GCC real estate markets to recover in 2yrs

16 Apr 2010

(MENAFN) Two separate reports issued by Jones Lang LaSalle and Colliers International showed that most investors expect the Gulf property market to see prices going up moderately over the next two years, Khaleej Times reported.

Market analysts cited growing signs of maturity and greater market stability in the Gulf and the Middle East.

Colliers International’s Global Investor Sentiment survey suggested that GCC property markets showed signs of recovery and were expected to recover slowly but surely in 2010-2011. While Jones Lang LaSalle said that investor sentiment in real estate markets across the Middle East region has stabilized over the past six months.

According to the Jones Lang LaSalle report, Institutional investors ranked Dubai in the first place as the city was top ranked in 10 of the 13 criteria of city competitiveness in the MENA region. Abu Dhabi topped the other 3 out of 13. Collectively therefore the UAE scored highest in all categories of City competitiveness.

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