Dubai’s hot properties attract Chinese real estate investors
Chinese investors and buyers have completed 9,640 real estate transactions worth about US$3.9 billion, says official
With the continuous promotion of China’s One Belt One Road initiative, Dubai, an important node city along the initiative, has become one of the hot locations where many Chinese invest and live, according to International Financial News.
China has been one of the top ten investors that have parked money in Dubai’s real estate market for two consecutive years.
Suhaib Shaikh, a local salesman in the industry, said about 7,013 Chinese investors and buyers have completed 9,640 real estate transactions worth about 14.34 billion dirhams (US$3.9 billion) from 2002 to 2008.
It has intensified the competition of the market, promoting property developers to offer preferential policies. For example, investors can get a five-year residence visa if they buy a villa in their area.
As one of Dubai’s pillar industries, investing in real estate ranges from buying residential commercial housings, villas, apartments, to private islands on the sea.