Pakistani investors increase interest in Dubai real estate market

SASC -- Real estate investors in Pakistan are peaking their interest in Dubai's property market, with enquiries rising "significantly" during the first six months of 2016, according to propertytrader.ae.

The real estate portal said searches on its website from would-be buyers from Pakistan have peaked this month, ahead of the 15th edition of Cityscape Global in Dubai.

Pakistan is often ranked among major investors in the Dubai real estate industry behind the UK, India, and Russia but new statistics from propertytrader.ae suggest its influence is rising.

“It has been an eventful first half of the year with Brexit and other economic factors shaping international property trends,” said Umer Ali, sales and marketing director, propertytrader.ae.

“So it is interesting to see this gradual, but definite rise in interest over just a few months from one country – Pakistan. There is clearly great interest there in the upcoming Cityscape Global and the opportunities it will inevitably highlight. August’s spike in searches is no coincidence.”

Ali said that Pakistan accounted for 10 percent of all searches on the site in August – rising dramatically from 3 percent in January. This placed the country in the top three for the first time this year, nudging out the UK.

In second position in August was Russia with 18 percent of all searches, with the UAE in first place at 48 percent.

Ali said it is estimated that Pakistanis have made an investment of around AED31 billion in the Dubai property market during the past five years.

Cityscape Global 2016, will take place on September 6-8 at Dubai World Trade Centre.

Source