| From Arabianbusiness.com: Middle East investment in US real estate is expected to be flat or down this year despite the $3.7 billion acquisitions of New York's Chrysler Building and the General Motors Building.
Investors from the Middle East have spent $2.7 billion on U.S. assets in the year to date, according to data from real-estate research firm Real Estate Analytics Inc. At that pace, full year sales will be significantly below last year's $8.2 billion.
The current investment climate has given cash-rich Gulf governments an edge over other investors as the cost of debt remains high in the wake of the global credit crunch and US property prices continue to slump, although prices have held up in Manhattan..... Full Article: Source
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