At 30,000 crore, Indians, the biggest foreign investors in real estate sector of Dubai

Indians were the biggest foreign investors in real estate sector of Dubai last year, having invested more than Rs 30,042 crore. The amount is almost equal to the annual budget of Bombay Municipal Corporation, which is around Rs 31,000 crore and comes close to Rs 35,000-crore plus annual budget of the national capital.

On the contrary, the total investment of United Arab Emirates in India in last 14 years is less than half of what Indians invest in real estate of Dubai every year.

The Dubai land department released the figures last week, stating that Indians were the highest value foreign investors, making 7,353 transactions of 18.123 billion AED (Arab Emirates Dirham) worth of property deals. The investment also exceeds annual budgets of many small states of India, including Goa, Sikkim and Meghalaya.

Read full story: At 30,000 crore, Indians, the biggest foreign investors in real estate sector of Dubai