Dubai has become a major investment opportunity in the Real Estate business. About 78% of the total overseas investment makes up the property market, while the remaining constitutes 22% which belongs to the locals. According to the statistics, Pakistanis have an 8% share in the investment market of Dubai, while India has a 12% share in the investment market of Dubai. Iranians, Russians and Chinese share about 5% of the market.
The statistics were revealed by the Head of Research at Jones Lang Lasalle IP. INC, Mr Craig Plumb. The analysts also stated that the Dubai market was stabilizing. The average prices and rentals in the residential sector appear to have stabilized over the recent months with some locations registering marginal decline. The expansion of the Dubai economy means that the demand for affordable housing will suffer a boost.
Dubai is cheap in comparison to the properties in European and Arab countries. Sobha groups spotted the interest of Pakistani investors and residents in the Dubai market and thus decided to open its office in Pakistan. It has carried out its print media campaign of Sobha properties in Pakistan in the last two months. The response was really good and Pakistanis are still responding with feedback and inquiries.