Chinese Investments Set New Records in Dubai
BEIJING, October 22, 2015 /PRNewswire/ --
CNY 2.76 Billion Investments in Real Estate within 8 Months and Over 4000 Chinese Enterprises Operating in The Emirate
Chinese investments in Dubai are setting new records in various fields of business. This eye catching trend was highlighted recently by several numbers supporting that Dubai is one of the best destinations for investment in the world and especially for Chinese individuals and companies.
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Based on the recent statistics issued by the Dubai Land Department, Chinese investments in the emirate's real estate sector reached CNY 2.24 Billion last year, which constitutes more than 300% rise compared to 2013 as stated by The Economic Voice newspaper. And the numbers announced last week by the same department reveal that the total value of real estate investments from Chinese individuals in Dubai during the first 8 months of 2015, reached CNY 2.07 Billion, as stated by the Dubai based Emarat Al Yaoum newspaper.
Chinese investors came in 6th position in term of total investment value during the 8 months period after Indians (CNY 23.3 Billion), British (CNY 12.8 Billion), Iranians (CNY 4.6), Canadians (CNY 4.4), and Russians (CNY 3.1). The top 10 list includes as well the Americans with CNY 2.2 Billion, the French (CNY 1.6 Billion), and the Afghanis with CNY 1.2 Billion.
Ziad El Chaar, Managing Director of DAMAC Properties said: "This transcending trend of investments from Chinese individual investors and companies reflects a positive sentiment of business practice in the prosper city of Dubai."
He added: "The real estate sector is one of the best business fields illustrating the lucrative return on investment, with rental yields reaching between 6% and 8%, which boosts the interest of every person looking for high return on investment driven from a foreign property, within a tax free environment. The volume of real estate transactions recorded in the first 8 months of 2015 reaching CNY 149.6 Billion, as announced by the Dubai Land Department, is another proof of the growing appetite of investing in the properties sector."
The government of Dubai has regulated the real estate sector and issued several laws protecting the interest of investors which is known now as one of the best regulated real estate markets in the world.
In addition to this, the safe environment for living and doing business, is attracting entrepreneurs as well as established multinational companies to the emirate.
The Beijing Youth Daily stated that 4,200 Chinese enterprises are operating in Dubai. And as many as "100 thousands Chinese residents live in the Dragon City, the largest trading centre for Chinese goods outside China", as reported by Want China Times.
DAMAC Properties, one of the leading luxury real estate developers in Dubai was the first to recognize the importance of the Chinese market. The company proactively approached the Chinese market through various activation programs and joint ventures represented mainly by the cooperation with 5i5j one of the biggest real estate agent companies in China. In addition, DAMAC properties organized several investment seminars and road shows in various cities in China, presenting investment opportunities to companies and individuals. These programs are still on-going during the month of October 2015.
DAMAC Properties has more than 13 years' experience in delivering high quality luxury living throughout Dubai, and a number of limited edition homes in collaboration with global brands including Versace, FENDI, Paramount Hotels & Resorts, The Trump Organisation and Bugatti.
As of 30th June 2015, DAMAC Properties has delivered 14,375 homes and has a development portfolio of over 37,000 units at various stages of progress and planning.
Further information is available at http://www.damacproperties.com
Niall McLoughlin, Senior Vice President, DAMAC Properties. niall.mcloughlin@damacgroup.com, Tel: +971-4-3731000
SOURCE DAMAC Properties
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