Among Arab real estate investors in Dubai, Lebanese lead on average value per transaction
Source: The H Holding Enterprise , Author: Posted by BI-ME staff
Posted: Fri April 3, 2015 12:57 pm

UAE. Omega Real Estate, a subsidiary of The H Holding Enterprise group and one of the fast growing real estate players in the UAE, has revealed that Lebanese top the list of pan Arab investors outside GCC, with an average of 2.63 million per transaction in real-estate sector in Dubai in 2014.

The company based its findings on a recent report released by Dubai Land Department (DLD).

The company said that part of the  AED 12 billion value of transactions for all Arab investors in Dubai market, the Lebanese had a strong share of AED 2.068 billion, involving a total of 785 transactions last year.

This makes the average transaction at AED 2.63 million for Lebanese investors. The Lebanese were followed by Iraqis (AED 2.50 million per transaction), Jordanians (AED 2.40 million per transaction) and Egyptians (AED 2.02 million per transaction), according to the same measurement for investors outside the GCC region.

Hafeez Abdullah, Chairman of ‘The H Holding Enterprise’ said: “Lebanese investors top the pan Arab investors’ universe in terms of average transactions. Many Arab nationalities are allocating bigger budgets for Dubai market, benefiting from its promising opportunities and attractive returns.”

According to Abdullah, many pan Arab investors look at the Dubai property market as a more profitable business as far as renting is concerned in the long term, due to its high renting yields compared with other markets.

With the launch of Omega Real Estate, the company has intentions to invest in the real estate sectors with approximately AED 800 million by end of 2015. “It is so realistic that we are having actual investments on the ground, and seeing others get likewise. The market still has greater potential that will keep bringing benefits for newcomers for years to come,” added Abdullah.

Abdullah said that Arab investors contributed significantly to real estate activity last year, with a total value of 5,431 transactions. “Based on the DLD statistics, Iraqi investors recorded an average of AED 2.50 million per transaction, while Jordanians averaged at AED 2.4 million per transaction and Egyptians AED 2.02 million per transaction,” he said.

The company currently operates across various investment sectors in real-estate, hotel industry, and has recently launched a facilities management arm to serve the ongoing demand in the market.

Other important nationalities, according to the same report, were Yemen, Sudan, Palestine and Morocco.

Photo Caption: Hafeez Abdullah, Chairman of ‘The H Holding Enterprise’

 

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