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Indians emerge as top foreign property buyers in Dubai | Indians have emerged as the top foreign property buyers,
ahead of their Pakistani and British counterparts in Dubai, as foreign investors have injected more than Dh22 billion in the real estate sector in one of the largest cites in the United Arab Emirates (UAE). According to government data for the
first half of 2012, Indians, Pakistani and British buyers are dominating the real
estate market in Dubai , with Indians purchasing 2,153 properties at a value of
Dh3.75 billion, followed by Pakistanis who bought 1,814 properties valued at Dh1.713
billion. "The real estate sector performance is moving from strength to strength
over the past two years. The market has been attracting more foreign investors,
which reflects a solid national economy and its excellent growth potential," Gulf
News quoted Majida Ali Rashid, chairwoman of the Real Estate Investment Promotion
and Management Centre, as saying. Majida said that foreign investors' purchases
in freehold projects in Dubai are still dominated by Indians, who have consistently
claimed the first spot since foreign ownership regulations were implemented. She
added that British investors bought a total of 1,564 properties worth Dh2,529
billion, ranking third in terms of the number of units purchased, after the Pakistanis.
Earlier, Indian and Iranian investors were reported to be leading the way in snapping
up luxury apartments and shop spaces in the tallest man-made structure in the
world, Dubai's Burj Khalifa.
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