2017 DUBAI REAL ESTATE PERFORMANCE SNAPSHOT
- Total real estate transactions exceeded AED 285 billion (USD approx. 77.6 billion) through 69,000 real estate transactions, an increase of 6 % in transaction value and 14% in transaction volume over 2016
- Sales of land, buildings and units in the Dubai real estate market totaled AED 114 billion through 49,000 transactions
- Mortgages for same three categories reached AED 138.5 billion through 15,700 transactions
- 4,000 other transactions valued at approximately AED 33.3 billion
- 39,790 investorsmaking nearly 53,000 transactionsworth more than AED 107 billion
- 9,790 Gulf nationals made 14,381 transactions worth more than AED 37 billion
- 7,000 Arab investors who closed 8,644 real estate transactions worth over AED 14 billion
- 23,000 investors making approximately 30,000 transactions worth approximately AED 56 billion
- UAE investor continued to lead the list of nationalities investing in the Dubai real estate market, where the value of their investments amounted to AED 25.307 billion
- second place for Indian investors who invested AED 15.6 billion
- Third place for Saudis with investments exceeding AED 7 billion
- British and Pakistanis whose investments amounted to AED 6 and 5 billion, respectively
China – UAE relations
- UAE, coined as the “Hub of the Belt” is amongst the highest beneficiaries of China’s “One Belt, One Road Initiative”.
- China has been one of Dubai’s largest non-trade partners since 2014.
- In Q4 2016, the UAE granted Chinese travelers “30-day” visa on arrival status
The Chinese Investor in the UAE
- Industry reports, from January 2018, ranked the Chinese investor amongst the top 10 most active investors in the UAE.
- Chinese contractors are amongst the top 5 contractors in the UAE.
- The Chinese are key players in construction finance.
- The 2ndlargest contractor in the UAE is a Chinese player, with projects worth almost $3M.
- Industry forecast estimate that Chinese firms will account for 6% of the total UAE contracts value between 2018 -2020; and 6% – 9% of contract values in Dubai.
- In Real Estate, according to recent reports by the Dubai Land Department (DLD), roughly ¼ of the transactions were from Chinese buyers, bringing in more than $3 billion.
The Chinese Tourist in the UAE
- Latest industry figures show that China is the 4th most significant tourist source market to the UAE, Top 10 for Dubai
- China is now one of the world’s largest outbound tourism market
- Chinese tourists to Dubai increased by 60% in 2017, according to Dubai Tourism & Culture Marketing (DTCM).
- Emirates Airlines, alone, offers direct flights to more than 13 cities in China.
- In the past 18 months, Chinese tourists are amongst the fastest-growing groups in the UAE, with growth rates as high as 49%.
- Industry experts predict that about 2.5M tourists will visit the GCC by 2021.
- Forecasts predict that 154M Chinese are expected to travel abroad in 2018, with the GCC attracting almost 2% of them.
Mr. Hany Hussain, the Vice President – Sales of DAMAC Properties will be presenting DAMAC projects at LPS Beijing 2018. See You soon!
Mr. Hany Hussain,Vice President – Sales,DAMAC Properties