Jordanians top Arab list of investors in Dubai’s property market

AMMAN – Jordanians topped the list of Arab investors in Dubai’s property market during the first half of this year, according to official data from the Gulf emirate. 

Figures released by Dubai Land Department (DLD) on Saturday showed that Jordanian investors registered 640 transactions valued at 1.347 billion United Arab Emirates dirhams –– around JD260 million or $366 million –– during the January-June period of 2014. 

The report  revealed that a total of 20 foreign and Arab nationalities invested 37.5 billion dirhams (JD7.2 billion, $10.2 billion) in Dubai properties during the first six months.

Jordanian investors were followed by Lebanese who purchased 459 properties valued at 1.2 billion dirhams (JD238 million). Egyptians came third on the list followed by Iraqis. 

According to DLD’s report, Indians were the top investors as they spent over JD2 billion on 4,417 properties by the end of June of this year.

Britons came second on the table of foreign investors with 2,258 transactions worth JD1.1 billion, followed by investors from Pakistan, Iran and Canada. 

DLD Director General Sultan Butti Bin Mejren expects demand on properties in Dubai to grow even further in the near future as there would be some major real estate projects.    

“We are extremely proud of these positive results, as they reflect a building momentum in Dubai’s real estate market which has now re-asserted itself on both the regional and global stage. We are certain that the future will see even more demand, especially in light of the government’s declaration of forthcoming major projects,” he was quoted as saying on the Facebook page of the DLD.