Sunday , May 27 2018

Britons invest $8.47bn in Dubai real estate

ABU DHABI / WAM

British nationals have invested $8.47 billion (AED31.1 billion) in Dubai’s real estate during the last four years (2014-2017), according to the statistics released by Dubai Land Department (DLD). The United Kingdom is one of the largest investment source markets for Dubai’s real estate.
Following the Brexit vote in 2016 and subsequent move for separation from European Union by the British Government, Britain has witnessed a massive outflow of capital towards outbound investment.
“Sustained investor appetite for European real estate led to a 22 percent increase in volumes during 2017, with all European regions registering growth,” Jones Lang LaSalle, an investment management company, said in a latest report.
Besides, the sound regulatory environment and solid foreign investor protection makes Dubai an ideal market for investment for British investors and other foreign investors in Britain who want to invest their money in a more stable and higher-yield market and the UAE fits the bill.
A number of UAE property developers have tried to reach out to British home buyers and investors, by setting up offices and appointing brokers to promote Dubai’s real estate in the UK, especially in key cities of London, Manchester and other centres.
The International Real Estate and Investment Show, IREIS, is also set to bring the biggest international names in the real estate and investment industry to London with IREIS 2018 – UK Edition.

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