UAE: FDI in real estate on upwards trend

Foreign Direct Investment (FDI) in United Arab Emirates’ real estate industry has soared by 25 per cent reaching a record $6.54 billion last year.

The increase in the sector has also caused increase of total FDI, which hit the $25.86 billion thresh-hold.

The lucrative construction sector has therefore increased its contribution to gross domestic product (GDP) by 3.3 per cent. The sector has recorded an 8.1 per cent growth, with total figure of $72.48 billion, online media arabianbusiness.com reports citing Statistics Centre – Abu Dhabi (SCAD).

The Emirati government has embarked on luring construction projects with the aim of attracting more foreign investment. Projects in housing, entertainment have mushroomed across the country but mainly on Yas, Reem and Saadiyat Islands.

Foreign corporates have been pumping money into hotel, housing and entertainment projects on the Islands, the SCAD notes.

Yas Island has been presented with $3.27bn master plan. The Island will also see another development plan with projects in many sectors including hospitality and mid-market residential. The plan represented by Aldar Properties, will cost $518 million.

Short URL: http://me-confidential.com/?p=15863

Posted by on May 15 2017. Filed under Finance, Gulf News, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

Recently Commented

  • Badia Ouadi: What about the 20/20 vision for tourism which HRH has endorsed Himself? There are hundreds of western...
  • Achraf: Wise words from a wise king. And dont forget to work hand in hand. Stability Will be à important factor
  • Mehmet: Erdogan and the Turkish government become more pathetic and miserable and unrealistic day by day.
  • Telh: Israel should take a leaf out of their book.
  • Gemma: Well on this task Jordan gets a big fat F! We need to find a more competent custodian before Al Aqsa is lost...