A top broker in Dubai has said that half the sales at the start of the year will come from the foreign investors, the majority of which they identified as Chinese. Arabian Business reported that fäm Properties CEO Firas Al Msaddi had a goal in mind for 2019. This came right after the Dubai Land Department (DLD) recognized the company for their sales in 2018, which totaled AED1.33 billion.
Al Msaddi further said that the goals for the year are to hit the 'higher targets' the company has set. An early forecast revealed that half of the sales are expected to come from the Chinese-whose middle-class population has been investing in overseas property markets. The real estate company further suggested that a 'strategic partnership' has been put in place to help realize these goals.
The CEO continued with his comments, saying that there existed the potential for the Chinese market to invest in Dubai property. The company will be focusing on providing a strategic approach, which would give the company a greater presence in Dubai and, in turn, would help them tap deeper into the Dubai property market.
Dubai isn't the only property market receiving attention now, it seems. Property Report suggested that the Southeast Asian market is also a top performer among the Asian region's property hotspots. Countries like Thailand and Vietnam had continued to perform surprisingly well, despite the current decline that the global property market is suffering from, which includes China.
Thailand is a popular destination for Chinese investors, jumping up three places to rank third on a list of top destinations, as collected by property website Juwai. The US and Australia are the only countries ahead of Thailand.
Vietnam was a pleasant surprise, making the list as a preferred destination of Chinese investors. The inquiries that came in from the Chinese grew by as much as 442 percent during a period between January and May 2017. It was a surprise, mostly because Vietnam is locked in its own territorial dispute with China.
Dubai, which has no existing disputes with the country, is looking to make the most out of the attention it's getting from Chinese investors. So far, real estate companies such as Emaar Properties have started to make their presence felt in the mainland by putting up business development operations. For Dubai, it's a two-way street to make themselves China's preferred investment partner.
