Indian investors show strong interest in Dubai market, investing $335 million in first half of 2023: report.

Indian foreign direct investment (FDI) in Dubai rose to $335 million in the first half of 2023, a significant increase from the $221 million recorded at the same time in 2022, according to a report by Vestian.

Dubai's strategic location and tax-friendly policies continue to attract Indian investors, resulting in a significant total foreign direct investment of $1.6 billion from 2020 to the first half of 2023. This positive trend, confirmed by the doubling of Indian investment from $541 million in 2020 to $1.6 billion in the first half of 2023, is in line with Dubai's economic program outlined in the D33 plan.

The fact that the first half of 2023 alone accounted for 62 percent of the total FDI in the previous year requires special mention. The residential real estate market in Dubai had significant contributions from Indian investors, which exceeded $4 billion over 2022.

India has emerged as one of the leading contributors to Dubai's growth, investing $335 million in the first half of 2023 and leading the number of projects with 123 investments, ahead of Canada and Latvia, according to Vestian, an international real estate consultancy, which provided this data based on information from the Dubai Land Department.

With the UAE aiming to double Dubai's GDP by 2033 and establish itself as a global economic hub, Indian investors are taking advantage of a dynamic real estate market and policies that are mutually beneficial to investors. The continuously positive trend reflects the mutually beneficial relationship between India and the UAE, further strengthened by the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2022. Vestian CEO Srinivas Rao emphasizes how much this contributes to the ambitious economic goals set by the UAE government.