The Emirati newspaper *Al-Bayan* published a report from the Saudi newspaper *Amlak*, which includes in this issue a supplement covering the UAE real estate market, The high level of Saudi interest in investing in the real estate market in the United Arab Emirates in general, and in Dubai in particular, is reflected in the upward trend in the number, value, and volume of transactions in most areas of the emirate.
Saudi investors have not only played a prominent role in the freehold property market and the real estate development industry, but their presence has also been—and continues to be—clearly evident in real estate purchases, whether for long-term investment purposes or for use as a second home or vacation home. The newspaper noted that Saudi investors" confidence stems from and is rooted in their sense of security and peace of mind in their second home, the United Arab Emirates.
Al-Bayan quoted statements from the newspaper "Amlak,” which recently opened an office in Dubai, regarding the total value of purchase transactions concluded by Saudi investors over the past 16 years, which exceeded 78.6 billion dirhams in the real estate market across the UAE, including 58.6 billion dirhams, in addition to 20 billion dirhams in real estate markets in other UAE cities. The number of investors exceeded 11,000, with more than 22,000 transactions in the Dubai real estate market alone, and the average annual value of Saudi purchases reached 3.6 billion dirhams, while the average value of purchase transactions was 2.7 million dirhams.
Ali Al-Shawi, director of the "Amlak Real Estate” newspaper office in the UAE, explained that real estate development companies in Dubai are showing interest in Saudi investors. Emaar Properties has stood out in creating special marketing strategies for its projects, tailoring them exclusively to Saudi investors and offering them exclusive deals and site visits to highlight the importance of investing in them. In turn, Saudi investors continue to invest in Emaar projects and others, expressing interest in real estate projects being launched in the UAE in general and viewing with a keen investment eye the growth opportunities these projects offer—specifically new projects in Dubai’s freehold areas Last year, in 2016, 3,294 Saudi investors spent 8 billion dirhams on real estate in Dubai, surpassing other investors from the Gulf Cooperation Council (GCC) countries; these statistics are documented in the records of the Dubai Land Department.
Al-Shawi noted that Saudi investors have maintained their lead among Gulf and Arab investors in terms of both the number of investments and total value, leading to the belief that they will remain at the forefront both now and in the future, having confirmed theabundant returns from their continued investment in the real estate market, which is renowned worldwide for its appeal.
Presence
Al-Shawi said that the presence of Saudi investors in various economic activities in the UAE—specifically in the real estate market—is of great strategic importance for enhancing the market’s appeal and stability. He noted that many Saudis prefer to invest in Dubai not only because of the returns but also due to the strong fraternal ties that bind the Kingdom and the UAE, in addition to other deep historical commonalities in terms of culture, customs, and traditions.
Al-Shawi explained that Saudi investors have a strong presence in real estate projects located in the areas most attractive to them, notably the Burj Khalifa area, Dubai Marina, Palm Jumeirah, Business Bay, and Dubai Creek.
He said that the entire world views with respect and appreciation the great diversity of investment opportunities here in Dubai, which has managed to protect itself from negative economic impacts by establishing world-class infrastructure for companies, investors, and residents.
The Department of Land and Property had previously reported that the number and value of real estate purchases by Saudi investors from 2002 through September 2017 approached 53 billion dirhams, with 10,000 investors recording more than 19,000 real estate transactions during that period.
It is worth noting that the United Arab Emirates is among the leading investors in the Kingdom, with investments exceeding 30 billion dirhams across 16 economic sectors, including construction and real estate.
