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Chinese nationals have invested over AED 14.3 billion in the Dubai realty market
Dubai, United Arab Emirates: After the roaring success of Dubai Property Show in China last March and the phenomenal response it garnered in other global destinations like Mumbai and London, the eighth edition of the popular Dubai real estate exhibition is now headed to Shanghai once again. The exhibition will be held at the prestigious Shanghai Everbright Convention & Exhibition Centre from 31st August to 2nd September 2018.
Dubai Land Department (DLD) and Sumansa Exhibitions have collaborated once again for this unique real estate showcase of Dubai realty. The best real estate developers will attend the event in Shanghai this year to promote Dubai as a real estate investment destination to Chinese investors. According to Dubai Land Department, Chinese investors pumped in up to AED 14.3 billion into the Dubai property market and are among the top 10 investors. These property transactions are also projected to increase thanks to Chinese nationals being granted their visas on arrival to Dubai.
Her Excellency Majida Ali Rashed, Assistant Director General, Head of the Real Estate Investment Management and Promotion Centre commented: “We are delighted to collaborate with Sumansa Exhibitions again after the success of last year’s Dubai Property Show in Shanghai. Dubai is the one of the most attractive cities for foreign investors and DLD is always looking for ways to further strengthen the Emirate’s position in achieving the sustainable growth of its real estate sector. China is one of the most prominent foreign investors in Dubai and we are proud to be oraginsing this prestigious show again this year, and look forward to doing so for many more years to come.”
HE Salem Almoosa, Chairman and General Manager, Falconcity of Wonders LLC, said: "Our participation in Dubai Property Show in Shanghai this year is of great significance in the light of China’s growing importance to Dubai’s real estate, with present cumulative investments exceeding AED 14.3 billion. Further encouraged by the strong and stable relations between the two nations, growing number of tourists — which has doubled from 400,000 to 760,000 annually — and the entry of major Chinese contracting firms into the Emirate, Chinese investments in the Dubai’s realty will continue to flourish. Thanks to the support from Dubai Land Department, we were able to record an overwhelming response from Chinese investors in our developments.”
Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “As the event’s Platinum Sponsor, Emaar is underscoring its focus on strengthening engagement with Chinese investors through our participation in Dubai Property Show in Shanghai. We have garnered significant interest from Chinese nationals in our developments in Dubai, including the Dubai Creek Harbour, Dubai Hills Estate and Emaar Beachfront, in addition to Downtown Dubai being one of the most-visited destinations by Chinese tourists. We are showcasing all these developments at the exhibition and highlighting our plans to develop the Middle East’s largest Chinatown in Dubai Square — the retail metropolis of the future located in Dubai Creek Harbour. We are also expanding our presence with three dedicated offices in the country — Beijing, Shanghai and Guangzhou — to promote tourism, education, and trade and investment between the UAE and China.”
Mr. PNC Menon, Founder & Chairman, Sobha Group says, “Dubai is one of the most popular destinations for Chinese nationals, not just for vacationing and shopping, but also for the overall aspirational lifestyle it offers. Over the years, the Emirate has emerged as a strong business hub that offers various investment incentives and tax-free policies, and the number of Dubai expatriate residents exceed two million — forming a formidable part of its workface. Such factors make it easy to understand why Chinese nationals are heavily investing in Dubai properties, and with foreign real estate investments in the first half of 2018 coming from foreign investments amounting AED 111 billion, the Dubai property market continues to be the preferred investment destination for various nationalities. Dubai has always been under the spotlight for Chinese looking to invest in global property markets.”
Menon concluded: “Dubai offers a range of exciting projects that cater to every investor need. Sobha Hartland, surrounded by 2.4 million sq ft of greenery and set along the Dubai Water Canal, enjoys the unique advantage of a prime location backed by over 42 years of expertise. With Hartland Greens, Waterfront villas, and Hartland Estates Townhouses, Sobha Group continues to set a benchmark in offering a bespoke, world-class living experience.’’
Himanshu Gupta, General Manager at Sumansa Exhibitions LLC, organisers of Dubai Property Show, said, “We have seen rising interest from Chinese investors and there cannot be a more opportune time to promote Dubai’s attractive real estate proposition to them. We have always worked on bridging the gap by bringing exhibitors and buyers face to face through our specialised property shows as Chinese investors are attracted by higher rental yields on properties and the huge margin for capital appreciation in Dubai. 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”.
As part of the International Strategic Alliance Initiative, it has identified and created strategic partnerships with top real estate firms, broker associations, real estate consultants, wealth management firms, online portals, chambers of commerce, embassies and many other key partners.
Dubai Property show will bring together world-class developers from Dubai and the UAE through hundreds of projects that will be on display, including thousands of properties to choose from, ranging from apartments to row houses, and from villas to commercial properties. The exhibition will also showcase apartments that come bundled with special benefits, including no rental income tax, no capital gain tax, no restrictions on repatriation of funds, the inclusion of a property investor visa, and 100% ownership — free hold. All payments and investments will go through escrow accounts monitored by Dubai Land Department.
Visitors to the show will have the opportunity to attend free seminars offered by qualified professionals with experience in property, law, and other subjects, where they will learn about property investments, upcoming Dubai hotspots, financing and legal information to keep in mind when investing in Dubai, and much more. Exclusive payment plans and financial loans will also be made available.
Dubai Property Show is made possible due to the patronage of platinum sponsors Falconcity of Wonders, Emaar Properties, and Sobha, and gold sponsor MAG Lifestyle Development. The show also benefited from the gracious partnerships of the UAE Embassy in China, Dubai Chamber, Dubai Tourism, Dubai Police, and the Knowledge and Human Development Authority (Government agency partners); Emirates (airline partner); Aston Martin Shanghai (luxury partner); Tencent Property (online partner); Knight Frank (knowledge partner); 5i5j (real estate brokerage partner); China Real Estate Association, China Real Estate
Club and Shanghai Real Estate Broker Trade Association (association partners); and China Arab TV (television partner)
With the UAE – China week recently concluding, and with the signing of over 13 agreements, we look forward to further investments and synergy between the two nations.
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About Dubai Land Department:
Dubai Land Department (DLD) was found in May 1960 to establish the most prominent real estate sector in the Middle East and in the world.
DLD provides outstanding services to all its customers whilst developing the necessary legislation to propel the real estate sector in Dubai, organizing and promoting real estate investment, and spreading industry knowledge. DLD seeks regional and worldwide innovation in real estate with the aid of its active organizations that include: Real Estate Regulatory Agency, the regulatory arm, Real Estate Investment Management & Promotion Center, the investment arm, Dubai Real Estate Institute, the educational arm, and Rental Dispute Center, the judicial arm.
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