Pakistani bought $ 4.3 billion property in Dubai in one year

[Albatross]

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, media reported on Sunday.
Pakistanis purchased properties worth over $4.3 billion (16bn dirhams) in 2013 and 2014 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. Pakistanis also make up the second largest non-Arab nationality in the UAE.
In a January market sentiment survey by Zameen.com, a Pakistan’s property portal, a large number of respondents said they only wanted to invest in Pakistan. However, 49pc of participants who wanted to invest abroad wished to buy property in Dubai.
Bayut.com, a Dubai-based property portal, shared some insights from its UAE real estate market database.
The figures divulged by Bayut.com registered a quarter-on-quarter (Q1’14 to Q1’15) hike in searches originating from Pakistan regarding buying property in Dubai. Pakistanis’ searches for buying property in Dubai went up to 87.29pc in Q1 2015 from 85.40pc in Q1 2014.

Pakistanis invest third biggest amount in Dubai property | Pakistan Today

 

[Danish saleem]

As a small student of economics, what is wrong in that if Pakistani's invested in Dubai?
secondly the Law and Order conditions from last 30 years were worst, and every person having money want to live in peace and harmony and want reasonable returns with secure Investments.

 

[Albatross]

This is too big an amount for a country having a Defence budget of $7 billion only proving the fact that people here are much richer than the poor gov't . We need to look into ways to tax such transactions and invest in Defence .

As a small student of economics, what is wrong in that if Pakistani's invested in Dubai?
secondly the Law and Order conditions from last 30 years were worst, and every person having money want to live in peace and harmony and want reasonable returns with secure Investments.

I didn't say there's anything wrong with that but it shows Pak investments in one country only and Pakistani overall investments in the whole world would be greater than $10 billion in the period of one year more than our Defence budget and more than half of our foreign currency reserves so we need to tax it and also motivate our own people first to invest in Pak before going to foreign investors .

 

[Stephen Cohen]

what is wrong in that if Pakistani's invested in Dubai?

It is the outflow of capital ; the capital which could have been invested inside Pakistan
for generating economic growth and employment

 

[Sugarcane]

what is wrong in that if Pakistani's invested in Dubai?

Nothing wrong corrupt people robbing Pakistan and investing the loot in other countries?

 

[salmanACCA]

As a small student of economics, what is wrong in that if Pakistani's invested in Dubai?
secondly the Law and Order conditions from last 30 years were worst, and every person having money want to live in peace and harmony and want reasonable returns with secure Investments.

because 90% of these property or bought with money laundering proceeds

 

[Danish saleem]

Nothing wrong corrupt people robbing Pakistan and investing the loot in other countries?

Bro,

first of all bro, in dubai investments are coming in from all over the World, and if we make business friendly policies people start investing in Pakistan also.

It is the outflow of capital ; the capital which could have been invested inside Pakistan
for generating economic growth and employment

Brother,

this is the problem of third world countries they not even able to make business friendly policies, which suits the requirements of local country man.
I knew many businessman , who shifted their business to Dubai because of Business friendly policies in Dubai.

 

[Pakistani E]

Well I want to invest in Pakistan, problem is I neither trust the government or the majority of the people (if you find this offensive than you are hiding from the truth). Got an incident of a close relative investing there, he came back with a substantial amount of his money missing. In that type of an environment, what do you want us to do? The only way people like me can invest in peace is if we become part of the corrupt system and pass some "gifts" around. We are not going to do that, might has well invest in foreign countries.

 

[I.R.A]

Well I want to invest in Pakistan, problem is I neither trust the government or the majority of the people

True.

 

[Bouncer]

As a small student of economics, what is wrong in that if Pakistani's invested in Dubai?

1. If you compare the inflows vs outflows, there is a massive difference in favor of outflows. There's your first negative. This money should have been invested in Pakistan. People are investing out of Pakistan because they can't find enough avenues to grow their net value due to a number of reasons. Simply stating inflows good, outflows bad especially for a country like Pakistan with a chronic account and trade deficit.
2. If you are inclined to believe the conspiracy theories going around, it is possible that a certain portion of this money is illegal. Remember the famous "turn your black money to white by investing in stocks while we look the other way" scheme by Zardari? Well this is a more legal way of doing this. Governments of Pakistan and UAE are effectively looking the other way while Pakistani money is entering UAE. And UAE is not exactly known for asking source of money and other bullshit like transparency.
3. Finally even for UAE, this money is going in to real estate. All the top cities of the world face this problem; foreigners pump their (legal and illegal) money in to their real estate. The result: property prices go up and out of reach of the actual residents of these citizens. In fact this issue has been highlighted by civil society groups in London recently. Here is a link if you are interested Empty homes, foreign buyers fuel resentment in London - The Globe and Mail
4. And finally for the investors themselves, UAE (and Dubai in particular) real estate is a gamble. Unlike older and established major cities, Dubai is a newcomer built entirely on credit. Remember the 2008 financial crisis? People left their cars parked in Dubai airports and fled. Lots of properties lost millions in worth overnight. There is nothing to say that this can't happen again.

Hope it helps.

 

[Kambojaric]

Well I want to invest in Pakistan, problem is I neither trust the government or the majority of the people (if you find this offensive than you are hiding from the truth). Got an incident of a close relative investing there, he came back with a substantial amount of his money missing. In that type of an environment, what do you want us to do? The only way people like me can invest in peace is if we become part of the corrupt system and pass some "gifts" around. We are not going to do that, might has well invest in foreign countries.

Indeed. The UK is full of Pakistanis who have saved up and invested in property in Pakistan only for shameless relatives and acquaintances back home doing "qabza" on these properties. If not them then a local thug will do this anyways. Where people are corrupt and the authorities do nothing about it, no sane minded individual would invest their hard earned money there.

 

[Pakistani E]

Indeed. The UK is full of Pakistanis who have saved up and invested in property in Pakistan only for shameless relatives and acquaintances back home doing "qabza" on these properties. If not them then a local thug will do this anyways. Where people are corrupt and the authorities do nothing about it, no sane minded individual would invest their hard earned money there.

Exactly.

(This post is only so I can get 3000 posts.)

 

[Kambojaric]

Exactly.

(This post is only so I can get 3000 posts.)

Haha why not donate like 400 posts to me so I can finally become a senior member

 

[Pakistani E]

Haha why not donate like 400 posts to me so I can finally become a senior member

I can't donate posts but I can sign a mutual "thanks" agreement whereby both of us will thank each other posts wherever we see them. What say you ? deal?

 

[rockstar08]

Haha why not donate like 400 posts to me so I can finally become a senior member

be active on PDF , its a good Source to learn
you will be senior member in no time ..