Saudi Arabia still key investor in Dubai real estate market

CAIRO – 13 September 2017: Saudi investors continue to show faith in Dubai’s real estate due to the promising long-term benefits of the emirate, according to real estate developer Okbah Abdulkarim to ARTAR COO, who announced on Wednesday at Cityscape Global.

Abdulkarim stated that Dubai is a safe haven for real estate investors as it continues to drive the country’s economy and developments upward especially to Saudi investors, according to a released statement by ARTAR.

Saudi Arabia has been one of the major GCC investors in Dubai’s real estate market where they pumped a total of 5,366 transactions at a total cost of AED 12.5 billion ($3.4 billion) during 18 months running from January 2016 to June 2017.

“Many Saudis still see Dubai as a desirable city to visit because it’s close by, there are shared religious and cultural values and a superb lifestyle here,” said Abdulkarim in the statement.

He also added that Mada Residences project that is being developed by Artar has managed to attract several Saudi investors. The emirate is a promising investment hub because it’s immune from negative economic effects and provides long term financial security.

Mada Residences is located nearby Dubai Mall and is in proximity to Dubai Opera, dining, entertainment, retail, leisure, and cultural outlets.