2023.. the year the Chinese investor restored the real estate market

Ismail Al Hammadi

January 31, 2023

In 2018, Chinese investors ranked fourth in terms of the number of nationalities most investing in Dubai's real estate sector, along with investors from India, the United Kingdom and Pakistan.

During the last three years, the sector recorded a sharp decline in the number of investors from China, including last year when the sector witnessed the peak of its activity, in the absence of almost complete Chinese investors, due to the strict restrictions imposed by China on its citizens to contain the spread of “Covid-19”. ».

With China announcing the lifting of restrictions, the opening of its airports, and the restoration of travel and air traffic, we expect Chinese investors to regain their position in the Dubai real estate sector during the current year, in addition to the tourism sector in Dubai restoring the number of tourists from China who recorded an absence during recent periods.

Since entering the Dubai real estate market in 1996, the Chinese investor has been and still is one of the pillars of direct investment in Dubai real estate. A big change from 2020 to now.

The time has come to reactivate the representative offices previously opened by the Land and Property Department in China, to enhance its spread in various Chinese cities, and to revive the various promotional activities it was leading to target investors in China, through the promotion of Dubai investment projects and environment, as was the case in 2018, where The department led more than 11 promotions for real estate developers in Dubai, China.

I think that the matter will have a great resonance, and results that exceed expectations in light of the reality recorded by the real estate sector in China during the current periods, compared to what the real estate sector records in Dubai, as several international statistics indicate a decline in real estate performance in China, as a result of the high interest rates on mortgages. Real estate, in addition to the high real estate prices in China compared to Dubai, where the buyer can own a real estate space in Dubai that exceeds three times the area in Shanghai, at a value of one million dollars.

During the past year and the current year 2023, investors of various nationalities play a major role in making the real estate scene in Dubai, and this scene must be strengthened by the return of Chinese investors to the market again.

Let's imagine a little if the real estate sector was boosted in 2022 by Chinese investors along with other investors, so how would the annual real estate performance become?

What was not achieved during the past year, must be achieved during the current year, so efforts must be intensified to achieve this, and to maintain the continuity of real estate activity in 2023 as an extension of 2022.

@ismailalhammadi

Ismail.alhammadi@alruwad.ae

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