African Buyers Investing in Dubai Real Estate

Business Outlook

African buyers are snapping attractive deals in Dubai's fast-changing real estate market. Investors from Nigeria, for instance, have been among the top buyers of property in Dubai from Africa.

African investors buying property in Dubai range from those fleeing high interest rates or economic uncertainty to super rich VVIPs, who include Africans looking for a safe haven for their money or to relocate to a safer and more attractive lifestyle far from their country of origin.

Following in the footsteps of the "big buck" investors from Africa is a flood of ambitious, aspirational Africans, including the younger generation of tech startup entrepreneurs, social media influencers, cryptocurrency gurus who are shifting to Dubai in search of a richer, wider global audience.

African Buyers Dubai Property

As a result, many real estate agents in Dubai are looking for opportunities to sell to African buyers, specially HNWIs, entrepreneurs, institutional investors and affluent African business persons.

Interestingly, majority of Africans buying properties are relocating permanently to Dubai. The answer to that is simple – Dubai is one of the most dynamic and rapidly growing cities in the world, poised for even higher growth ratesin the coming years.

Dubai also offers endless possibilities and opportunities to create wealth and enjoy a higher standard of living. By investing in Dubai real estate, African investors are able to join the many successful investors who have already taken advantage of the city's robust property market and experience the benefits of owning property in one of the world's most sought-after destinations.

Experts believe that skyrocketing property prices in Dubai has attracted African investors who have made investments in buying a small property in Dubai, then sold it at a profit after some time – a practice known in the real-estate parlance as ‘flipping’.

It is believed that most African buyers prefer buying property around $1 million (AED 3.67 million), although some African investors have bought as many as 5 or more properties at that price.

Financial Ease

Most African buyers also feel that it is relatively easier to transfer money to Dubai in order to make property purchases. Most banks in Dubai ask all investors to follow the procedure of know-your-customer (KYC) regulations and to comply with stipulated measures that have been in place to avoid money laundering transactions. Most Africans buying properties in Dubai comply with all these regulations and are now reaping rich benefits from the real estate investments.

As a rule, most real-estate brokers check the names of buyers against two lists – the UAE local terrorists list as well as the United Nations Security Council Consolidated List. If any investor's name is present on any of these lists, the transaction is flagged and reported to the concerned authorities.

Market Projections

The market has not yet reached its peak with international demand based on “push factors” bringing people to the UAE, including the war in Ukraine but also the cost-of-living crisis, rising taxes and natural disasters, which are likely to continue. Off-plan properties offering a hedge against higher interest rates as well as luxury homes are likely to be prominent.

According to data provided by the Dubai Center for Statistics, Dubai’s population is expected to grow to 6.2 million by 2040. This steady population growth will lead to more real estate projects, thereby making the Dubai property market an attractive investment opportunity. Not to mention the increased domestic sales as more and more residents opt to buy property instead of renting.

Nigerians: Leading Property Buyers from Africa in Dubai Real Estate Market

Nigerians have, by and large, emerged as one of the leading buyers from Africa buying property in Dubai. As a result a growing number of property consultants in Dubai are now targeting potential property buyers in the HNWI sector in Nigeria.

This year Dubai's property market started to rebound and recover from the COVID inflicted economic recession and Nigerians have emerged among top foreign investors in the property sector in Dubai.

Traditionally too the rich Nigerian have been known to invest in buying second homes in London, New York and Paris where they prefer to shop and holiday. Today, Dubai has emerged as one of the top destinations for property acquisition by rich Nigerians.

Even during the COVID pandemic upto $6 billion had been invested in Dubai's property market by Nigerians during three years between 2019 to 2021.

African Buyers Dubai Property

Why Africans invest in Dubai's Property Market

For Africans investing in Dubai’s real estate sector it is a convenient process – as investors don’t have to complete arduous paperwork to make an investment as is the case in many other countries. An added incentive is the fact that purchasing a property worth AED1 million or above automatically makes the buyer eligible for a residence visa.

The UAE government has also been one of the largest Middle Eastern investors in Africa and is planning to further strengthen bi-lateral trade and investments by opening new avenues to diversify two-way investments. As a result, Africans feel welcome in the UAE and are increasinly looking for longterm property investment opportunities in the UAE real estate market.

Advertising in Africa – Real Estate Leads from Africa

Africa Business Pages has been promoting Dubai's real estate sector among African investors through its multi-pronged advertising verticals to generate authentic business leads for real estate developers and real estate agents in Dubai. By connecting buyers with sellers, Africa Business Pages has contributed in further consolidating FDI between Africa and Dubai.

African Business Pages has a database of over 2.2 million registered users in Africa. Using this unique database, the dedicated digital marketing team at Africa Business Pages is able to reach potential buyers in Africa and redirect them to developers and real estate agents in Dubai. From email marketing, social media promotions to WhatsApp marketing and content marketing, the team at Africa Business Pages is able to reach potential buyers in Africa and connect them with the right developers and real estate agents in Dubai.

Database of HNWI / Property Buyers & Investors in Africa

Africa Business Pages has compiled a dedicated database of High Net Worth Individuals (HNWI) in Africa who could be potential buyers in property and real estate projects in Dubai and other parts of the world. The database of property and real esate leads from Africa aims to further consolidate the direct investments from African buyers into Dubai booming real estate and property markets. By providing possible leads for property developers in Dubai as well as real estate agents in Dubai the database of African property buyers compiled by Africa Business Pages has helped connect property buyers in Africa with real estate developers and agents in Dubai. Property dealers and real estate developers in Dubai have been able to generate buyer leads from Africa using the Africa HNWI Directory and their target audiences like:

Property Buyers from Angola
Property Buyers from Botswana
Property Buyers from Cameroon
Property Buyers from Congo
Property Buyers from D R Congo
Property Buyers from Cote d'Ivoire
Property Buyers from Egypt
Property Buyers from Ghana
Property Buyers from Kenya
Property Buyers from Madagascar
Property Buyers from Malawi
Property Buyers from Mali
Property Buyers from Mauritania
Property Buyers from Mauritius
Property Buyers from Morocco
Property Buyers from Mozambique
Property Buyers from Namibia
Property Buyers from Nigeria
Property Buyers from Rwanda
Property Buyers from Senegal
Property Buyers from South Sudan
Property Buyers from Seychelles
Property Buyers from Somalia
Property Buyers from South Africa
Property Buyers from Sudan
Property Buyers from Tanzania
Property Buyers from Tunisia
Property Buyers from Uganda
Property Buyers from Zambia
Property Buyers from Zimbabwe

Available exclusively on Africa Business Pages, the African HNWI Directory lists affluent African business people and potential buyers of overseas properties in as many as 25 African countries. By connecting with potential buyers in Africa, real estate developers and property agents are able to reach their target audiences in key African makets. Available for instant download, the Africa HNWI Directory is a perfect resource for those looking to reach potential property buyers in Africa.