- 20 real estate developers showcase their projects at the Dubai pavilion to Chinese investors
- More than 6,000 Chinese investors invested AED 16 billion since their entry to Dubai’s real estate market
Dubai Land Department (DLD) organised LPS Shanghai, at the Shanghai Convention Centre, China. DLD was accompanied by a delegation of senior real estate developers in Dubai as strategic partners of the show.
The Dubai pavilion was inaugurated at LPS Shanghai in the presence of HE Rashid Matar Al Siri Al Qemzi, UAE Consul-General in Shanghai; HE Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD; and a number of senior developers from the UAE and the GCC. A meeting was held to gather participating developers in LPS Shanghai to strengthen relations between DLD and its strategic partners, enhancing Dubai’s global reputation and position, and honouring their outstanding contributions to providing a bright picture of Dubai’s real estate market.
As part of the efforts of DLD’s real estate promotion trustees, a memorandum of understanding (MoU) was signed between UC Forward and Century 21 to promote Dubai’s real estate among Chinese investors in Shanghai. LPS Shanghai attracted around 15 thousand VIPs interested in luxury real estate, products, and services that were provided by 200 exhibitors from 35 countries.
HE Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, commented: “In line with Dubai Plan 2021 to make the Emirate the preferred place to live, work, and visit, Chinese investors have the opportunity to invest in the most important real estate hub in the world, especially as Dubai provides a range of options for investors, ranging from studio apartments to luxury properties designed to meet the needs of a wide range of investors. The Dubai Government is working to provide facilities and incentive initiatives for the benefit of investors.”
Rashid added: “DLD provided a distinguished pavilion to promote Dubai’s luxury properties through real estate developers, especially as Chinese investors rank high on the list of top nationalities investing in Dubai’s real estate market where they ranked sixth according to a recent report issued by DLD. Since 2006, Dubai attracted around 6,000 Chinese real estate investors in Dubai, who now own 10,844 properties valued at nearly AED 16 billion. 937 Chinese investors entered the market with 1,124 transactions worth over AED 1.65 billion between January and September 2018.”
Rashid stressed that DLD developed many smart applications to serve investors, saving them time and effort, and reinforcing Dubai’s global position as the preferred destination for living, working, and investing. These applications include the Smart Investment Map application that attracts key investors for available projects, enabling investors to access investment projects through their smart devices; the Dubai Brokers application, which provides accurate information on licensed and accredited brokerage offices; and Mashrooi application, which was designed for real estate developers and investors by providing information about developers and escrow accounts.
Rashid added: “Last July, the UAE-China Week was held to celebrate the cultures of the two countries, resulting in recent changes such as granting Chinese citizens visas upon arrival in Dubai and providing direct flights to 13 Chinese cities, increasing the attractiveness of the UAE and Dubai to investors.”
There are several factors that encourage Chinese investors to invest in Dubai’s real estate market, including its strategic location as a link between the Middle East, Asia, and Europe, and the fact that it is one of the safest cities in the world and the best in the MENA region. Dubai also provides its residents and visitors with world-class infrastructure, making it the focus of foreign investors. Additionally, the UAE, specifically Dubai, ranked first in the ease of doing business, opening its doors to several international and regional companies by providing easy transactions including property registration and others.
DLD organised several events in China, including seminars and conferences attended by delegations representing exhibitors from 42 countries around the world. Several local companies recorded a significant presence at this global event, including Meraas, Dubai Properties, DAMAC, Falconcity of Wonders, Meydan, Sobha Realty, Rukan, RICHLAND, Danube Properties, Al Habtoor City, Fidu Properties, AlDar, Fam Holding, Jumeirah Luxury, Global 99, Hamptons International, ELLINGTON Properties, and Al Barari.Email This Post