Global real estate consultancy firm CBRE says that both Qatar and the United Arab Emirates have pumped $5.24 billion and $4.54bn respectively as foreign direct investment in global real estate.
CBRE’s latest report shows that the global real estate markets attracted investments worth more than $407bn during the first half of 2015, the highest since 2007. This represents an increase of 14 per cent from the same period of the year’s performance in 2014.
Although the pace of growth has accelerated over the past years, the rate of growth slowed in the first half of 2015 and a great variation can be observed in growth at the regional and international levels, reports Qatar-based Al-Sharq.
Despite the fall in oil prices, the buyers from the Middle East have maintained their high investment activity and, overall, pumped $11.5bn into foreign markets during the first half of 2015.
Nick Maclean, managing director, CBRE Middle East says: “Data from H1 2015 shows a continuing acceleration in the flow of capital out of the Middle East region by private offices and high-net-worth-individuals.”
($1= AED3.67, at the time of publishing)