Jordanians third largest Arab buyer in Dubai property market

AMMAN – Jordanians were among the top investors in Dubai's real estate market in 2015, according to official data released recently by the emirate. 

Dubai Land Department (DLD) said that 1,516 Jordanians bought properties worth over 3.51 billion dirhams –– around JD677 million or $955 million --–– last year, ranking third among Arab investors after Saudis and Kuwaitis, who invested around 9.56 billion dirhams ($2.6 billion) and 3.56 dirhams ($971 million) respectively. 

Jordanians were followed by Qataris with investments worth 2.7 billion dirhams ($761 million) and investors from Egypt who bought properties valued at 2.55 billion dirhams ($695 million), the DLD report showed. 

The land department said that nearly 56,000 investors from various Arab and foreign nationalities invested over 135 billion dirhams (around $36.7 billion) in Dubai's property market last year. 

Properties bought by Arabs in Dubai reached around $16.3 billion, while investments of non-Arabs were around $20 billion. 

Among non-Arabs, Indians came first, followed by British nationals and Pakistanis, the DLD report indicated. 

In remarks to The Jordan Times in November last year, Jordan Housing Developers Association President Fawaz Al Hassan said Jordanians’ real estate investments outside the Kingdom were estimated at more than $5 billion.

He said that Jordanian investors have large investments in regional countries such as the UAE, Morocco, Egypt and Turkey, attributing the rising investments outside the Kingdom to incentives Jordanians receive in these markets. 

Hassan has also said that dozens of housing companies have opened businesses in regional markets.