Dubai: Dubai is among the world’s top cities for foreign investments in real estate, according to a new update from the consultancy JLL. This has gone hand-in-hand with improvements made in making real estate specific regulations more transparent. The scale of the inward investments has not been provided.
Dubai and Abu Dhabi are classified as “hybrid cities” in JLL’s latest rankings, released Sunday. Hybrid cities are defined as mid-sized “compete in specialised markets, which benefit from access to large domestic markets,” a JLL statement notes. “They are durable over the medium term and are among top real estate investment destinations. Such cities have a superior liveability equation compared to their national and regional peers.”
In the second-half of 2017, regional and international investment flows into Dubai realty had spiked quite noticeably. Their presence was most notable in the luxury real estate space, but transactions were also happening in the commercial space.
The two emirates “share characteristics, aspirations and priorities in terms of the specialisms that they nurture, the talent and businesses that they attract, and the style and quantity of real estate required,” Craig Plumb, Head of Research, JLL Mena, said in a statement.