- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Dubai: The UAE-based investors have been busy picking off real estate assets overseas through the first-half of the year and enough to place them in 12th spot in global rankings.
Among Gulf states, Qatar had the highest billing, with an 8th spot, while Saudi Arabia was placed 21st, according to data from CBRE Group, Inc.
Qatar’s outbound capital on property totalled $9.834 billion (Dh36.09 billion), while the UAE’s tally was $6.64 billion in global assets during 2014 and the first=half of 2015 combined.
In the first six months of the year, Middle East investors splurged $11.5 billion into direct real estate globally, though this is lower than the $13.8 billion they put out last year.
London alone netted $2.8 billion of the outflow this year, representing 24 per cent of Middle Eastern outbound capital.
High-profile deals included the $2.47 billion Qatar Investment Authority’s acquisition of Maybourne Hotels and the $110 million purchase of London Midtown office by a private investor.
Hong Kong came in second with $2.4 billion, followed by New York with $1.1 billion.
“The size of the region’s foreign investment makes the Middle East the third-largest source of cross regional capital globally,” said Nick Maclean, Managing Director, CBRE M.E.
Hotels were the favoured picks, with combined investments on these properties totalling $6.8 billion in the first-half against the $1.8 billion all through last year.
Source: Manoj Nair, Associate Editor, gulfnews.com