About Dh7.3 billion (US$1.98bn) worth of equity is “on the sidelines” waiting to be invested in distressed property assets across the GCC, with Abu Dhabi, Qatar and Saudi Arabia being the most attractive markets, according to the property consultant Jones Lang LaSalle.
The funds, which were raised in the first three quarters of last year, have been held back since the Lehman Brothers collapse in September and the subsequent regional market downturn.
According to Ian Ohan, the head of investment transactions at Jones Lang LaSalle MENA, investment opportunities are now being sought for these funds, and more capital is beginning to accumulate as investors regain their composure.
Investment funds that previously focused on the international market also are being directed regionally.
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