FINANCIAL NEWS

UAE property back as preferred for investors: Survey

23 Jun 2012

(MENAFN) A recent survey issued by Friends Provident International (FPI) found that UAE’s real estate is becoming again a preferred asset class among investors, Arabian Business reported.

The survey showed that the preference for investing in property is currently at its highest ever level, with a score of 17 from -2 in the initial wave of research in the second quarter of 2010.

Research leader Oxford Business Group (OBG) said on earlier this month that Dubai’s property slump was over, with the residential sector having posted solid growth over the past few months.

Property prices in Dubai saw prices jump after the city opened its real estate sector to foreign investors in 2002, granting them freehold ownership rights at many developments.

On the wake of the global economic and financial crisis in 2008, however, badly hurt Gulf emirate’s property market, dragging hose prices to about 60 percent drop.

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