Investor confidence 'will grow in 2009'

04/01/2009 - Dubai Investment News
Investor confidence 'will grow in 2009'

Investor confidence in the Middle East will grow as 2009 gets underway, a financial expert from ING Investment Management has forecast.

According to Emirates Business 24/7, chief investment officer Farah Foustok said that interest in the region will continue to grow in the early part of the year, with the company launching a capital raising campaign for its new equities fund in February to benefit from this sentiment.

"Recession has affected the investor sentiment. But in Middle East, it's a different economic cycle than the rest of the world," he said that the important indicator of financial health is the level of government spending, unlike the US where consumer spending is key.

Mr Foustok added that with the government committed to high levels of infrastructural development, investment interest in the region is likely to spike in the coming months.

Such news may be of interest to those who are planning on buying property in Dubai.

Elsewhere, Asad Khan, of Shaw Group Middle East and Asia, recently told attendees at a regional conference that property for sale in Dubai will remain profitable for many years to come.