Indians are increasingly investing in the Middle East’s real estate market with the UAE and the Kingdom of Saudi Arabia being the preferred destinations of choice; industry analysts expect Saudi Arabia’s real estate industry to flourish as the country’s inches towards achieving Vision 2030, with expectations that the kingdom will parallel that of the UAE’s real estate market.
As per Dubai Land Department (DLD) data credits, Indians had last year pumped in AED15.9 billion ($4.32 billion) into Dubai’s real estate sector, thus accounting for the second-highest investment by any nationality.
Snapping up nearly 12% of the total 97,398 property deals inked last year, they came second after the Britishers who accounted for 21.2% of the deals, said a key real estate developer.
Indians have been among the leading nationalities to buy real estate in Dubai since 2015, and in 2023, the emirate has continued attracting this investor demographic at a strong rate,.
As it stands today, the UAE remains far and away the most appealing location for real estate investment in the GCC. Indians have long been intrigued by the prospect of investing in Dubai’s real estate market due to the high investment rental yields that come with it; the cosmopolitan city offers a gross rental yield ranging between 6-10%, and an average return of around 7.5% to provide greater appeal than that of prime locations such as New York, Hong Kong, and London.