'New wave' of Chinese Investors Set To Return To Dubai Property Market
Chinese buyers look set to reclaim their spot on the UAE’s list of top property purchasers this year after they slipped out of the rankings during the Covid pandemic. Driven Properties, a Dubai-based company with offices in China, said investments were starting to pick up. The company handled more than Dh64 million in Dubai property sales to Chinese buyers so far this month and said this barely “scratched the surface” of transactions expected. Tour groups from China will resume from February with the UAE included in a pilot list of 20 countries. China’s Ministry of Culture and Tourism has announced that Chinese travel agencies could begin outbound tours to countries including the UAE, Sri Lanka, the Philippines, Singapore, Egypt, South Africa, Russia, New Zealand and Argentina. In 2018, the Chinese were among the top four foreign nationalities who invested in Dubai property, alongside Indians, Britons and Pakistanis, according to Dubai Land Department data. The pandemic and ...