Sobha Realty records 60 per cent of foreign national investors residing overseas
Sobha Realty, one of the UAE’s most trusted real estate developers, has reported a steady increase in investments from foreign investors, recording nearly 60 per cent of foreign national investors residing overseas, for its projects in the UAE. Findings indicate that Indian, Russian, Chinese, and Emirati nationals constitute the top four investors in Sobha Realty, followed by Saudi, British, and Nigerian nationals.
The real estate sector in the UAE is currently witnessing a rise in demand for prime properties, from both foreign and resident investors. Moreover, Sobha Realty anticipates the market to continue its upward trajectory with more foreign investors entering the sector, driven by visa reforms, economic stability, and sustainable residences among other factors. Evolving labor laws in the UAE, as well as growing business opportunities in the region, have also contributed to the increase in foreign investments.
In the last decade, Dubai’s real estate market has become a popular choice among elite international investors. This is largely attributed to real estate investments in Dubai offering better returns in comparison to other major international cities, making it a preferred destination for global investors. Moreover, the overall performance of the first four months of 2022 in comparison to the same period in 2021 has remained strong in terms of total sales transaction volume, with 27,507 transactions compared to 16,341 transactions in the same period last year, registering a significant jump of 68.33 per cent which further substantiates the growing interest in Dubai’s real estate sector.
PNC Menon, Chairman of Sobha Group, stated: “Foreign investors help drive real estate demand and prices, resulting in improved returns on investments. Since 2021, the recorded total sales transactions in the local industry have risen and remained above the average monthly transactions, while the overall sales price index has shown constant growth since June 2020. The trends continue to indicate strong investor confidence and preference for high-quality homes. Keeping up with these developments, we have been ramping up our efforts to meet the increasing demand for luxury homes, as we remain committed to delivering quality residences according to the requirements of the market.”
As the real estate market continues to advance with increased interest from foreign investors, Sobha Realty will strive to meet shifting customer expectations with its range of quality offerings. The combination of Sobha Realty’s commitment to delivering quality and luxury projects, together with its adherence to innovation and sustainability, should further drive the UAE’s real estate market forward and encourage more foreign investment.