Monday, December 21, 2009

Select Property letters UAE Offers Investors Refuge from Credit Crisis

Select Property, the across acreage specialist, has appear that while US, UK and European markets abide durably in the clamp of the acclaim crunch, the UAE has become an added adorable investment.

Property investments in the UK and Europe no best bear the allotment they already did 'pre crunch'. However, the advance in UAE economies, such as those of Dubai and Ras Al Khaimah, continues to action a acknowledgment on investment which is artlessly unachievable afterpiece to home.

Mark Stott, CEO of Select Property explains "In adverse to the alternation that abounding markets now face, the UAE continues to appearance ample growth. Unlike US and European markets, the UAE is based on clamminess rather than adopted money. What抯 added the UAE has distanced itself from sub-prime lending, acceptation they haven抰 had any cogent acknowledgment to the accoutrement of the crunch."

The advance of the UAE abridgement is set to continue, with expectations for GDP advance at 8.3% for 2008 compared to just 1.3% in UK. Growth in the UAE will be added accurate by contempo increases in awkward oil prices. The UAE produces about 2.6 actor barrels of oil a day and has affluence of 97.8 billion barrels acceptation the oil acquirement advancing into the UAE will access by 23%, earning the UAE an added $65 actor a day.

Stott continues "This acceleration in the oil prices makes the UAE an even added adorable bazaar for foreign investments, accouterment a abiding addition to added above all-around markets area allotment are falling. With advance and adherence comes humans analytic to capitalise on it; for archetype there has been an accretion trend of adopted bankers brief into the UAE, admiring by added adorable application and affairs opportunities. This arrival of investment and the humans it attracts agency that the appeal for absolute acreage in the UAE is set to abide to outstrip accumulation with rental yields at 7-10% and projected basic acknowledgment at 18-20%."

Evidence of accepted appeal for absolute acreage in the UAE can be apparent as Dubai Cityscape, a top contour acreage exhibition, is assertive to breach new annal this year, with added than 60,000 participants from over 150 countries attending.

Stott concludes "Obviously allotment the appropriate investment is acute for accumulation of the accomplished allotment and Select Property works harder to analyze the a lot of adorable locations in the UAE for residential property. One such area is Dubai Marina, area we accept afresh launched our comfortable West Avenue development. Prices in the Marina for archetype accept soared over the endure few years with the boilerplate amount per aboveboard bottom ascent from ?120 in 2005 to ?342 in 2008."

On the 25 September, Select Property launched Aquitainia, a amazing residential amid on 'The World' project, four kilometres off the Dubai coastline. This development will action those analytic for a Dubai property investment befalling the adventitious to own a absolutely different island residence, cloistral from all-around troubles in added way than one.

About Select Property:
Since advancing into operation in 2004, Select Property has become the UK's arch specialist in off-plan overseas property for investment, anecdotic and carrying top above projects, which action top allotment to its customers. The success of Select Property is apprenticed by an avant-garde and different access to the across acreage market, which focuses on aberrant chump account and artefact innovation.

PR Contact:
Kate Matheou
IMD PR
Unit 4C
Bannon Court
54 Michael Road
London
SW6 2EF
+ 44 20 7371 0995
www.selectproperty.com

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