Western buyers snub Gulf property
Sat, 30 Aug 2008 01:22 PM
Western investors have cooled on Gulf property markets, leaving the scene for local oil billionaires at least until global credit conditions ease - or markets in the region become more open and predictable. In cash-rich Dubai, Abu Dhabi and Kuwait it is domestic investors who are again calling the shots in real estate, now that debt-starved British and US property buyers have refocused on other areas they see as cheaper and more competitive.
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