Cookies on the this website
We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website. However, if you would like to, you can change your cookie settings at any time.

New to PropertyWire?

Welcome, and thank you for visiting our website.

PropertyWire is the leading publication for property investors and industry professionals interested in the world of international property investment.

Our aim is to give you intelligent commentary and analysis on the world of retail and commercial real estate.
If you've enjoyed what you've read so far why not sign up for our FREE property alert and online magazine PropertyWire Confidential.

Every week the PropertyWire team sends out a hard-hitting newsletter packed with news and analysis of the top stories plus the best investment opportunities on the market. We always look at the bigger picture like the Euro Crisis, and explain how this will affect YOUR investments.

Ask me later
No thanks

Mar 31st
Lost Password? Register
Home arrow News arrow Middle East arrow Wealthy property investors name Dubai as their preferred Middle East location

Wealthy property investors name Dubai as their preferred Middle East location

Wednesday, 26 December 2012
Dubai is the most attractive destination to private investors within the Middle East region, with Riyadh and Doha emerging as strong secondary and tertiary target locations, respectively, a new report shows.

Despite Eurozone uncertainty dragging down the performance of the broader global economy, the Middle East is the only global region to have recorded positive growth in total HNWI wealth from 2010 to date, says the report from real estate specialists Cluttons.

This corresponds with International Monetary Fund predictions of an average GDP growth of 3.4% across the Gulf Cooperation Council next year and expectations for Gulf States to outperform major western economies.

The report, which examines investor sentiment in the region, says it is therefore unsurprising that the number of HNWI looking to invest regionally is 60% higher than in 2011 and that 80% of those surveyed are very likely to make an investment in the region during 2013.

Dubai emerged as the top investment target for both investors from the United Arab Emirates and those from all other cities surveyed, with 80% of HNWI very likely to make an investment in Dubai during 2013.

Within Dubai itself, HNWI interests are split across several sectors with 40% looking at residential, the same at hotel and leisure property investment and 20% retail and malls. Typical budgets for Abu Dhabis HNWI seeking residential assets in Dubai range from AED50 million to AED80 million, with multi storey G+8 to G+12 tenanted residential buildings which contain some mixed use and good covenants, topping wish lists.

Aside from Dubai, Saudi ArabiaҒs residential market and Dohas office, hotel and leisure sectors remain high on the lists of Abu DhabiҒs HNWI.

For investors based in the Bahraini capital, Riyadhs residential market and DohaҒs residential, office and hotel and leisure sectors are also of high importance. For HNWI from Muscat industrial assets in Riyadh and Dohas hotel and leisure sector come second to Dubai.

After Dubai, the Kingdom of Saudi Arabia emerged as the next most desirable investment destination for the regionҒs HNWI, with 20% in Abu Dhabi and 15% in Manama stating that residential property in Riyadh was high up on their target lists, while the Saudi capitals industrial assets topped MuscatҒs HNWI interests at 20%. Some 60% of Riyadh based investors identified Dubais residential, office and hotel and leisure sectors as sought after asset classes.

The report points out that the abolition of all restrictions on foreign property ownership in May 2012 has helped to propel Istanbul on to the radars of the regionҒs HNWI, with 60% of those surveyed naming the Turkish capital as an emerging destination of high interest.

Doha, which hosts FIFAs World Cup 2022, is also experiencing an upturn in investor interest as the country plans to undertake up to US$150 billion of infrastructure development over the next 10 years in the run up to the event. Specifically, the Qatari capitalҒs residential and hotel and leisure sectors are of particular interest for the regions HNWI according to the survey.

ґDubais improved attractiveness, as a result of the regional geopolitical tensions, coupled with the emirateҒs economic recovery has in effect created a perfect storm, which Dubai is benefitting from tremendously, said Ian Gladwin, chief executive officer at Cluttons.

ґIt is clear that real estate assets continue to take precedence when it comes to regional investment activity. That said, given the ever changing economic climate, coupled with the long lasting effects of the recession, a clear strategy focussed on building diverse asset portfolios within the Middle East is beginning to emerge, with the regions stock markets, alternative investment funds and gold helping to balance out investorsҒ portfolios, he explained.

BOOKMARK THIS PAGE (What is this?)     Digg!Reddit!!Google!Live!Facebook!StumbleUpon!Newsvine!Furl!Yahoo!

More Recent News
Earlier News
To see all the latest news articles in our monthly online magazine, Property Wire Confidential, sign up free here

Car park

The Foundry

Car park

Barratt Homes

West Tower

Middle East: Top Headline

Prime property market in Dubai sees sales fallPrime property market in Dubai sees sales fall{mosimage} Dubai luxury home prices remain relatively resilient despite a drop-off in sales activity, according to the latest analysis of the Emirate’s residential real estate market.

Search for Properties:

Feature story

Student accommodation investment check List

It’s the UK’s strongest asset class, but are all student accommodation properties good investments? This is the comprehensive list of what to watch out for when buying student property.


Company news

Cluttons opens new office in Spain

International real estate services company Cluttons which operates in over 50 countries has opened in Andalucía, Spain, to increase its international presence and bring its residential real estate expertise to the Costa Del Sol.

Finance Update

Leeds Building Society to accept Help to Buy remortgage applications

Leeds Building Society is the first lender in the UK to announce it will accept re-mortgage applications from Help to Buy Equity borrowers.


Student accommodation investment check List

It’s the UK’s strongest asset class, but are all student accommodation properties good investments? This is the comprehensive list of what to watch out for when buying student property.



Subscribe to our weekly newsletter and stay updated on the property market trends.
Subscribe now >>

Subscribe to our Middle East property and real estate news feed (RSS)