Dubai still a property investment attraction

photo credit: Allan Henderson

Dubai remains a top attraction for property investment businesses in spite of global financial problems, top researchers have said.

Reidin, an online information company, said the amount of cash being ploughed into the emirate was still on the rise, with waterfront developments proving among the most popular schemes.

The company was on hand at the Urban Waterfronts Conference, held at the Hyatt Regency in Dubai from last Sunday to Tuesday.

Ahmet Kayhan, chief executive of Reidin, unveiled a report on how the UAE real estate market will be effected by trouble in world markets.

He said:

“With the global financial crisis notwithstanding, Dubai remains one of the most attractive destinations for investors from all over the world with over AED 158 billion invested since the beginning of 2008.”

This was compared with total investments of AED 151 billion for the whole of 2007, he added.

His company’s report also highlighted a ‘top 10′ of countries where buyers of Dubai investment property come from.

The run down includes India, Pakistan, Russia, Saudi Arabia and the UK. Buyers are also being attracted from Iran, Oman, Canada, Bahrain and Kuwait.

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