Investors from the Gulf Cooperation Council (GCC) countries invested a total of $13 bn (EUR 9.7 bn) in global real estate in 2006, a rise of 14% on the previous year. According to the latest Jones Lang LaSalle’s Global Real Estate Capital Report, the US was the favourite investment target, accounting for over half of the $ 13 bn total. The UK was second favourite with $ 4 bn, followed by Germany and South Africa with $1 bn each. France and Sweden also saw heavy investment.
Investors from the Gulf Cooperation Council (GCC) countries invested a total of $13 bn (EUR 9.7 bn) in global real estate in 2006, a rise of 14% on the previous year. According to the latest Jones Lang LaSalle’s Global Real Estate Capital Report, the US was the favourite investment target, accounting for over half of the $ 13 bn total. The UK was second favourite with $ 4 bn, followed by Germany and South Africa with $1 bn each. France and Sweden also saw heavy investment.
Tony Horrell, head of JLL’s international capital group, said that Middle Eastern investors are increasingly targeting so-called trophy assets, and making significant purchases in emerging markets, such as the entire Cape Town waterfront development and Europe’s largest shopping centre in Istanbul.
GCC investors also sold $ 2 bn in assets in the US and the UK last year, a 50% jump on 2005.