more money into Dubai than India, with little over half-a billion dollars that is Rs 3,400 crore worth of investments in 2011; the investments from Indians have gone up ten-times in the last four years. Last year itself, they poured in Rs 37,060 crore ($5.45 billion) which was again an increase of 10% from the previous year,” Sumansa Exhibitions deputy general manager Asanga Silva, said in a press release on Tuesday.
Overall, Indians have pumped in a total of Rs 1,24,440 crore ($18.3 billion) into Dubai's realty since 2011, cited the statement.
The total investment transactions made by 26,000 investors from 149 different nationalities into Dubai's real estate market touched Rs 1,02,000 crore ($15 billion) in the first half (H1) of 2016, showed the latest data released by Real Estate Research and Studies Department of the Dubai Land Department.
Dubai has become a most favoured investment destination as the apartment in the country offers rental yields in the range of 7 to 12%, which is higher when compared to rental returns in cities such as London (3.5%), Hong Kong (2.82%) and Singapore (2.83%).
“Dubai is the top performing investment location for real estate and, over the years, Indian investors have continued to view the Emirate as an appealing platform to fulfill their investment needs,” Dubai Properties chief commercial officer Masood Al Awar, said in a statement.