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Pakistani investors pumped in Dh 4.4 billion worth of investment in Dubai property market alone in 2016
Abu Dhabi, United Arab Emirates, 24 March, 2017: According to the Dubai Land Department, Pakistani investors pumped in Dh 4.4 billion worth of investment in Dubai property market alone in 2016 and are among the top 3 investors.
"We have seen rising interest from the Pakistani investors and there cannot be a better time than this to promote UAE’s attractive real estate proposition to them. We have always worked on bridging the gap by bringing the exhibitors and buyers face to face through our specialised property shows," Omar Mudassor, Project Manager, DOME Exhibitions said.
“Pakistani investors are attracted towards earning higher rental yields on properties and tapping the huge margin for capital appreciation in Dubai. "The investors range from wealthy individuals and private equity funds buying residential units to companies and funds setting up local joint ventures to invest in property projects."
“Property buyers from Pakistan are increasingly securing homes and investment properties in the UAE, Canada, UK, Europe and the Gulf, buoyed by a strong currency and the lure of a resurgent economy,” said Antoine Georges, Managing Director of Dome Exhibitions, organiser of the IREIS Pavilion.
With a staggering population of 193.6 million persons and an estimated GDP per capita of AED 4,700, Pakistan nationals have been identified as one of the largest investors in the International Property Market.
Tourism from Pakistan to UAE is growing rapidly. Pakistan posted a 16 per cent jump compared to 2015 in tourist arrivals to reach around 590,000 visitors in 2016. Many wealthy Pakistan nationals have been buying properties overseas to diversify their investment portfolio and find Dubai attractive partly because they believe they can achieve returns of as much as 30 per cent annually which beats most of the other cities in Pakistan.
After the success of the International Real Estate Exhibition in Abu Dhabi last October and the good response that it garnered in other global destinations, including Pakistan, London, US, Canada and European countries, DOME Exhibitions and Jang Group, the largest media house in Pakistan with ABAD, the official Real Estate and Builders Association have collaborated to promote International real estate investment opportunities to Pakistani investors in Pakistan.
For the first time, the International Real Estate & Investment Show (IREIS) will host a pavilion at the largest real estate and construction exhibition of Pakistan ABAD-JANG Expo held in Islamabad, Pakistan from 24-26 March. The International pavilion will provide a one-stop shop for aspiring home owners and real estate investors.
The Exhibition draws the participation of more than 80 exhibitors who will engage and provide 30,000+ consumers with an in-depth look into all relevant topics focused on real estate opportunities. Being a consumer focused event (B2C), guests are presented with the unique option to invest on the spot and purchase land.
Among the participants is Sobha Group, which is one of the most preferred companies to invest with owing to the unparalleled quality along the unmatched location of its projects which is also set on the iconic Dubai Water Canal. Coupled with a diverse range of property options along with an excellent payment plan, Sobha Group is positive to engage with potential investors and end-users at the expo looking at making an investment in UAE. Dubai-based Gemini Property Developers will also be offering Pakistani investors the Gemini Splendor residential Project - the company’s first luxury residential project at Sobha Hartland in Dubai. The real estate developer has completed more than 30% construction of the Dh300 million high-end project and is scheduled for completion in the first quarter of 2018.
In addition, the IREIS pavilion offers a platform for informal networking sessions planned to showcase international property projects and facilitate partnerships between foreign property suppliers and local agents in the Pakistan real estate market.
Pakistan that permits its people dual citizenship with 16 countries including Australia, Belgium, Canada and France will find exclusive dual citizenship opportunities at the IREIS stand. Those who are especially keen on learning the benefits of visa-free travel, diverse second citizenship and residency possibilities will largely find the stand to be very helpful. Exhibitors such as Herald Land will offer investors a chance to attain UK Citizenship by Investment, by which a high net worth individual can obtain dual citizenship in a country of their choosing for themselves, their spouse and dependent children by investing funds into that country.
“From our experience with buyers and builders we discovered that the whole process of building and buying properties was not only extensive but also a stressful experience. If we put everyone in one place, it would make the whole process more streamlined, said Mr.Georges.”