The Dubai Land Department (DLD) received around 10,000 enquiries from Chinese investors, including CEOs, business owners, general managers, and members from top management levels, at China’s 20th Luxury Property Show (LPS) held on 6-8 December at the Shanghai Convention Centre.
Chinese investors the volume of investments that individual Chinese investors are willing to inject between $300,000 (AED1.1m) to $1.2m (AED4.4m) into Dubai’s real estate market, according to state-run news agency, Wam.
Dubai ranked fifth among investment destinations chosen by Chinese investors, with DAMAC, Emaar, Meraas – Dubai Holding, Danube, and Meydan, respectively, ranking among the leading companies preferred by Chinese investors.
DLD was accompanied by some prominent developers and partners, including Nakheel, Meraas, Dubai Holding, Sobha Realty, Dubai Chamber, District 2020, Dubai Investments, among other real estate companies.
The DLD’s delegation included its chief executive officer for the Promotion and Real Estate Investment Management Sector, Majida Ali Rashid, and its CEO of the Registration and Real Estate Services Sector Majid Saqr Al Marri.
More than 250 exhibitors from 40 countries around the world, including the UAE, participated in the Luxury Property Show.
Commenting on the interest from Chinese investors, Majida Ali Rashid said, “Though there are several encouraging factors for them to invest in our real estate, we are keen on registering distinguished participation for us every year to inform them of the advantages and investment incentives that we provide, as well as the emirate’s strategic location as a link between the Middle East, Asia, and Europe."
Majid Al Marri said, “Since the UAE, and specifically Dubai, occupies an advanced global rank in the ease of doing business and opens its doors to many international and regional companies by providing accessible transactions, including property registration and others, it managed to gain wide international reputation and succeeded in highlighting its position to global investors.”
When asked about the reasons for choosing Dubai’s real estate market as an investment destination, Chinese investors pointed to the high return on investments, security and stability, geographical factors, and its proximity to China.
Source: Construction Week Online
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