Dubai, UAE: Dubai Land Department (DLD) participated in the 20th Luxury Property Show (LPS) Shanghai at the Shanghai Convention Centre through a high-level delegation that included Majida Ali Rashid, CEO of the Promotion and Real Estate Investment Management Sector; and Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector.
During the show, held over three days, 6 – 8 December, DLD was accompanied by major real estate developers in Dubai as strategic partners to the show. The developers showcased their latest projects to 14,000 exclusively invited Chinese investors interested in investing in global real estate projects, luxury products, and services. More than 250 exhibitors from 40 countries around the world, including the UAE, participated in the show.
Majida Ali Rashid said: “Our participation in LPS 2019 came as part of our awareness of Dubai's position in the eyes of Chinese investors, especially in light of the volume of real estate investments they registered in the Emirate. Though there are several encouraging factors for them to invest in our real estate, we are keen on registering distinguished participation for us every year to inform them of the advantages and investment incentives that we provide as well as the Emirate’s strategic location as a link between the Middle East, Asia, and Europe. We took note of the fact that Chinese investors appreciate the safe environment, transparent transactions, and credibility that all parties showcase when dealing with investors to ensure that they get the best value for their money.”
LPS 2019 was sponsored by a spectrum of luxury brands, including cars, yachts, banks, embassies, legal institutions, and investment funds as well as Chinese business clubs, tourism authorities, and other companies and institutions that target the wealthy classes with the show’s services.
Majid Al Marri said: “Dubai is considered one of the safest cities in the world and the best in the MENA region. It also provides its residents and visitors with a world-class advanced infrastructure to attract foreign investors, especially Chinese investors. Since the UAE, and specifically Dubai, occupies an advanced global rank in the ease of doing business and opens its doors to many international and regional companies by providing accessible transactions, including property registration and others, it managed to gain wide international reputation and succeeded in highlighting its position to global investors.”
DLD’s participation in a special pavilion gained the attention of an increased number of Chinese investors. Before the event kicked-off, DLD received around 10,000 enquiries from Chinese investors, the majority of whom were CEOs, business owners, general managers, and members from top management levels. Many of them were looking for institutional investments in Dubai through their companies, and an increasing number of Chinese investors are looking to own personal properties in Dubai or establish partnerships with the real estate market in the Emirate.
When asked for the reasons behind choosing Dubai’s real estate market as an investment destination, Chinese investors mentioned several factors, including the high return on investment, the security and stability, the geographical factor, and its proximity to China, especially as a high proportion of these people praised The modern lifestyle the Emirate provides for them.
The volume of investments that the individual Chinese investor is willing to inject into Dubai’s real estate market ranged from $300,000 – $1.2 million. Dubai ranked fifth among investment destinations chosen by Chinese investors, coming after the USA, the UK, Canada, and Australia, and outperformed world-famous destinations, including Japan, Thailand, Singapore, Switzerland, and Malaysia. DAMAC, Emaar, Meraas – Dubai Holding, Danube, and Meydan, respectively, ranked among the leading companies that the Chinese investors prefer to deal with when choosing their properties.
DLD was accompanied by some of the most prominent developers and partners, including Nakheel, Meraas, Dubai Holding, Shoba Realty, Dubai Chamber, District 2020, Dubai Investments, and other real estate companies.
© Press Release 2019