UAE – Mubasher: FIDU Properties, a Dubai-based real estate brokerage, projected that Chinese investments in the UAE’s real estate sector would grow by 70% in 2019, Al Bayan newspaper reported.

Chinese investors are one of the top four nationalities investing in Dubai, FIDU Properties said.

In the first nine months of 2018, Chinese nationals have invested AED 1.7 billion into Dubai, according to Dubai Land Department (DLD).

FIDU Properties is optimistic about the procedures taken by the local authorities, including DLD, to attract Chinese investments to the real estate market in the emirate.

In the same vein, DLD has unveiled plans to attract around AED 1 billion Chinese investments in the real estate market this year.

In an attempt to boost Chinese investments in the country, DLD has opened two representative offices in China in the last two years and is planning to open a third office there.

It is worth noting that the number of Chinese arrivals in Dubai rose by 53% in the past five years, with almost 230,000 people currently living in the emirate and around 4,000 Chinese firms operating there.