Indian investors will invest $335 million in the Dubai market in the first half of 2023: Report.

Investors from India have significantly increased their investments in Dubai, totaling US$1.6 billion from 2020 to the first half of 2023, according to a report by international real estate consultant Vestian.

Dubai's strategic location coupled with tax incentives serve as a key incentive for Indian investors and businessmen looking to expand into new markets.

Indian investment in Dubai nearly doubles from 2020 to 2022, reaching $541 million in 2022. The first year and a half of 2023 will account for 62% of the investment for the entire previous year. Indian investors have made significant purchases in the Dubai real estate market, exceeding US$4 billion in 2022.

After the weakening of COVID-19, Indian investors have consistently increased their investments in Dubai, showing a remarkable upward trend since 2020. Investment nearly doubled from 2020 to 2022, reflecting a positive trend. This optimistic trend is expected to continue and is in line with Dubai's economic program outlined in D33.

In the first half of 2023, India was one of the leading countries investing in Dubai with a total investment of USD 335 million.

The UAE aims to double Dubai's GDP by 2033 and position itself as a global economic center. Indian investors are taking advantage of the opportunities presented by the Emirate's dynamic real estate market and investor-friendly politicians.

"The continued positive trend is testament to the mutually beneficial relationship between India and the UAE, which has been strengthened by the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2022 and contributes to the ambitious economic goals outlined by the UAE government," said Vestian CEO Srinivas Rao, who holds the title of FRICS.

According to the Dubai FDI Monitor report, substantial investment from India has been directed towards the information technology and business services sectors. The end of the second quarter of 2023 marked an investment of US$10.5 million, mostly in new projects.

"Dubai has emerged as an obvious investment choice for individuals and businesses from India, offering a lucrative alternative to the significant tax liabilities in their home country. The recent announcement of a transnational rail and sea route connecting the India-Middle East-Europe triangle during the G20 summit is expected to improve ties between the UAE and India, promoting economic development," Rao added.