Indian investors have injected over AED1.23 bn into Dubai’s real estate market in the first half of 2023, Invest-Gate reports.

A real estate consultancy “Vestian” report unveiled a significant upward trend in Indian investments in Dubai since 2020. Dubai successfully attracted approximately $1.6 bn from Indian investors between 2020 and the first half of 2023.

According to the “Republic World” report, Dubai’s tax-free environment and strategic location have positioned it as an attractive destination for Indian investors.

Moreover, the Comprehensive Partnership Agreement between the UAE and India has strengthened the symbiotic relationship between the two nations. It has also helped Indian investors leverage the opportunities presented by Dubai’s real estate market.

Furthermore, the UAE plans to further its investments in India, aiming for a value of $50 bn, making India its second-largest trading partner.

Foreign Direct Investment from the UAE to India surged more than threefold in the past fiscal year, reaching $3.35 bn from $1.03 bn between 2021 and 2022.

That said, UAE became the fourth-largest investor in India during 2022-2023 and seventh in the fiscal year 2021-2022.

Additionally, In July of the previous year, the UAE and India signed an agreement enabling trade between the two nations in their local currencies, the dirham and the rupee.

It is noteworthy that India became the first country in February 2022 to sign the UAE’s Comprehensive Economic Partnership Agreement, leading to an approximate 15% increase in bilateral trade since its enactment in May 2022.