Saudis spent AED 5 bln on Dubai property through Sept

Investors from Saudi Arabia spent AED 5 billion on property in Dubai in the first nine months of the year, topping the list of all Arab buyers, according to data from the Dubai land department.

Meanwhile, Indians topped the list of all foreign property investors in Dubai followed by British, Saudi and Pakistani nationals.

As many as 30,000 investors from 155 countries spent AED 81 billion on real estate in Dubai through September.

Investors from the United Arab Emirates came on top of the list, spending AED 16 billion, followed by investors from India who spent AED 13 billion.

Investors from non-GCC Arab countries included those from Lebanon, Jordan, Egypt, Iraq, Yemen, Sudan, Palestine, Libya and Algeria.

Other foreign investors came from Canada, Russia, China and the United States, France and Afghanistan.

Total real estate transactions in Dubai reached AED 186.3 billion in the first nine months of the year, 42 percent of which were sales, according to Argaam.