Middle Eastern investors double global property investment in 2010

15/09/2010 - Dubai Property News
Middle Eastern investors double global property investment in 2010

Posted by Neil King

Middle Eastern investors have remained the second largest inter-regional purchasers of global real estate by more than doubling their investments in the first half of 2010 compared to the same period last year.

A study by real estate specialist Jones Lang LaSalle found that Middle Eastern investors were second only to global funds in terms of the most active inter-regional purchasers in the first six months of this year. US investors were third and South Korean investors fourth.

The finding came as Jones Lang LaSalle revealed that total global commercial real estate investment reached $132 billion for the first half of 2010 - nearly doubling the $76 billion recorded in the first half of 2009.

In addition, the company confirmed that after reaching a low of 31 per cent of total volumes in the first half of 2009, cross-border activity is now back at a pre-crisis level of 43 per cent, with such a trend set to continue for the remainder of 2010.

Richard Bloxam, head of pan-EMEA capital markets at Jones Lang LaSalle, commented: "Intra-regional investment in EMEA has also seen a strong recovery, particularly of the larger lot sizes and shopping centres as institutional demand and available debt continue to return to real estate; particularly for the more prime assets."
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