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Uncertainty in Europe following Britain’s decision to leave the EU could attract a new wave of Chinese investment in Dubai based on the emirate’s offer of quality new homes with potential for price growth, according to a China-based real estate expert.
Bernie Morris, President of the UK, Europe and the Middle East for Juwai.com, said developers and marketers should use the UAE’s world-class universities to attract Chinese parents, who are prepared to buy homes for their children to study overseas.
“Chinese property investors may react to the Brexit uncertainty with a flight to quality,” said Morris. “This will only enhance the UAE’s prominence within the Middle East as the premier destination, one with a similar investment profile to parts of Europe. With its high-quality new residential construction, the UAE has the perfect product for those Chinese investors who prefer to invest in off-plan or new-build prop erty.” Morris also points out that Dubai’s planned theme parks, infrastructure projects and new housing will allow Chinese investors to “easily see that there will be economic activity to support future price gains”.
He adds, “For many Chinese buyers, Dubai serves as a combined vacation and investment destination. They may buy a unit that can be rented out and managed for them, and expect to visit once or twice per year.”
Morris will be one of the expert panelists appearing at the Cityscape Conference, taking place at the Conrad Hotel on September 5, ahead of the Cityscape Global exhibition.
Source: Property Weekly