Chinese direct investments in Dubai grew by four times in 2018, recording AED 2.5 billion, compared to AED 459 million in 2017, Emarat TV reported.
Khalid Al Boom, deputy CEO of Dubai FDI, said that the emirate has witnessed 25 Chinese projects last year, rising by 13 projects as compared to 2017, according to the TV channel.
The Dubai-based real estate brokerage FIDU Properties previously said that Chinese investments in the UAE’s real estate sector are likely to rise by 70% in 2019.
Chinese investors are one of the top four nationalities investing in Dubai, FIDU Properties said.
In the first nine months of 2018, Chinese nationals have invested AED 1.7 billion into Dubai, according to Dubai Land Department (DLD).
Moreover, DLD has unveiled plans to attract around AED 1 billion Chinese investments in the real estate market this year.
It is worth noting that the number of Chinese expats in Dubai rose by 53% in the past five years, with almost 230,000 people currently living in the emirate and around 4,000 Chinese firms operating there.