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Nigerian Investors Account For 60% Dubai Apartment Sales

The steady shift from the development of residential to hotel apartments in Dubai, riding on the back of the huge tourist and business traffic, is also seeing a significant paradigm shift in the investment portfolio of Nigerian property investors  who today account for 60 percent of hotel apartment purchases in the increasing Dubai hospitality market.

Investing in hotel apartments in Dubai is increasingly  becoming a new investment lifestyle, particularly  for Nigerians and Arabs, and this is driven by the United Arab Emirate’s (UAE’s) duty free environment and increasing  demand for hotel rooms and apartments in the city touted as the cynosure of the  Arab world.

Abdulraham Kadiri, the CEO of Ark Gold Properties, a Dubai-based property vendor, attributed the attraction to this market to the country’s land policy, which allows non-citizens to own properties without much encumbrances from native laws.

He explained that the market was mature and offering levels of return on investment hard to come by in other markets, adding that property transfer processes in Dubai are done in less than 72 hours.

SOURCE

 

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