Pakistani investments in Dubai real estate stand at AED 30.64 billion in five years
The International Property Show, the Middle East’s biggest property sales platform for local and international real estate markets, will see ‘Express Pakistan Pavilion’ debut in its 12th edition. Residential, commercial and mixed-used property projects from major cities of Pakistan including Islamabad, Lahore, Karachi, Multan, Bahawalpur, Gujranwala, Peshawar, Faisalabad, Quetta, and Sialkot will be on display in the pavilion exceeding an area of 645 m2, from 11 – 13 April 2016 at the Dubai International Convention and Exhibition Centre.
“We are gearing up to host the first ever Pakistan Property Exhibition as part of the International Property Show 2016 which aims to attract investment from international and Pakistani expatriates living in the Gulf in the forthcoming edition of the show,” says Dawood Al Shezawi, President of Strategic Marketing & Exhibitions, organisers of the leading realty show. “Developers and brokers from Pakistan are looking forward to interact with the Pakistani community in the UAE to present them with ideal opportunities in the homeland. In addition, many first-time participants disclosed plans to use the platform to interact with international and regional investors in the show.”
“Our group is extremely excited to participate in this leading show, an initiative taken by Express Media Group. We’ll exhibit our projects of Sheikhupura, Gujranwala, Faisalabad and Lahore for Pakistanis based in Dubai in a bid to bring them closer to the Motherland,” says Asghar Goraya of Fast Marketing Company.
Official from ORBIT Developers adds: “We have taken up the opportunity given to us by the Express Media Group to be present at the show where we plan to exhibit our luxury apartments. The showcased units are designed to give a feel of Dubai in Lahore to the Pakistanis based in the host city.”
ATHERS MARKETING articulates their enthusiasm by saying: “It is a great initiative by Express Media Group. This show will open up new horizons for the Pakistan Real Estate industry.”
Izhaar Monnoo Group adds: “We appreciate the effort of Express Media Group for providing us the platform of this show which will give us an opportunity to show the World what we have to offer in our country and how fruitful it is to Invest in Pakistan.”
Licensed by Real Estate Regulatory Agency (RERA), the International Property Show 2016 is the only one of its kind providing direct real estate transactions on its floor where all exhibitors are officially entitled to collect down payments for transactions made as well as present title deeds to purchasers at the show.
According to the Dubai Land Department (DLD) figures, with their total realty investments in Dubai reaching AED 8 billion in 2015, out of the total investment from non-Arab expats surpassing AED 74 billion, Pakistanis were the third largest investors. “Despite the uncertainty in the global property market, they are very confident in the tangible ROI in Dubai market. Compared to 2014, their investment in the Dubai property market increased 6.7 per cent in 2015.
“The International Property Show 2016 will serve as a sales platform accredited with facilitating direct transactions on the exhibition floor. We have collaborated with Express Media Group and MassComm Solutions to place the largest Pakistani presence on the show since its inception. We understand the leading role of Pakistani investors in the regional property market and such a full-fledged pavilion will yield good results for the industry and purchasers alike,” added Al Shezawi.
Renowned Pakistani exhibitors such as Star Marketing, Arkadian, Bahria Town, FMC, Izhar Monnoo, New York Builders, Maxim, Athar Marketing, Orbit Developers, Habib Rafique Limited and Pace Circle to name a few will take part in the International Property Show 2016.
“With an investment of AED 30.64 billion in the last five years, Pakistanis are considered among the top three investors in the Dubai property market. Significant groups of Pakistani investors in the property market are expats living in the UAE and wider Gulf region.
The Pakistani investments in the realty sector in the UAE come at a time when the dirham’s peg to the US dollar makes less Pakistanis willing to convert their domestic currency into dirhams to acquire property in Dubai as they favor purchasing investments in their home country instead. Despite this economic fact, Pakistani investors in the realty market in the UAE have been one of the top three for a couple of years.
Dubai is still a very attractive investment market for Pakistani investors due to the high rental yields that ranges between 8% to 10%, while the investment in the UAE realty market secure huge financial transfers to Pakistan generated from profits coming from the sales or income of rental properties owned by Pakistanis. According to the Financial Year 2015 – 2016, the total Pakistani expatriates’ remittances from Dubai to Pakistan amounted to USD 1.67 billion with a growth by 39.7% of total Pakistani remittance transfers to Dubai.
“Through the new pavilion, we will allow direct sales onsite to so many Pakistani visitors interested in investing in their home country as well as others,” added Al Shezawi
International Property Show is considered a one-of-a-kind specialised fair as it primarily targets end-users who wish to buy units on the spot. Al Shezawi said the show has been positioned as a powerful retail platform targeting all types of potential buyers who can shop for properties with ease and comfort.
“Attracting international and Pakistani expatriates, the Pakistani pavilion at the International Property Show will bring together developers, real estate advisers, private and institutional dealers from the Middle East, Europe and Asia Pacific region under one roof,” concluded Al Shezawi.