UAE prospects 'improving'

Property prospects are improving for the UAE, it has been stated.

Strategic consulting firm AT Kearney's 2010 Real Estate Global Opportunity Index has suggested that the outlook for the country next year is better than when it last produced the assessment in 2008.

Managing director Dr Dirk Buchta said: "The countries of the Middle East and north Africa continue to improve in the index, even as they are hit by the economic crisis. The United Arab Emirates jumps significantly, from 31st to 18th place."

This ranking means the nation is regarded as a better place to invest in real estate now than it was last year.

While Dubai has made obvious errors, the Abu Dhabi outlook has been described positively by the company, noting that tourism is rising, construction costs are falling and banks are loosening lending criteria for purchases.

The UAE could be a very good location for investors seeking bargains in 2010, according to chief executive officer at Homesgofast.com Nicholas Marr.

He stated that Dubai may be a major beneficiary of smart buyers looking to make acquisitions and enjoy capital gains as values rise in the future.

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