With the continuous promotion of China’s One Belt One Road initiative, Dubai, an important node city along the initiative, has become one of the hot locations where many Chinese invest and live, according to International Financial News, Asia Times reports.
China has been one of the top ten investors that have parked money in Dubai’s real estate market for two consecutive years.
More than 7,000 Chinese investors and buyers have completed 9,640 real estate transactions worth about 14.34 billion dirhams (US$3.9 billion) from 2002 to 2008. Based on the Dubai Land Department Data, in the 18 months to June 2017, they pumped in Dh3.14 billion from 2,177 transactions.
It has intensified the competition of the market, promoting property developers to offer preferential policies. For example, investors can get a five-year residence visa if they buy a villa in their area.
As one of Dubai’s pillar industries, investing in real estate ranges from buying residential commercial housings, villas, apartments, to private islands on the sea.