Chinese investors channel over US$36 million into Dubai real estate market in first three quarters of 2008

Dubai, Dec 1, 2008 (WAM) - Chinese investors have channelled over US$36 million (Dh132 million) into the real estate sector in Dubai in the first three quarters of 2008, according to REIDIN.com.

With the aim of highlighting the emergence of Chinese and other Asian investors, REIDIN.com has recently hosted a high-profile 'Investment Seminar' as a part of its participation at MIPIM Asia, the world's premier real estate summit. Charlie Nixon, Regional Manager Asia, REIDIN.com delivered a keynote presentation focusing on the proprietary business news, analysis, research, data and intelligence offered by the company at MIPIM Asia, which was held at the Hong Kong Convention and Exhibition Centre in Hong Kong from November 19 - 21, 2008.

According to official statistics from DUBAIFocus, a joint initiative between REIDIN.com and the Dubai Land Department, the first exclusive online information product tracking real estate deals and transactions in Dubai, Chinese investors currently comprise the fifth biggest segment of Asian investors in Dubai. Other Asian Investors with significant interests in the Dubai's real estate sector include those from Pakistan who invested more than US$1.6 billion (Dh6.09 billion), Afghanistan - more than US$475 million (Dh1.7 billion) and Singapore - more than US$41 million (Dh150 million) during the first three quarters of 2008.