The investments of GCC citizens and GCC real estate companies in Dubai from the beginning of this year and until March 9th amounted to Dh 7.3 billion ($1.98 billion). These investments cover more than 38 million square feet of lands, according to the data published by the department for lands and properties, Al-Bayan reported.
The investments of Saudi citizens during the above mentioned period hit more
than Dh 516 million ($ 140 million). Some 50 Saudi investors bought 1.5 million square meter area by in retrun to Dh 199 million ($ 54.1 million), while 17 Saudi investors sold 4.7 million square meters area for Dh 317 million ($86.3).
The gap between the purchasing deals and sales is explained by the tendency of Saudi investors to make re-sale deals in order to gain profits from the higher prices in the re-sale round.
