Fidu Properties, one of the leading Chinese companies in the UAE property market, has announced real estate deals worth Dh380 million ($103.45 million) with Emaar Properties for residential and commercial spaces spanning 210,000 sq ft at The Grand at Dubai Creek Harbor, the iconic tower being built at the world-class waterfront destination in Dubai.

 

The deals, one of the biggest transactions in Dubai in 2018, were recently concluded between Fidu Properties and Emaar on behalf of leading investors from China and across the globe. 

 

Rising majestically from Creek Island, the 62-storey Grand at Dubai Creek Tower skyscraper will set a new standard for ultra-modern living in the region.

 

Fidu Properties, which opened its regional office in Dubai in April this year, also announced plans to invest about Dh2 billion ($544 million) in the Dubai real estate sector before the end of 2018. As part of this, the company plans to introduce different real estate projects in Dubai to its high profile list of investors.

 

Gary Zhang, CEO of Fidu Properties, said: “The company is delighted with the deals with Emaar, which has carved a niche worldwide for the quality and appeal of its projects. Emaar is among the most preferred real estate developers in Dubai for our customers who are keen to seize the opportunities amidst massive growth potential on offer in the Emirate.”

 

He added: “We are also in talks with Emaar and other developers and are close to finalise more deals in the near future. Dubai is among the leading investment destinations, particularly in the real estate sector which represents the cornerstone for Foreign Direct Investments into Dubai, driven by the concerted efforts of the government and other authorities.”

 

Zhang also reinforced that its investor clientele is thrilled with the deals, and willing to invest more in Dubai as it offers one of the highest ROI in the world. “The additional incentives offered to investors by the government, including the decrees on visas and insurance will definitely boost the flow of investments into the country,” he said.

 

The real estate market at the moment is slow, and offers are much more than the demand, Zhang said, adding that the market is fast heading towards a balancing point, as it approaches Expo 2020. “The market right now is full of opportunities and risk, and it is very convenient for the cash buyers,” he summed up.

 

The Chinese presence in the Dubai real estate market is increasing with time as more Chinese investors and citizens moving into the UAE for living and working as well as tourism. With Expo 2020 closing in, the presence of Chinese will be very significant in the time to come, said the statement. At Expo 2020, China will showcase its ‘Belt & Road’ initiative as well as its latest technologies.

 

China and the UAE already collaborate comprehensively in several sectors including economic, cultural and educational. Trade between China and the UAE touched $41 billion in 2017. - TradeArabia News Service