Indian investors invested US$ 335 million in Dubai's market in H1 2023: Report

Between 2020 and H1 2023, Dubai experienced noteworthy Foreign Direct Investments (FDI) from Indian investors, amounting to US$ 1.6 billion, as international property consultant Vestian reported. Dubai's strategic geographical positioning and its tax-friendly policies serve as a pivotal incentive for Indian investors and business proprietors seeking expansion into new markets.

Investments (FDI) from India in Dubai nearly doubled from 2020 to 2022, reaching US$ 541.0 million in the latter year. The initial six months of 2023 accounted for 62% of the total investments (FDI) made in the preceding year. Indian investors significantly contributed to Dubai's residential market, surpassing US$ 4 billion in purchases during 2022. With the abatement of COVID-19, Indian investors consistently escalated their financial commitments in Dubai, depicting a discernible upward trend since 2020. The investment volume nearly doubled from 2020 to 2022, indicating a positive momentum that is anticipated to persist, aligning with Dubai's economic agenda outlined in D33.

During H1 2023, India emerged as one of the leading countries investing in Dubai, contributing a cumulative investment of US$ 335.0 million. Regarding project investments, India surpassed Canada and Latvia with investments in 123 projects, according to international property consultant Vestian, referencing data from the Dubai Land Department. As part of the UAE's objective to double Dubai's GDP by 2033 and position itself as a global economic hub, Indian investors are capitalising on opportunities within the Emirate's dynamic real estate market and investor-friendly policies. Dubai has emerged as a preferred investment destination for Indian individuals and businesses, providing an advantageous alternative to substantial tax obligations in their home country.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.