Sobha Realty records 60pc of expat investors in UAE
UAE-based Sobha Realty has reported steady growth in investments from foreign nationals, recording 60% of expat investors who are residing overseas, for projects in the UAE. Indians topped the investors' list followed by Russians, Chinese and Emiratis.
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Sobha Realty, a leading UAE real estate developer, has reported a steady increase in investments from foreign investors, recording nearly 60 per cent of foreign national investors residing overseas, for its projects in the UAE.
Findings indicate that Indian, Russian, Chinese, and Emirati nationals constitute the top four investors in Sobha Realty, followed by Saudi, British, and Nigerian nationals.
According to Sobha, the real estate sector in the UAE is currently witnessing a rise in demand for prime properties, from both foreign and resident investors.
Moreover, Sobha Realty anticipates the market to continue its upward trajectory with more foreign investors entering the sector, driven by visa reforms, economic stability, and sustainable residences among other factors.
Evolving labor laws in the UAE, as well as growing business opportunities in the region, have also contributed to the increase in foreign investments, stated the developer.
Group Chairman PNC Menon said: "Foreign investors help drive real estate demand and prices, resulting in improved returns on investments. Since 2021, the recorded total sales transactions in the local industry have risen and remained above the average monthly transactions, while the overall sales price index has shown constant growth since June 2020."
"The trends continue to indicate strong investor confidence and preference for high-quality homes. Keeping up with these developments, we have been ramping up our efforts to meet the increasing demand for luxury homes, as we remain committed to delivering quality residences according to the requirements of the market," he added.-TradeArabia News Service
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