Tag Archives: Capital flight

Pakistanis buy Dubai property worth $379m in three months

BY AAMIR SHAFAAT KHAN

KARACHI: Pakistanis remained in pursuit of real estate in Dubai in the first quarter of 2015 as third biggest amount of foreign property transactions $379 million came from Pakistani nationals.

Pakistanis purchased properties worth over $4.3 billion (16bn dirhams) in 2013 and 2014 in Dubai.

Read: Pakistanis bought property worth 16bn dirhams in Dubai

According to data released by Dubai Land Department in April 2015, Pakistani nationals made transactions worth $379m (1.392 billion dirhams) during the first quarter of 2015.

In terms of investor numbers, however, Pakistanis stood second with a total of 953 investors, only behind Indians with over 1,000 investors.

Also read: Capital flight to Gulf states worries govt

Pakistanis also make up the second largest non-Arab nationality in the UAE.

Read more » DAWN
Learn more » http://www.dawn.com/news/1183845