Europe’s commercial real estate growth eclipsed by Gulf
March 25, 2008 4:44 pm Information
The outlook in the Gulf region continues to look good in spite of inflationary pressure, according to global consultants, CB Richards Ellis, the supply pipeline for commercial real estate may go some way in satisfying demand.
It was announced at MIPIM, the world’s leading real estate event held annually in Cannes, that final figures for 2007 showed Europe’s commercial real estate investment market had reached $388 billion, 6% higher than the previous year’s record level. The firm’s MENA region managing director, Nick Maclean, says that the most dynamic growth markets are located in regions like the Gulf whilst painting a positive picture about long term prospects of certain Europe markets.