Insurance News Archive
Middle East boosts UK commercial property sector
Investors from the Middle East have pumped more than 45.8 billion Dirhams into the UK's commercial property sector, according to latest reports.
A recent study by DTZ, the international property consultants, shows that the Middle East is boosting the commercial property sector, reports Gulf News.
Figures show that this investment is more than the entire portfolio of property giant Hammerson, which is worth 38.55 billion Dirhams.
It is also thought that a Middle East consortium is to expend £540 million on one of the most prominent buildings in London this week.
However, despite investment in the UK, the property sector in the Middle East is also showing no signs of slowing, with the country witnessing investments worth 212 million Dirhams a week.
"Although Europeans are the largest investors in the UK's property market, the Middle East is becoming stronger these days and we expect this to go up considerably this year and the coming years," property expert, Nick Edmondes, told Gulf News.
Property investors are attributing the boost in investments to the fact that Islamic Banks are investing heavily in the UK's property market.
05 May 2006