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Gulf investment in foreign property to surge
- Wednesday, January 16 - 2008 at 14:05
Gulf Arab investors, flush with surplus cash from record oil revenues, will spend more than $20bn on international property acquisitions in 2008, according to Blair Hagkull, managing director, Middle East and North Africa, for Jones Lang LaSalle, the world's second-largest commercial real estate broker. He said Gulf investment in foreign property is set to grow 50% this year, helped by liquidity in the region and the credit crunch in other parts of the world.
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Jeff Florian, Senior ReporterWednesday, January 16 - 2008 at 14:05 UAE local time (GMT+4)
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