Chinese to Spend Over $15B in Dubai Over Next Few Years
Foreign investors are picking up their activities in Dubai as investor activity jumped by 300% over last year. Chinese investors are expected to spend over $15B in Dubai real estate in the coming years, Hu Jinghui, VP of Chinese broker 5i5j Hu Jinghui, said in a release. "There is a big desire for top-quality property in Dubai from savvy Chinese buyers," he says. To cash in on this trend, Dubai developers are hosting seminars, hoping to attract wealthy foreign buyers. Luxury real estate developer DAMAC Properties—the same company that launched mansions and villas in the Dubai Trump estate—will be showcasing their high-end living experiences to the Chinese buyers during the seminars. Thousands of international investors are slated to attend, the release said.
