More HNWIs will invest in Dubai next year

11/12/2012 - Dubai Property News Posted by Bob Brunskill
More HNWIs will invest in Dubai next year
More and more high net worth individuals (HNWIs) are expected to secure a property investment in Dubai in 2013.A new survey conducted by real estate specialist Cluttons indicated that 80 per cent of wealthy people from within the UAE and other cities across the Gulf Cooperation Council will add to their portfolios next year.The emirate is undergoing a building boom at the moment, with a host of world-class properties being erected in popular parts of the city and it seems there will be plenty of takers once they are complete.Chief executive officer at Cluttons Ian Gladwin said there are a number of reasons for the increased demand for Dubai real estate."Dubai's improved attractiveness, as a result of the regional geopolitical tensions, coupled with the emirate's economic recovery has in effect created a 'perfect storm', which Dubai is benefitting from tremendously," he remarked.It is interesting to see that UAE-based investors are concentrating on different parts of the market.According to the survey, 40 per cent of people will favour residential buildings in 2013, while the same percentage are planning to focus on the lucrative retail and leisure market.This is hardly surprising given recent predictions that visitor numbers are set to soar in the coming years, so it is highly likely that hoteliers will make huge profits.A further 20 per cent of UAE investors are looking to secure new assets in the retail sector, which is sensible when you consider the significant amount of footfall Dubai's shops will benefit from in the near future.This is one of many recent studies that have highlighted the enormous popularity of Dubai investments.Last week, Jones Lang LaSalle revealed that foreign investors are looking favourably upon Dubai thanks to its strong economic performance.Leaders at the firm told Emirates 24/7 that people are particularly impressed with the city's "international appeal, transparency and legal structure".Taking all of this into account, it is safe to say that 2013 will be a very busy year for property investors in the Middle East.Buying property in Dubai? Let the experts at The First Group help you out