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Come on, recover!
Property markets in Saudi Arabia, Qatar and Abu Dhabi are likely to recover quicker than others due to their enormous wealth.
October 1, 2009 2:23 by Dana El Baltaji
Real estate markets in Saudi Arabia, Qatar and Abu Dhabi (no, not Dubai) are expected to recover quicker than other cities and nations in the region, claims a study by property consultant Jones Lang Lasalle in its semi-annual report entitled Real Estate Investor Sentiment Survey.
Investor confidence in property markets is driven by governments’ ability to keep their economy afloat; given the oil and gas wealth Saudi Arabia, Qatar and Abu Dhabi can boast, it is unsurprisingly the 225 investors Jones Lang Lasalle surveyed for the study singled their real estate markets out.
Saudi Arabia topped the list with over 20 percent of respondents claiming the market ghas already started to recovery, followed by Abu Dhabi (approximately 15 percent) and Qatar (approximately 13 percent).
Ian Ohan, head of MENA Investment Transaction, Jones Lang Lasalle, said: “Dubai is widely recognized as the regional leader in terms of its infrastructure and national building achievements; however concerns remain with respect to its short term liquidity and supply – demand dynamics.”
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