Thursday 28 March 2024
 
»
 
»
Story

US real estate ..... star attraction for GCC investors

GCC investors eye US property market

DUBAI, November 8, 2014

The GCC investors - from sovereign wealth funds to rich individuals - have pumped in $1 billion into the US real estate market in 2014, up 51 per cent over last year, said a report.

The boost in spending is mainly due to the pace of US economic growth, reported the Bloomberg citing a survey by Jones Lang LaSalle.

The properties in the US cities of Texas, California, Washington and Massachusetts topped the list of GCC investors this year, it added.

“It’s about grabbing a share of the American economy, which has been recovering consistently and effectively since 2011,” said Fadi Moussalli, JLL’s regional director for the Middle East and North Africa.

Investors see the US as being “somewhere in the middle of the recovery cycle,” stated Moussalli.

According to him, wealth funds and institutional investors are spending more on real estate to diversify their holdings.

"The US economic recovery is attracting the attention of GCC investors who are traditionally more accustomed to London and the rest of Europe," he added.




Tags: US | property | real estate | GCC | investor |

More Construction & Real Estate Stories

calendarCalendar of Events

Ads