Landmark Properties says emirate is back on the agenda for many overseas investors
Overseas investors are looking to invest in Dubai’s residential and industrial property sector once again, according to Landmark Properties.
Michael Michael, Director of Sales at Landmark Properties, said: “From the end of last year onwards, we have seen a definite increase in interest from overseas clients. Such investors are mainly from countries within the GCC or Eastern Europe, indicating a growing sentiment that Dubai’s property market is now offering investors greater value for money”.
He added that also instilling confidence in Dubai’s economic status is the survey recently released by The Foreign Investment Office of Dubai Economic Department stating that more than 80 per cent of investors are planning to maintain or increase their investment in Dubai.
Saeed Hashmi, Head of Valuation and Advisory at Landmark Advisory, said: “Although the market is still relatively immature in terms of large institutional overseas investors, Dubai now seems to be back on the agenda for many parties.”
He added the type of property overseas clients are looking for varies, with many wanting to invest heavily across various property sectors.
“In comparison to mature western markets, investment property in Dubai attracts much higher equivalent yields, i.e. a nine per cent plus for prime property, albeit under differing terms, suggesting that the significant yield margin and long term growth prospect in certain sectors is re-attracting healthy investment appeal.”
Landmark Advisory predicts that industrial property will be favoured among such clients – due to the amount of quality stock in Dubai, coupled with the dynamics of the Emirate’s economy and strong history within trade and industry segments.