Investment falls in Dubai real estate

Investment in Dubai's real estate sector during the final quarter of 2008 fell compared to statistics from the previous quarter, new data has revealed.

The figure exceeded DH 58 billion (GBP 11 billion) over the final three months of the last year, research from online property tracker firm reidin.com showed.

A statement by the company said that the drop in investment "reflect[s] the current economic downturn, which has affected the property and real estate market in the region".

However, the website noted that "this has also created opportunities for regional and global investors to benefit from", news that may be welcomed by buyers who have been considering purchasing property in the emirate.

A study conducted by HSBC Holding earlier this month suggested that Dubai's property sector will see an improvement in activity when funding becomes easier to access.

According to Business 24-7, the survey forecast that buyer confidence will return once this takes place.

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