UAE hailed as attractive investment

The United Arab Emirates (UAE) has been described as a safe investment location for western investors in property who are looking to escape the credit crunch.

Overseas property firm Select Property has said that the UAE is benefiting from having a market based on different foundations as opposed to those found in places such as Britain and the US.

Chief executive of Select Property Mark Stott said that "liquidity rather than borrowed money" was the key to the way the Emirates was developing.

He added: "What's more, the UAE has distanced itself from sub-prime lending, meaning they haven't had any significant exposure to the effects of the crunch."

Such factors may lead to more investors from the west looking to the UAE.

In related news, officials in Dubai and banks involved in the Emirate have hit back at predictions of a significant property downturn.

Standard Chartered Bank predicted that while there will be some slowdown that will prevent people making a big profit quickly, Dubai still represents a good long-term investment.
 

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