Norwegians second biggest buyers of Dubai commercial real estate

Norwegians second biggest buyers of Dubai commercial real estate

Norwegians were the second biggest recorded buyers of commercial real estate in Dubai in the second quarter of 2023 after Indians, with the UK, France and Russia making up the remainder of the top five, according to a real estate company’s data.

CRC, an affiliate of Betterhomes, said two Norwegian investors had made acquisitions comprising multiple units during the quarter, making them the second largest buyers in the commercial category recorded by the agency.

The company declined to reveal specifics about the acquisitions, but the increased presence of Norwegian entities as buyers of commercial real estate marks a change from the first quarter of 2023, when Indians were the top buyers, followed by Canadians at number two, then buyers from Azerbaijan, the UK and Lebanon.

While Indians also took the top spot for the full year of 2022 at 27%, buyers from the UK were the second largest group, followed by Jordanian, Russian and then Portuguese investors.

Norway number crunching

Norway, which has a population of 5.4 million people, has a sovereign wealth fund which is one of the world’s largest investors, valued at $1.4 trillion, and is ranked 11 in the world for GDP per capita, while Qatar is number one and the UAE