Dubai realty awaits the Iranian lift-off |GulfNews.com:
"Iranian investors have already started making approaches on taking possible exposures in Dubai’s real estate, according to market sources.
“In the last 48 hours, we have been taking calls from Iranian prospects, who have sounded out the possibility on exposures in locations such as the Downtown and for mid-tier properties elsewhere in Dubai’s freehold areas,” said Juwaad Beg, CEO of Al Madina Al Raeda Real Estate, a developer. “These are definitely early days, but if the sanctions are lifted in full, Dubai’s real estate will be a clear — and immediate — winner from Iranian fund flow into the UAE.”
On whether the Iranian rial’s continued weakness against the dollar will not be a deterrent, Beg said: “These investors don’t care … they have been cut off from the enough investment/asset options for way too long under the sanctions regime. They are good to go the moment these are lifted."
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