ZāZEN Properties, a company specializing in real estate development in Dubai, has stated in a report that there is an increasingly noticeable trend in the number of Indian investors in the Middle East, especially in UAE and Saudi Arabia, Invest-Gate reports.

In 2022, Indians invested about AED 15.9 billion in the real estate sector in Dubai, according to the report. Additionally, investors from India acquired 11.9% of the 97.398 real estate transactions completed in the past year, data from the Dubai Land Department showed.

Thus, Indians were the second top foreign investors in Dubai’s real estate in 2022, after the British, who made up 21.2% of real estate purchases over the year.

Furthermore, Indians have been included in the list of the most prominent nationalities that have owned real estate in Dubai since 2015, Al-Arabiya News reported.