Opportunities in store for property investors

You do not need to be a seasoned property developer or investor to feel the stress in the Middle East and North Africa property market. Office rents and house prices have plummeted as supply suddenly seems to outweigh demand. Disputes between developers, contractors and buyers have multiplied.

It is easy to get swept away with the headlines, especially in a global downturn. Tucked away in the barrage of bad news are some good opportunities, not so much because prices and construction costs have fallen; simply because they have been overlooked, even during the boom.

Real estate has always been a dominant asset class. But investors have generally focused on the mid- to high-end residential market, and on malls, hotels and offices.