Investors from Kuwait now account for nearly 60% of all properties purchased by GCC nationals in the emirate of Dubai, according to new figures from the UAE Ministry of Finance.
Luxury Dubai-based developer DAMAC Properties responded to the figures, by confirming it has observed an increase in inquiries from Gulf investors, particularly Kuwaiti nationals, over the past six months.
“Dubai is only an hour and a half flight from Kuwait, which makes it an ideal location for a second home, or even a primary home for some Kuwaitis. Dubai has always been popular with Kuwaiti investors, but given the price and the quality of properties now available on the market, Dubai offers phenomenal value for money” said Niall Mc Loughlin, Senior Vice President of DAMAC Properties.
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