Dubai benefiting from Canadian investment

19/10/2011 - Dubai Investment News Posted by Neil King
Dubai benefiting from Canadian investment

Canadian property investors are the latest to catch on to the opportunities that Dubai has to offer.According to a new report, despite the belief that Chinese buyers are the most prolific, it is Canadians that are taking advantage of the emirate's property market.Figures published by Dubai Land Department revealed that Canadians bought 68 plots for a total of Dh285 million in the first half of this year, Emirates 24-7 reported.In addition, 388 apartments and 20 villas were purchased for a total of Dh639.08 million over the same period.By way of comparison, Chinese investors failed to rank in the top ten with regard to apartments and plots, but placed sixth on the villa list, having paid Dh49.12 million of 25 units by June this year.Craig Plumb, head of research in the Mena region at Jones Lang LaSalle, told the newspaper: "While not yet registering in the top ten list, there has been increased interest in the Dubai market reported from investors from both China and West Africa in recent months."The number of Chinese nationals visiting Dubai has increased significantly during 2011 and this is likely to act as a pre-cursor to increased investment in the local real estate market."