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According to 200 of the region’s premier investor respondents to JLL MENA’s Second Investor Sentiment Survey, in association with Cityscape Intelligence.
Abu Dhabi will be the stand out market for real estate investors, according to findings from the second annual Investor Sentiment Survey, an in depth study of real estate professionals market views conducted by JLL MENA in association with Cityscape. The report also reveals that, increasingly, investors are returning to invest in fundamentals with more weight being attached to regulatory issues and market risks than six months ago. Further, according to investors surveyed, markets will begin to recover in 12-18 months a view consistent with JLL MENA’s MENA House View that 2010, will be the ‘Vintage’ or optimal year to have invested in. JLL MENA’s Investor Sentiment Survey, incorporates the views of over 200 developers, sovereign wealth funds and high net worth investors, and provides an ideal benchmark for the state of regional real estate markets.
Ian Ohan, Head of MENA Investment Transactions at JLL MENA, commented:
“Sentiment, be it positive or negative, drives markets. Since we last undertook our Investor Sentiment Survey in September 2008 in the aftermath of the Lehman Brothers collapse, sentiment has, without doubt, fuelled a dramatic change in the health of the MENA real estate sector. This is, therefore, a vital piece of research with contributions from the many of the region’s leading investors.
We, as one of the world’s leading real estate advisory organisations see many positives in the report. That investors are returning to investment fundamentals such as focussing on yield is a welcome finding as is the suggestion that there is, at last, an end in sight to the current turmoil. With Abu Dhabi and Saudi Arabia suggested as the hot spots for investors in the coming years, the MENA region looks set to grow in significance even further. As the signposts of recovery begin to emerge globally and regionally, experienced investors that understand the significant lead time to properly review and complete transactions are keen to not miss out on these value investment opportunities and are already pursuing deals.”
Andrew Charlesworth, Head of Corporate Finance Advisory JLL MENA, commented
“the rebuilding of investor confidence is critical to institutional and fund based real estate investment. We are beginning to see the return of investor interest in discretionary funds that provide sound investment strategies, professional and credible management and proprietary deal flow.”
Key findings of the report include:
Middle East was the last region to experience the global downturn
Middle Eastern real estate markets continue to outperform globally
Abu Dhabi, Saudi Arabia and Qatar seen as best markets within MENA
Downturn likely to continue in 2009, stage will be set for recovery set in 2010
Falling prices create greatest opportunity
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