British nationals have invested US$8.47 billion (AED31.1 billion) in Dubai’s real estate during the last four years (2014-2017), according to the statistics released by Dubai Land Department, DLD. The United Kingdom is one of the largest investment source markets for Dubai’s real estate.
Following the Brexit vote in 2016 and subsequent move for separation from European Union by the British Government, Britain has witnessed a massive outflow of capital towards outbound investment.
“Sustained investor appetite for European real estate led to a 22 percent increase in volumes during 2017, with all European regions registering growth,” Jones Lang LaSalle, an investment management company, said in a latest report.
Besides, the sound regulatory environment and solid foreign investor protection makes Dubai an ideal market for investment for British investors and other foreign investors in Britain who want to invest their money in a more stable and higher-yield market and the UAE fits the bill.
A number of UAE property developers have tried to reach out to British home buyers and investors, by setting up offices and appointing brokers to promote Dubai’s real estate in the UK, especially in key cities of London, Manchester and other centres.
The International Real Estate and Investment Show, IREIS, is also set to bring the biggest international names in the real estate and investment industry to London with IREIS 2018 – UK Edition. To be held at one of the prime locations of London City “The Queen Elizabeth II Centre”, Westminister from 22nd-23rd June, 2018, the show serves as a one-stop shop for UK investors who are seeking for the perfect investment opportunities in the UAE.
Organised by DOME Exhibitions, the IREIS 2018 – UK Edition will host a spectrum of property developers, investment and real estate brokerage companies which will showcase the latest offers across the seven emirates and around the world.
“UAE thrives with its low tax environment, world-class infrastructure and 100 percent ownership prospects for foreign investors in selected zones, the UAE has rapidly risen as one of the most sought-after choice among foreign investors,” Antoine Georges, Managing Director of DOME Exhibitions, said.
“With the upcoming Expo 2020 Dubai ahead, the country is expected to possess such key drivers that will uphold a healthy outlook for the real estate market, further cementing its position as the top tourism and business hub in the world. Several government initiatives had also been launched to fast-track investors’ transactions within the country, with the Dubai Land Department reducing transaction period to 10 days.
“The UAE holds exactly what British investors look for in each venture: high quality real estate with a promising return on investment. This opportunity, combined with a prosperous economic growth and stability are vital drivers to the UAE’s increasing investors’ base.”