Dubai targets Dh1bn of Chinese real estate investment in 2019

Dubai targets Dh1bn of Chinese real estate investment in 2019
02/02/2019 , by , in INTERNATIONAL

Dubai Land Department, part of Dubai Government, plans to ramp up efforts to promote UAE real estate to prospective Chinese investors, with the goal of attracting at least Dh1 billion of inward property investment in 2019, officials said.

“We are targeting an expansion [of our presence] in China this year, because the results of our last efforts were strong with high levels of investment after we opened offices in Beijing and Shanghai,” Majida Ali Rashed, chief executive of DLD’s Real Estate Investment and Promotion and Management Sector, told reporters on Tuesday.

Dubai recorded Dh162bn worth of real estate transactions in the first nine months of 2018 – the latest period for which figures are available, according to DLD.

Investors from China accounted for Dh1.7bn of the total, and Chinese investors were among the top four foreign nationalities who invested in Dubai, alongside Indians, Britons and Pakistanis.

DLD opened its two representative offices in China in the past two years including Beijing last June, and aims to open a third in the southern industrial city of Shenzhen, as well as other regions. “We are targeting different areas of China,” Ms Rashed said.

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