Global trade with Iran could give $100m boost to banks' trade finance revenues - Middle East Global Advisors:
"The nuclear deal between Iran and the world powers will not only boost and revive the Iranian economic landscape but would be a boon for business and investments in some GCC countries, but particularly the UAE. Dubai is expected to act as a base for foreign companies wishing to setup and run businesses to serve or enter the Iranian market. These investors will boost the UAE’s commercial real estate markets as they work to tap a new market of 80 million and a relatively diverse economy for the region. In addition to the investors interested in Iran, the economic reconnection of Iran with the outside world is expected to draw a lot of Iranian investors back into the UAE property market.
Prior to the imposed sanctions, Iranians were amongst the top investors in the UAE’s real estate market. A survey conducted in 2012 by the Reidin, a real estate information company focusing on emerging markets, found that nearly 62% of the Iranian investors’ preferred choice of foreign investment is the UAE. This news fares well for the residential property market in Dubai since the investors preferred real estate in Dubai and most commonly invested in residential real estate.
Dubai’s residential market has slowed down in the past 12 months and prices are expected to remain flat-to-down as a result of oversupply after a large number of residential projects come online in 2016. Traditionally, Dubai’s property market has significantly benefited from the presence of a large Iranian community (an estimated 600,000 Iranian residents live in the UAE) and last year, despite the sanctions, Iranians invested AED 4.5 billion (according to Dubai Land department’s figures) in Dubai’s property market."
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