Sobha Realty, a leading premium real estate developer in UAE, has revealed that foreign buyers accounted for  71% of all sales, indicating the growing demand for its properties by overseas investors. 

 

The developer stated that the top investors in 2022 were Russians, Indians and Emiratis, followed by Romanian, British, Chinese, Kazakhstani, Ukrainian, French, and Saudi.

 

According to Sobha, there has been a rising demand for opulent, high-end properties from these investors. 

 

The real estate market is projected to continue expanding in the coming years, with more expatriates and overseas investors flocking as well as several upscale structures and projects in progress in the country, it stated. 

 

Founder and Chairman PNC Menon said: "The global real estate market was impacted by macroeconomic volatility; however, the UAE witnessed a strong growth in the final quarter of 2022, pointing to a positive future for 2023."

 

With an ambitious goal of doubling the size of its economy in the next decade and consolidating its position among the top three global cities, Dubai has attracted vast foreign investments and experienced strong growth in the real estate market in 2022, he noted. 

 

Sobha Realty, he stated, was expected to further draw in more foreign investments into the country with its commitment to creating luxurious, high-quality developments that integrate both innovation and sustainability.

 

"Strong sales were recorded for a range of properties - from studio apartments to opulent seafront villas. Consequently, we expect the same pattern to continue in 2023, " explained Menon.

 

"We, at Sobha Realty, aim to support the continued growth of Dubai, while also strengthening our standing as a trusted developer in the market," he added.-TradeArabia News Service