Increased geopolitical unrest and low oil prices are having an effect on the UK, driving private Middle Eastern investors towards London-based property assets.
This week the Council on Tall Buildings and Urban Habitat (CTBUH) has announced that there are now officially 100 supertall (300-plus-meter) skyscrapers in the world following the completion of 432 Park Avenue in New York City.
According to CBRE Group, an average of $15.0 billion per year will flow out of the Middle East into direct real estate globally in the near-term.
Shopping centres across Europe, the Middle East and Africa (EMEA) are now the preferred destination for eating and drinking, says a new report by CBRE.
Even with the significant drop in oil prices in the second half of 2014 and the start of 2015, investors from the Middle East continue to have a strong appetite for real estate investment globally.
Vertical communities are moving ever higher. Developers competing to build to record heights.
Wyndham Worldwide Corporation has announced plans to enter the United Arab Emirates with its first property in Dubai. The hotel group signed an agreement with Sigma III Limited, a subsidiary of British developer The First Group.
Although there are no clear government regulations yet on mortgage lending in Saudi Arabia, local banks have been offering residential financing to their best customers. So much so that total financing for residential properties in 2012 could reach $1.6 billion (SR 60 billion), according to sources in Jeddah and the National Commercial Bank (NCB).
According to hotel data compiled by STR Global, despite economic slowdowns in many regions of the world, hotel markets globally still posted mostly positive performance results for the month of August 2012. Here is a breakdown of hotel markets by region from STR Global.
Leave it to the Chinese to constantly find new revenue avenues. The latest is in Saudi Arabia where the kingdom plans to begin an estimated $100 billion worth of infrastructure projects by 2016, according to various media sources in China. The China Daily reports China will be the likely source for much of the construction material required by Saudi developers.
A $157 Million (GBP 100 million) Saudi-United Kingdom real estate fund has given its shareholders a pleasant pre-holiday surprise - a 7 percent annual dividend. The fund's managers had previously predicted possibly a 6.5 percent dividend might be in store. The first round of dividends were distributed to investors in the Sterling UK Real Estate Fund (SURF). (One British pound equals $1.57 U.S.)
According to according to the June 2012 STR Global Construction Pipeline Report, despite global economic concerns and the Eurozone debt crisis, many markets are still very active building new hotels. The Asia/Pacific hotel development pipeline comprises 1,625 hotels totaling 374,604 rooms, according to the June 2012 STR Global Construction Pipeline Report.
Oil-rich but shelter-poor Saudi Arabia is finally getting some much-needed new housing. Abu Dhabi-based Gulf Capital announced it will be entering Saudi Arabia's real estate market for the first time with a planned, multi-phased $267 million residential undertaking in Riyadh. Riyadh is the largest city and capital of Saudi Arabia. The SR 1 billion investment equates to over Dh 900 million.
Major markets across the Gulf Cooperation Council (GCC) reported mixed results in revenue per available room (RevPAR) during the first quarter of 2012.
Hardly noticed by the televised daily violence in the Middle East, Asia and Africa is the growing value of Islamic-owned real estate in that part of the world.
According to the February 2012 STR Global Construction Pipeline Report, the Middle East and Africa hotel development pipeline comprised of 498 new hotels totaling 134,893 rooms.