Some wealthy investors in Dubai change their view of investment
04/12/2012
Prior to crisis, most of the investors in Dubai were choosing to invest in the local property market instead of gold; for there was immediately a so-called ‘Return on Investment’ (ROI). However, when such negative financial phenomenon started, a number of them have been affected and have lost thousands and millions of dollars. For this reason, they became more careful before investing in Dubai’s property market in particular.
After three years of being in the wake of such crisis, some of the richest expatriates in the UAE have changed their view of investment. They now prefer to invest in the gold market instead. According to them, gold is currently considered as the best form of long-term investment. In addition, the Friends Provident, a pension provider, said that most of the wealthy expats in the UAE are quite confident because of the fact that the investment market has already improved for the past six months, which is expected to continue until next year 2013.
Based on the poll conducted by 508 global expats in the UAE with a monthly income of AED4, 000, the gold remained as their chosen long-term investment. As a matter of fact, they are so confident because of the gold’s index score of 30. However, some researchers said that there were at least 49 per cent of respondents expecting for the real estate market in Dubai to improve more five years from now; and 11 per cent of them expected a very strong growth to happen over the same period; while 10 per cent expected that there will be some weakness to experience in the said market in the next five years.
As a General Manager of Friends Provident for the Middle East & Northern Africa (MENA) region, Matthew Waterfield said that such increased preference for investing in the Emirate’s property market is indeed just a proof that it is continuously recovering from the impacts of economic slowdown. He also added that the confidence in the local property market is really rebounding after all.
After three years of being in the wake of such crisis, some of the richest expatriates in the UAE have changed their view of investment. They now prefer to invest in the gold market instead. According to them, gold is currently considered as the best form of long-term investment. In addition, the Friends Provident, a pension provider, said that most of the wealthy expats in the UAE are quite confident because of the fact that the investment market has already improved for the past six months, which is expected to continue until next year 2013.
Based on the poll conducted by 508 global expats in the UAE with a monthly income of AED4, 000, the gold remained as their chosen long-term investment. As a matter of fact, they are so confident because of the gold’s index score of 30. However, some researchers said that there were at least 49 per cent of respondents expecting for the real estate market in Dubai to improve more five years from now; and 11 per cent of them expected a very strong growth to happen over the same period; while 10 per cent expected that there will be some weakness to experience in the said market in the next five years.
As a General Manager of Friends Provident for the Middle East & Northern Africa (MENA) region, Matthew Waterfield said that such increased preference for investing in the Emirate’s property market is indeed just a proof that it is continuously recovering from the impacts of economic slowdown. He also added that the confidence in the local property market is really rebounding after all.
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