Mideast property investors target Europe Regional investors account for 9% of the European real estate market in the first half of 2013 Dubai: Middle Eastern investors are increasingly putting their money on properties in Europe. They accounted for nine per cent of the European commercial real estate market and 21 per cent of cross-border transactions in the first half of this year, a recent report by global real estate consultancy, CB Richard Ellis (CBRE), showed. London led the European markets for investments, with the city accounting for around 50 per cent of total transactions coming from different global markets, the report said. The Middle East holds a higher percentage. Nick Maclean, Managing Director at CBRE Middle East, told Gulf News that “65 per cent” of transactions from the Middle East were targeted at London properties. “London remains the destination of choice for foreign investors due to its solid growth potential and its status as a global financial hub, alongside its stable political environment and a transparent legal system, which are key for international and regional buyers alike,” Maclean said in the report. Income streams AdTech Ad Maclean told Gulf News that investments from the Middle East were in office buildings, mixed use buildings, as well as boxed retail outlets located outside central London. The buildings have helped create income streams for investors, he said. “They are producing income from people who occupy the space,” he said. Investment capital from outside Europe made up 28 per cent of total transactions in the region during the first half, it said. Meanwhile, for the same period, buyers from North America accounted for 13 per cent of the European market and 24 per cent of cross-border transactions.
Posted on: Thu, 29 Aug 2013 07:25:34 +0000
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