18.01.2012 - MENA property a safe haven amid global uncertainty in 2012
Global investors, seeking a safe haven for their wealth amid uncertain economic conditions, are increasingly shifting capital into MENA real estate, according to the region's largest luxury developer DAMAC Properties. The emerging trend is the result of a combination of factors, the most significant of which is the stabilisation of property prices, coupled with attractive rental yields of between 7-12%, according to CB Richard Ellis. "The European debt crisis is likely to constrain real estate prices across the Eurozone, the U.S market is still flat and with China and Hong Kong property prices tumbling, the Middle East by comparison, is looking increasingly attractive" said Niall McLoughlin, Senior Vice President of DAMAC Properties. (Press Release)