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Investor confidence falls sharply after Dubai debt debacle

Investor confidence in the Gulf fell…


December 28, 2009 4:33 by

Investor confidence in the Gulf fell sharply after Dubai requested a debt delay for Dubai World during the end of November, but rose again after the emirate paid up Nakheel’s sukuk on time, according to Shuaa Capital’s latest GCC Investor Sentiment Report.

“Part one of the December 2009 Shuaa Capital GCC Investor Sentiment Report, which was conducted before the repayment of the Nakheel sukuk was announced, revealed a significant drop of 32.7 points in the GCC Investor Confidence Index, slipping below the 100 point mark, the threshold indicating negative investor confidence, and hitting 98.1 points,” said Oliver Schutzmann, chief communications officer of Shuaa Capital and author of the report.

“However, post the Nakheel sukuk payment the index moved back into positive territory, reaching 116.9 points,” he said.

The UAE saw the biggest loss in investor confidence, declining from 20.7 percent in November to -63.3 percent in part one of December, and moving onto -19.4 percent in part two of December.


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