Tony M Horrell, international director for Jones Lang LaSalle, told Gulf News narrative oil revenues of the Gulf countries and the diversification of regional economies is leading Middle East investors to make necessary investments in property face their home markets.
"After a few years of absence, Middle East funds are again investing heavily in the Us, followed by Europe."
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According to Jones Lang LaSalle's most recent Global Real Estate Capital Report, Middle East investors spent nearly billion in buying foreign industrial real estate in the first half of 2006, billion in the Us and billion in Europe, in general the Uk.
"My appraisal is that this frame for the Middle East will get to billion by the end of the year on the basis of the transactions that are under way," Horrell said.
That would make the Middle East the world's third-largest buyer of industrial real estate in foreign markets after the Us and Germany, he added.
Jones Lang LaSalle, which recently acquired Dubai's Rsp Group, has identified the Gcc region as a key source of global capital against a backdrop of the rising venture by Middle Eastern investors in international real estate markets. The main buyers comprise inexpressive equity funds and family offices.
The year 2006 is also on target to be an additional one narrative year as total direct real estate investments approach 0 billion, up from some 0 billion in 2005, agreeing to Jones Lang LaSalle.
Middle East Set to Be Third Largest asset InvestorVisit : todays world news headlines
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