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London accounts for 50% of Mideast real estate investments in Europe: report

Global commercial real estate services firm, CBRE Group Inc. has said London was the destination for almost 50% of Middle East investment in European commercial property in the first half, as political stability and growth prospects attracted buyers, Bloomberg has reported. The Middle East accounted for 9% of all commercial real estate bought in Europe during the period, up from 6% a year earlier. Almost half of the Middle East investment in Europe comes from the region's sovereign wealth funds, according to the report. "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," Nick Maclean, Middle East managing director at CBRE, wrote in the report.