Dubai Sets New Record: 38 Indians to Invest Rs. 6,800 Crore in Property

This year, a staggering 38 affluent Indians, categorized as High Net Worth Individuals (HNWIs), are poised to collectively spend Rs. 6,800 crore on property acquisitions in Dubai. Among these investors, 21 hail from global destinations, while 17 originate from Gulf countries. 

Indians top the list of buyers in Gulf countries, holding the first position, whereas globally, they rank fifth among property buyers.

In Dubai’s real estate sector alone, a whopping sum of around Rs. 36,000 crore is anticipated to be invested by HNWIs worldwide this year. NightFrank’s research reveals that out of the total property buyers, 217 are global investors, and 100 are travelers from Gulf nations. 

Faisal Durrani, Head of Research at Knight Frank, pointed out that the inclination towards purchasing property in Dubai among affluent individuals has surged significantly over the past five years, with a remarkable increase from 28% to 78% during this period among those with assets worth more than Rs. 125 crore.

Indians Leading in Residential Property Investments

In Dubai’s real estate sector, residential properties are emerging as the top choice for Indian investors. Dr. Sameer Mohammad, Chairman of Air Chateau, revealed that private helicopter services are also available for affluent individuals, making Dubai an ideal destination for quick business meetings. 

Additionally, the introduction of air taxis in Dubai is expected to commence shortly, further enhancing accessibility and convenience for investors and residents alike.

Record Property Deal of 1.20 Million in UAE

Last year, the United Arab Emirates (UAE) witnessed a monumental property deal amounting to approximately 7.8 lakh crore rupees. A staggering 1.20 lakh property transactions took place in the UAE, surpassing previous records. 

Dubai remained the top choice for buyers, followed by Abu Dhabi and Sharjah, securing the second and third positions, respectively.

Ultra High Net Worth Individuals Set Record High in Dubai Property Deals

Last year, Dubai witnessed an unprecedented surge in property purchases by ultra high net worth individuals (UHNWIs), with record-breaking expenditures. 

While previously, 25 buyers spent between 500 crore to 650 crore rupees on a single property, this trend escalated further as 16 buyers splurged over 650 crore rupees each for their residential investments.