2008 may be remembered as the year with no place to hide.
Half a decade of speculative excesses produced the worst global recession in two generations and steep declines in nearly every asset class deemed not to provide the utmost safety. Few markets anywhere escaped intact, but UAE investors, who benefited more than many during the boom, may have been left feeling especially exposed.
An index of UAE stocks compiled by the research firm MSCI Barra fell 73.2 per cent on the year, far more than the 42.1 per cent decline of the MSCI World Index.
I think it would be sensible for high net worth individuals in the GCC and the banks of the region to invest in UK property, which is now heavily discounted. The weak pound makes the market even more attractive. I find it odd that more investors aren't entering the UK real estate market and buying while the situation continues.
ReplyDeleteRegards
Tim