Chinese firm to invest $1.3bn in UAE real estate

Investors in the UAE’s property market have been boosted by the news that Fidu Properties, a Chinese property developer, aims to invest $1.36 billion in UAE real estate over the next three years.

Having opened an office in Dubai in April, Fidu is looking to expand its GCC operations.

The first stage of this expansion plan is $544 million of investment in Dubai real estate before the end of the year.

According to Fidu Properties’ marketing manager Amit Dahima, the company is bullish about the growth potential of the UAE’s real estate sector. “We feel the growth in the coming years would be phenomenal, particularly in the real estate sector which represents one of the strategic priorities of foreign direct investments into the UAE,” he said.

The Fidu news follows a recent state visit from Chinese president Xi Jinping, the first time a communist party head has visited the UAE.

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