Complex Made Simple

Dubai witnesses $40 billion property deals in ten years

International Property Show attracts 99,883 visitors in this period

The value of real estate deals during the International Property Show 2015 in Dubai exceeded $40 billion during the period 2006-2015.

Observers noted that the value of real estate deals concluded during the exhibition in ten years exceeded the cost of building the first Smart city – Gujarat International Finance Tec-City (GIFT) – in India, the Istanbul Financial Center in Turkey and the British touristic city of Stratford by $10bn.

During this period, the exhibition attracted 99,883 visitors and the UAE recorded the highest proportion of real estate transactions, reports Bahrain-based Al Watan.

Dubai Land Department’s report says that foreign investors (132 nationalities) conducted deals worth AED46bn ($12.5bn) during the first nine months of this year.

Indians topped the list with deals worth AED13bn, followed by the British with AED7bn and Pakistanis with AED5bn. The list also included investors from other countries such as Canada, Russia, China, the US and France.

($1 = AED3.67, at the time of publishing)