Emiratis, Indians, Saudi Arabians, Britons and Pakistanis remained the top buyers of Dubai property over the past 18 months, according to new data released by the emirate's Land Department.

It said that 151 billion UAE dirhams worth of investments have been completed over the past 18 months, with purchases made by 217 nationalities.

Emiratis were responsible for just under one quarter (24.8 percent) of deals, investing 37.4 billion dirhams in the sector, via 12,000 transactions.

Indians represented the second-biggest group of buyers, buying 20.4 billion dirhams (13.5 percent) worth of property through 20,420 transactions.

Pakistanis were the third-biggest group of buyers in volume terms, completing 5,398 deals and spending just over 7 billion dirhams (4.6 percent) on real estate. However, in terms of the value of deals done, they were the fifth-biggest group of investors, behind Saudi Arabians and buyers from the United Kingdom.

Saudis spent over 12.5 billion dirhams (about 11 percent) on property investments, completing 5,366 deals and buyers from the UK spent 8.9 billion dirhams (5.9 per cent), completing 4,188 transactions.

Buyers from Egypt (2,439 deals), Jordan (2,325), China (2,177), Lebanon (1,313) and the USA (1,119) made up the remainder of the top ten.

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Sultan Butti bin Mejren

Sultan Butti bin Mejren, director-general of Dubai Land Department, said the list "demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system".

He said that in total, 71,000 transactions had been completed over the 18 month period. About one-third of these were made by other, unspecified nationalities, who bought almost 48.7 billion dirhams worth of property.

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© Zawya 2017