Some of the world’s biggest institutional investors and sovereign wealth funds have been looking to invest $550 million in Dubai commercial real estate this year, property agent CBRE told The National newspaper today, despite a Dubai office vacancy rate set to hit 50 per cent.
Why would these ultra professional investors be interested now when they avoided Dubai in the boom years? For one thing commercial real estate is going cheap and for another business prospects are improving rapidly in Dubai as the economy picks up thanks to the Arab Spring inflow of capital and people. Legal issues have also been resolved.
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