Abu Dhabi sees economy boosted

17/08/2011 - Northern Emirates Property & Investment News Posted by Neil King
Abu Dhabi sees economy boosted

Property investors interested in developments in the Middle East could be among those encouraged by the publication of a recent report.According to figures from Alittihad, high oil prices have led to improved economic condition in the emirates, which in turn has led to higher net earnings for 50 companies based in the region, Emirates 24-7 reported.The firms announced increases of almost 15 per cent for the first half of the year.It comes despite political unrest in the area, a fact that could make Abu Dhabi's resilience appealing to overseas property investors."Companies suffering from losses include seven cement firms, two insurance companies and two others involved in investment and consumer goods trade," the news provider explained."The banking, real estate and energy sectors emerged as the best performers in the first half of this year while industry and consumer commodities were least."Abu Dhabi also recently saw demand for the forthcoming Grand Prix boost interest the region.The Etihad Airways Abu Dhabi Grand Prix is already 70 per cent sold out, despite not being staged for another three months.