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Dubai Land Department and Sumansa Exhibitions collaborate for Dubai real estate exhibition in Shanghai
Chinese invested over AED 10 billion in Dubai realty market in last four years
Dubai, UAE: After the roaring success of the Dubai Property Show in Mumbai last December and the phenomenal response that it garnered in other global destinations including London and Hong Kong, the 6th edition of the popular Dubai real estate exhibition is now headed to Shanghai. The exhibition will be held at the prestigious Shanghai World Expo Exhibition & Convention Center on 24th, 25th & 26th March, 2017.
Dubai Land Department and Sumansa Exhibitions have collaborated once again for this unique real estate showcase of Dubai realty. The best of the real estate developers will be going to Shanghai this March to promote Dubai as a real estate investment destination to Chinese investors. According to Dubai Land Department, Chinese investors pumped in Dh 1.74 billion worth of investment in Dubai property market in 2016 and are amongst the top 10 investors.
Enthusiastic about the prospect of the upcoming exhibition in Shanghai, Sultan Al Suwaidi, Partner, Sumansa Exhibitions LLC, the organizers of the Dubai Property Show, said, “We have seen rising interest from the Chinese investors and there cannot be a more opportune time than this to promote Dubai’s attractive real estate proposition to them. We have always worked on bridging the gap by bringing the exhibitors and buyers face to face through our specialized property shows. Chinese investors are attracted towards earning higher rental yields on properties and tapping the huge margin for capital appreciation in Dubai. The investors range from wealthy individuals and private equity funds buying residential units to companies and funds setting up local joint ventures to invest in property projects”.
Dubai’s Chinese population grew by 53 per cent last year – to 253,000.Tourism from China to Dubai is growing rapidly. In 2015, Dubai welcomed 450,000 Chinese tourists, an increase of 29 per cent on the previous year and 13 Chinese cities including Beijing, Guangzhou, Shanghai and Shenzhen, as well as Hong Kong and Taipei, are connected to Dubai with more than 100 weekly flights. While the visa on arrival for Chinese visitors are also going to boost their property transactions.
HE Majida Ali Rashid, Assistant Director General, Head of Investment Management and Promotion Center, the investment arm of Dubai Land Department said: "Due to the high demand from Chinese investors in Dubai’s real estate, we are taking the successful Dubai Property Show to Shanghai. Dubai has become a leading regional, commercial, financial and tourist hub with a state-of-the-art infrastructure and a world class business environment, above all it provides investors with a unique and comprehensive value-added platform. Our participation in Dubai Property Show will always contribute to the promotion of the emirate as one of the best investment destinations in the world.”
Many wealthy Chinese have been buying properties overseas to diversify their investment portfolio and find Dubai attractive partly because they believe they can achieve returns of as much as 30 per cent annually which beats Hong Kong, Shanghai and Beijing. The show will also provide a platform for not mere wealthy investors, but to the general public on investment opportunities in the affordable housing segment in Dubai. More than 300,000 Chinese now visit Dubai each year as tourists, which is almost always a leading indicator for property transactions.
Masood Al Awar, Chief Commercial Officer, Dubai Properties (DP), the Platinum Sponsor Dubai Property Show said, “Dubai is the top performing investment location for real estate and, over the years, Chinese investors continue to be attracted by the higher rental yields and the huge margin for capital appreciation. Our participation at the Dubai Property Show China highlights our role in leading the development drive across Dubai with a broad choice for end-users and investors in residential and commercial real estate, across the full spectrum of the market – from luxury high-end products to more affordable offerings.”
As per the largest Chinese real estate online portal, UC FORWARD/ fang.com 2016 Overseas Property Investment Annual Report indicates that rental yield in Dubai can go as high as 8 percent to 10 percent for apartments in Dubai Marina, Jumeirah Lake Towers and Dubai Downtown and other areas. Meanwhile, yield for luxury villas is about 5 percent to 6 percent, depending on the locality. “Enquiries on UAE properties via the dubai.fang.com for second half of 2016 have risen 55 percent compared with first half of 2016”, said Wang Ning, Deputy General Manager of Fang.com International.
To pre-register and for more details about Dubai Property Show, log on to: http://dubaipropertyshow.com/,
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© Press Release 2017
