Dubai Properties projects draw interest from Chinese investors

Dubai / WAM

Dubai Properties, a member of Dubai Holding, is drawing high interest for its upscale projects from investors and potential buyers in China as part of its participation at Luxury Property Showcase (LPS) Beijing 2018, the leading luxury property show that is currently underway in the Republic’s capital city.
Dubai Properties, a member of Dubai Holding, is drawing high interest for its upscale projects from investors and potential buyers in China as part of its participation at Luxury Property Showcase (LPS) Beijing 2018, the leading luxury property show that is currently underway in the Republic’s capital city.
A key highlight of Dubai Properties’ outing at the exclusive event is its showcase of 1/JBR, the flagship project taking shape on one of the final plots of land in the sought-after Jumeirah Beach Residence district. In addition, Dubai Properties is highlighting its two residential projects in Business Bay – Marasi Riverside, a waterfront tower, and Bellevue Towers, a two-tower development.
Dubai Properties is also showcasing its acclaimed communities such as Mudon, the family-friendly community located in Dubailand, featuring townhouses and apartments, as well as three phases of the Mediterranean inspired Serena community and the highly-successful Villanova project to interested high net-worth investors and trade visitors at the Beijing event.
LPS Beijing 2018 has converged over 6,000 visitors with its offering of 140 exhibitors from 35 countries, and a selection of luxury properties located across China, the Americas, Europe and Asia-Pacific. The 17th edition that concludes on June 24 is an invitation-only event customised for the Chinese market.
Speaking on the occasion, Marwan Al Kindi, Director of Sales and Sales Operations at Dubai Properties said, “Our participation at China’s leading luxury property show, LPS Beijing, reflects our commitment to engaging with customers at a time when interest from the Chinese market is at an all-time high. Over the past two years Chinese buyers have consistently ranked amongst Dubai Properties’ top ten buyer nationalities in terms of value, however as recently as April they were in the top five, so there is a clear trend for us to capitalize on. Our presence will allow us to further tap into this key market that currently represents three percent of Dubai’s real estate transactions.”
He added, “We also believe the recent landmark decision by the UAE Cabinet to issue a 10-year visa to investors and allow for 100 per cent foreign ownership of companies will further boost Dubai’s profile as a global safe haven for investors.”
As per projections released by the Dubai Land Department, Dubai’s real estate market witnessed more than 30,000 transactions worth approximately AED56 billion from close to 23,000 global investors in 2017.
Chinese investments currently rank sixth-highest for inbound property investment having been eighth-highest as recently as May last year, according to Knight Frank’s Prime International Residential Index. Recent policy changes such as granting Chinese nationals visa on arrival in Dubai, as well as the connectivity permitted by direct flights to 13 Chinese cities have increased the emirate’s attractiveness to investors from the country.