Political unrest and instability in nations such as Tunisia and Libya is expected to act as a boost to the property market in the UAE. The chief investment officer and acting general manager of private banking at Emirates NBD has commented on how situations in MENA countries will positively impact property investment in Dubai.
Gary Dugan explained: “The premium segment of Dubai’s property sector is likely to get a boost from capital inflows from some of the countries that are facing political turmoil in the region.”
The experts forecast that those with assets in the MENA region are increasingly moving capital towards the emirate, which is recognised as the most secure market in the region.
“Local equities still prove attractive, but investors should wait before buying emerging market equities, which face near-term challenges and equity prices in general are no longer as low as they were. Investors are advised to buy global developed market equities but with care,” Mr Dugan added.