Dubai is increasingly attracting Saudi Arabian property investors. Learn what is enticing them and how to get involved.
As a real estate investor, a top priority is to find properties that will provide massive returns and gains. Dubai’s rapid growth has seen an influx of expatriates and foreign nationals, particularly from neighbouring Saudi Arabia, purchase property.
Saudi Arabia and the U.AE.
The two countries have resolute social, cultural, religious, political, historical and economic ties, a relationship that has happily spilt over into the real estate domain. Saudi Arabian investors are regular visitors to popular real estate events like Cityscape, and real estate investment from the country into U.A.E. markets crossed AED 30 billion recently, a result of the United Arab Emirates’ welcoming rules and regulations.
It is the culmination of a strong-performing UAE property sector, a trend that has been steadily gaining in prominence. As early as 2014, Sultan Butti Bin Mejren, the Director General of the Dubai Land Department (DLD), remarked that, “UAE investors made 2,513 transactions worth a total of AED 12.568 billion in the first six months of the current year. The figure indicates the great demand from UAE nationals in investing in property in Dubai and sends out a reassuring message to all other categories of investor. In addition to strengthening confidence in the market, it provides solid foundations that will ensure its sustainability and long-term stability.”
According to a 2017 DLD report on GCC real estate transactions in Dubai, Saudi nationals invested more than AED 7 billion in Dubai’s market that year—ranking third-highest amongst all nationalities.
A Bayut study also found that out of one million page views from Saudi Arabia, more than half (68%) were to do with properties in Dubai. Investor-friendly policies, a thriving and constantly expanding real estate sector, and an unimpeachable quality of developments, not to mention Saudi Arabian familiarity with Dubai, are among a host of reasons for this interest. It is expected that the increasing rate of investment is sustained as 2022 unfolds.
Where To Invest In Dubai
At Christie’s International Real Estate Dubai, we have a wealth of experience in facilitating transactions for international clients, ensuring a smooth and discreet real estate process. With the recent conclusion of the hugely successful Expo 2020, and the adroit handling of the pandemic by local authorities, the Dubai real estate market is all set to bear witness to an increasing rate of developments in the coming months. Some popular locations synonymous with the best of luxury living include:
With unfettered access to some of Dubai’s most renowned shopping malls, restaurants, bars and other fashionable experiences, the famous archipelago of artificial islands offers the perfect blend of nature’s tranquility and the bustling noise of the city. Wake up every morning to ceaseless smooth sand and serene sea views, to say nothing of the island’s iconic palm tree shape, and be mere moments away from Dubai’s most elite hubs.
With the iconic Burj Khalifa as its centrepiece, Downtown Dubai is the epitome of exclusivity. The thriving cluster of luxury apartments and penthouses are moments away from endless shopping and entertainment activities, as well as the landmark Dubai Mall the world’s largest shopping destination.
The largest man-made marina in the world features a stunning range of luxurious villas and high-rise apartments, not to mention much sought-after residences in Emirates Golf Club. Tucked away in the heart of newer Dubai developments, this area boasts a multitude of dining and retail options, as well as the picturesque waterside promenade of Dubai Marina Walk.
Sitting on over a thousand hectares of lush, green land, the Jumeirah Golf Estates prove irresistible, especially for golf lovers. The Estates feature some of the most spacious and elegant villas in Dubai, secure within a gated community that promises privacy, to say nothing of the expansive views of two of the city’s most exclusive golf courses.
This new man-made island by Meraas is a bustling hotspot for waterfront activities. With iconic destinations like Caesar’s Palace, the island’s main beach club and a restaurant by celebrity chef Gordon Ramsey, the area provides the perfect blend of luxury residences and luxury recreation. Its most recognisable feature, however, is the newly-opened Ain Dubai, the world’s highest observation wheel.
It is clear that the Dubai property market is eminently viable for foreign investors, providing opportunities with the highest quality and pace for investing in significant real estate gains. Backed by the world’s esteemed art auction business, Christie’s International Real Estate Dubai has a broad spectrum of experience to call upon to meet your bespoke needs and handle your lucrative investments in the constantly growing Dubai real estate market. Contact a member of our team today.
