Chinese investors cash in on Dubai’s realty boom | GulfNews.com:
"About 24 kilometres from the Burj Khalifa on the edge of the desert is a growing housing and retail community that would look more at home in Beijing than Dubai: Stores and restaurants have Chinese signs and a huge dragon sculpture adorns the Dragon Mart shopping mall. After pouring billions of dollars into cities including London, New York and Sydney, individual investors and developers in China are expanding into Dubai. About a 1,000 individual Chinese investors spent Dh1.3 billion on land, residential units and office real estate in Dubai last year, according to data from Dubai Land Department. That is a nearly three-fold increase from the Dh486 million spent by 288 Chinese investors the previous year.
Overall, property transactions by individuals in the emirate climbed 53 per cent last year to Dh236 billion, with foreign investors buying Dh114 billion of land and property. “Dubai is becoming more and more known by the Chinese people,” says Wang Liao, owner of Dubai based Atomic Properties, a broker that predominantly caters to Chinese buyers and is located a short walk from Dragon Mart."
'via Blog this'
No comments:
Post a Comment