Over a quarter of GCC property investors choose Dubai
About 27% of Gulf investors planning on buying real estate in 2016 will choose the UAE city, lured by the Middle East’s best business environment and high returns.
Last year AED 44 billion was invested by GCC nationals into the emirate’s property sector – and a new report reveals that the region’s investor community plans to acquire more assets in Dubai in 2016.
A survey conducted by Cluttons found that 63% of the high-net worth GCC individuals polled plan to invest in a number of regional locations this year. The highest proportion of which, 27%, pinpointed Dubai as the location they prefer above any other, followed by Abu Dhabi (21%) and Sharjah (8%).
The report asserts that Dubai’s “attraction stems from its ability to offer a world-class business environment and infrastructure that is unmatched anywhere in the Middle East.”
Faisal Durrani, Head of Research at Cluttons, declared that the emirate’s diverse product range and proven track record of delivering high returns from property investment is undoubtedly one of Dubai’s clear draws.
“The variety of investment options available in Dubai range from low-end, high yielding residential units in peripheral schemes such as International City and Discovery Gardens, to more sophisticated investment options in the office market, where yields can range from 6.5% to 9%,” he said.
Last month it was reported that the number of properties currently for sale in Dubai is failing to keep up with demand, with the city’s population growing by 7% each year.