Dubai Property Show heads to China
Following the success of the Dubai Property Show held in Mumbai, India, the event is now setting its sights on China.
With Chinese buyers having invested more than AED10billion in Dubai in the last four years, including AED1.74billion in 2016, the Dubai Property Show will be held in Shanghai from 24-26 March 2017.
The sixth edition of the show, organised by Dubai Land Department and Sumansa Exhibitions, takes place at the Shanghai World Expo Exhibition & Convention Center.
Sultan Al Suwaidi, partner of Sumansa Exhibitions LLC, said: “We have seen rising interest from the Chinese investors and there cannot be a more opportune time than this to promote Dubai’s attractive real estate proposition to them.
“We have always worked on bridging the gap by bringing the exhibitors and buyers face to face through our specialised property shows.
“Chinese investors are attracted towards earning higher rental yields on properties and tapping the huge margin for capital appreciation in Dubai. The investors range from wealthy individuals and private equity funds buying residential units to companies and funds setting up local joint ventures to invest in property projects.”
Dubai’s Chinese population grew by more than half (53 per cent) last year – to 253,000 and they are among the top 10 foreign property buyers there. There are also around 4,000 Chinese businesses in Dubai.
Tourism from China to Dubai is also growing rapidly. In 2015, Dubai welcomed 450,000 Chinese tourists, up 29% year-on-year and 13 Chinese cities – including Shanghai, Beijing, Guangzhou and Shenzhen, as well as Hong Kong and Taipei – are connected to Dubai by more than 100 weekly flights.
The visa on arrival scheme granted in 2016 for Chinese visitors is also helping to boost their property transactions.
HE Majida Ali Rashid, assistant director general, Head of Investment Management and Promotion Center, the investment arm of Dubai Land Department, said: “Due to the high demand from Chinese investors in Dubai’s real estate, we are taking the successful Dubai Property Show to Shanghai.
“Dubai has become a leading regional, commercial, financial and tourist hub with a state-of-the-art infrastructure and a world class business environment, above all it provides investors with a unique and comprehensive value-added platform.
“Our participation in Dubai Property Show will always contribute to the promotion of the emirate as one of the best investment destinations in the world.”
Many wealthy Chinese have been buying properties overseas to diversify their investment portfolio and find Dubai attractive partly because they believe they can achieve returns of as much as 30 per cent annually – beating Hong Kong, Shanghai and Beijing – according to Sumansa Exhibitions.
Masood Al Awar, chief commercial officer, Dubai Properties (DP), the Platinum Sponsor Dubai Property Show said: “Dubai is the top performing investment location for real estate and, over the years, Chinese investors continue to be attracted by the higher rental yields and the huge margin for capital appreciation.
“Our participation at the Dubai Property Show China highlights our role in leading the development drive across Dubai with a broad choice for end-users and investors in residential and commercial real estate, across the full spectrum of the market – from luxury high-end products to more affordable offerings.”