Institutional investors are avoiding Gulf distressed properties as few buildings are under one owner and the property landscape lacks sound legal infrastructure and transparency, experts say.
“Certainly there are opportunities here but your do not find a typical distressed asset because you do not find properties controlled by one or two or three owners,” Jurgen Herre, head of Middle East and North Africa for real estate firm Hines, said at Abu Dhabi Cityscape.
Hines last October announced a plan to collect $1 billion from regional funds and investors to create a distressed asset fund focusing on the UAE.
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