February 13, 2013 1:29 PM

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Indians top list of overseas buyers of Dubai properties

The overseas property investors bought the maximum number of properties in Dubai and Indians topped the list. The latest figures released by the Dubai Land Department reveals that around $16 billion was invested in Dubai plots, apartments and villas last year, with $12.4 billion coming from non-nationals. The top buyers were UAE nationals. Indian buyers emerged as the top overseas property investors in Dubai, with 3,514 investors spending 2.36 billion dollars, followed by British buyers who spent 1.39 billion and Pakistanis at 1.06 billion dollars. Iranians and Russians followed next Other big spenders were Americans, Canadians, and the French who together put in 4.36 billion dollars.The Director General of the Dubai Land Department, Sultan Butti Bin Mejrin, told that the figures reflect the growing recovery in the real estate sector with the local Government support to to stabilize the market. He said the Land Department was focused on achieving property revival and attracting new investments and claimed that foreign investor confidence in the Dubai property sector was unlimited. After the recession, the Dubai Property Sector was seeing an overwhelming response from investors, which reflects its ability to recover from the global financial crisis and the vitality and resilience of its economy.

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