Dubai offers 'safe haven' to property investors

13/10/2011 - Dubai Property News Posted by Neil King
Dubai offers 'safe haven' to property investors

Property investors could be tempted to look for new opportunities in Dubai after the emirate was described as a "safe haven" by a leading financial institution.Despite the political turmoil engulfing some of the surrounding areas in the Middle East, Dubai has seen demand gain pace.That is according to Saudi Arabian bank National Commercial Bank (NCB), which noted that while some areas remain "soft", Dubai is showing signs of strength."Demand in some segments is clearly now recovering, further helped along by perceptions of Dubai as a relative safe haven after a period of political turmoil in parts of the Middle East," NCB told Emirates 24-7."Even as much of the Dubai real estate sector remains soft, select market segments have begun to see actual price growth … the overall price and rental declines are now in the low single digits."The organisation also claimed that the growth in demand is not exclusive to the residential property market as demand for high-quality office space is also on the rise.