Dubai property investments appeal to Pakistanis

20/08/2012 - Dubai Property News Posted by Neil King
Dubai property investments appeal to Pakistanis

The UAE has long been an appealing investment hub to people all around the world, but it seems the emirate is particularly popular in Pakistan.Data recently released by the Dubai Land Department showed that Pakistanis purchased 1,814 properties in the first half of 2012, which was a 37 per cent improvement on the corresponding six-month period in 2011, Emirates 24/7 reports.Overall, investors from the Asian country spent AED 1.71 billion (£296 million) on new real estate assets in Dubai - a sharp increase of 33 per cent on the first half of last year.There are plenty of reasons for this spike in demand - but the main lure is the economic and political stability in the UAE.Investors have to be extremely careful when looking for suitable additions to their portfolios in the Middle East and North Africa, as there is currently a lot of political tension in certain regions.This is definitely not the case in the UAE, though, which explains a great deal about why the country is so popular.The Dubai Chamber of Commerce and Industry recently revealed that exports and re-exports from the emirate were up once again in July - highlighting the strength of its economy.With Pakistan enduing an ongoing political crisis, it is hardly surprising to see so many of the nation's citizens investing huge sums of money into the safe haven that is Dubai.Usman Ali - a senior manager in a Dubai-based financial institution - is just one Pakistani citizen who is looking for property in Dubai.He told the news provider that one thing he finds particularly attractive is the high rental rates seen across the city, as apartment owners are finding it easy to find tenants."I have been living in the UAE for 12 years now and I don't have any immediate plans to return [to Pakistan]," he was quoted as saying."I stayed in Sharjah for ten years as I couldn't afford to lease in Dubai. I see the rents spiralling again and hence, I have decided to buy a property here in Dubai," Mr Ali added.