Dubai’s real estate is considered among the most valued around the world and the Dubai Land Department has done a great job over the years to promote the Emirate’s real estate market effectively. Dubai has a lot of off plan investment opportunities, especially in Dubai Hills estate. In the recent efforts, the DLD plans to promote the investment opportunities in Dubai to the prospects in China, and they are aiming at attracting a minimum of Dh 1 billion investment in 2019. Now, that’s something to talk about and that certainly shows the potential of Dubai’s real estate market where more owner-occupiers are investing in luxury villas and townhouses than ever.

A Sneak Peek Into The Efforts Of DLD For Grabbing Chinese Investment

The Dubai Land Department already has a strong footing in China where their offices are operating in Shanghai and Beijing. However, the officials believe that it’s time to expand further and become more visible in China in 2019 after securing a reasonable investment volume with the past efforts.

The real estate market in Dubai recorded transactions worth Dh 162bn during first 9 months last year where Chinese investors accounted for around Dh 1.7bn from that total. Furthermore, the investors from China were among the top 4 nationalities to have invested in the Emirate alongside Britons, Indians and Pakistanis.

The offices of the Dubai Land Department were set up in China in the past couple of years and now it aims at opening another one in Shenzhen, the Southern city known for its industry. Besides, there are plans to open up to other regions in China as well targeting all major areas in the country to grab potential real estate investment.

A cooperation agreement was also signed between the DLD and foreign trade office in Guangzhou last June with the intention of paving way for the fresh real estate promotion activities there.

Impact Of The Current Economic Slowdown In China

Well, according to the officials, the economic slowdown China is currently experiencing won’t really have a negative impact on their investment in the UAE’s property market. The reason they present is that the country has already devised a solution for curtailing any such impact on the consumers’ buying power.

The GDP growth of China in 2018’s last quarter remained the slowest since 1990 and that has followed a rapid growth period. Responding to the headwind and slowdown caused by ongoing disputes with the US on trade front, the Chinese government came up with fiscal and monetary stimulus packages letting its currency to weaken.

What’s encouraging is that ever since the Chinese Investment & Promotion unit was set up by DLD at the end of 2017, they have received around 800 enquiries related to real estate from the Chinese nationals. In fact, the major Chinese developers like the BTL Hospitality and Sanxiang Group have expressed their intent for making investments in Dubai somewhere around 2020.

They are working to provide support to the UAE-based developers as well who plan to expand their investments to China. As a result, there were eleven roadshows to China last year on behalf of the major developers like Bloom Holding from Abu Dhabi, Emaar Properties from Dubai, Deyaar Development, etc.

So, despite all the market dynamics and average values of real estate failing in UAE, some solid transaction volumes have been recorded by the market and things are surely expected to get better in future with more Chinese investment coming up. With better promotion, and increased interest of the investors from around the world, the real estate market in Dubai is surely going to boom in years to come.