Dubai Targets Overseas Investors On Property Market
The property market in Dubai is going all out in chasing investors overseas. To officially roll out the plan, a number of roadshows are expected to be held in many key markets overseas including China, Russia, India, and the US. These roadshows are going to take place through the year with the goal of getting potential investors in these markets to take notice of the many possibilities that await them if they decide to pour their funds into the Dubai property market. The initiative is being backed by Dubai’s Land Department.
First of these roadshows will be conducted closer. A two-day event is slated for Kuwait and Amman in late March. This is going to be followed by similar events in Cairo which will take place in April, Beijing, which will happen in May, and Moscow, which is set for July. A North American leg has also been in the works and it is set for the month of October for locations such as Dallas and Chicago. Meanwhile, London is expected to showcase the realty market in Dubai in September for more than three days and Mumbai will get its chance in December.
Last year has seen Chinese and Arab investors being active in the freehold space offered in Dubai. Indians came second as the biggest buyers. They came only after UAE nationals. The series of activities that were conducted overseas last year helped generate billions worth of enquiries. The message that is being sent to potential overseas investors is that Dubai offers a yield of 7%-11%- which is significantly higher when compared to the 3%-5% that other markets offer.
As a way of supporting the initiative, the Land Department has established promotion trustees that are already operating in the head office in Dubai. They are tasked to act as liaisons for interested international buyers. They also offer necessary back-end support. The department is also trying to increase more effort towards pushing the city’s profile as an ideal destination for realty investment. It has just confirmed a property show for April which is expected to open new windows of possibilities for realty transactions.
However, the biggest push is eyed for overseas buyers. Sources say that the considerable focus is placed upon the Chinese market, which is tagged as something that will have a huge influence in the Dubai property market thanks to the fact that they have figured in the top 10 nationalities that are purchasing property in Dubai.
Many state enterprises from China are already active in providing backing for certain projects. The same is true with many of their huge construction companies. In addition, sources in the market believe that support for Indian buyers should be kept consistent this year as they are among the top nationalities that have been pouring considerable funds into the city’s real estate market.
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